Financial centres as fields: Reflections on habitus and risk in the nineteenth and twentieth centuries

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

This article develops a new understanding of the financial centre as a unit of analysis. It draws on Pierre Bourdieu’s generative structuralism to argue that financial centres constitute fields that possess a distinctive habitus through which risk is judged. Furthermore, Douglass North’s New Institutional Economics is used to argue that this distinctive habitus is the product of a combination of "hard" and "soft" forces: economic and business structures, the role of states, social networks, and cultural factors. It pushes beyond a simple geographical understanding of the financial centre while asserting that the financial centre is indeed a critical level of analysis. Moreover, the approach taken strongly suggests the need for historians of finance to incorporate broader macro-level political, economic, social and cultural developments into their analyses.
Original languageEnglish
Title of host publicationDecision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century
EditorsKorinna Schönhärl
Place of PublicationBasingstoke
PublisherPalgrave Macmillan
ISBN (Electronic)978-3-319-42076-9
Publication statusPublished - 17 Jan 2017

Publication series

NamePalgrave Studies in the History of Finance
PublisherPalgrave macmillan

Fingerprint

nineteenth century
twentieth century
structuralism
institutional economics
cultural development
cultural factors
macro level
social development
economics
historian
social network
finance

Cite this

Dilley, A. R. (2017). Financial centres as fields: Reflections on habitus and risk in the nineteenth and twentieth centuries. In K. Schönhärl (Ed.), Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century (Palgrave Studies in the History of Finance). Basingstoke: Palgrave Macmillan .

Financial centres as fields : Reflections on habitus and risk in the nineteenth and twentieth centuries. / Dilley, Andrew Richard.

Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century. ed. / Korinna Schönhärl. Basingstoke : Palgrave Macmillan , 2017. (Palgrave Studies in the History of Finance).

Research output: Chapter in Book/Report/Conference proceedingChapter

Dilley, AR 2017, Financial centres as fields: Reflections on habitus and risk in the nineteenth and twentieth centuries. in K Schönhärl (ed.), Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century. Palgrave Studies in the History of Finance, Palgrave Macmillan , Basingstoke.
Dilley AR. Financial centres as fields: Reflections on habitus and risk in the nineteenth and twentieth centuries. In Schönhärl K, editor, Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century. Basingstoke: Palgrave Macmillan . 2017. (Palgrave Studies in the History of Finance).
Dilley, Andrew Richard. / Financial centres as fields : Reflections on habitus and risk in the nineteenth and twentieth centuries. Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century. editor / Korinna Schönhärl. Basingstoke : Palgrave Macmillan , 2017. (Palgrave Studies in the History of Finance).
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