This title was first published in 2002: From Individualism to the Individual treats finance as a social and cultural process, exploring the unseen side of academic discourse and the many obstacles the deeply entrenched elite puts in the way of alternative thinking. Opening with a detailed discussion of the role of ideology in the perpetuation of the limited methodological bias of the profession toward markets, the book then examines the more specific effects of such ideological limitations on theoretical and empirical research in finance. The authors develop alternative ways to examine finance both as a profession and as a field of inquiry. This book will be of particular value to researchers and practitioners working in finance, as well as those in other social science disciplines whose research relates to finance, culture and society.

chapter 1|6 pages


section I|114 pages

Ideology and the Profession

chapter 2|24 pages

The Ideology of Finance–Part I

“Ideology and the Theory o f Financial Econom ics”

chapter 3|21 pages

The Ideology of Finance–Part II

“From Unrealistic Assumptions to Realistic Theories?: Positive Financial Economics as a Catch-22”

chapter 4|26 pages


“Propaganda, Accounting and Finance: An Exploration”

chapter 5|18 pages


“Reciting the Kama Sutra in the Lotus Position Under a Sacred Fig Tree: The Making of Financial Economics”

chapter 6|23 pages

Preservation-Part I

“Market Efficiency or Behavioral Finance: The Nature of the Debate”

section II|152 pages

Ideology and Inquiry

chapter 7|27 pages

Preservation-Part II

“The Role of Anomalies in Finance: What are they and what are they good for?”

chapter 8|23 pages


“Signaling and Semiotics: A Search for Meaning”

chapter 9|29 pages

Discourse—Part I

“Scientific Conversation in Financial Economics”

chapter 10|44 pages

Discourse—Part II

chapter 11|6 pages

Discourse—Part III

“Market Efficiency or Behavioral Finance? Review”
Edited ByErnest Welker

chapter 12|21 pages


“Machomatics in Egonomics”

section III|140 pages

Finance and Society

chapter 13|31 pages

Financial Markets—Part I

“Hyperreal Finance” 1

chapter 14|13 pages

Financial Markets—Part II

“A Sociological Explanation of Financial Market Growth”

chapter 15|17 pages

Finance and Fashion

“Fashion and Finance”

chapter 16|29 pages

Finance and Consumption

“Hedonic Investment”

chapter 17|14 pages

Dividends and Society-Part I

“Dividends and Society”

chapter 18|19 pages

Dividends and Society-Part II

“The Rationality of Dividends”

chapter 19|15 pages

Dividends and Society-Part III

“What is the Puzzle in ‘The Dividend Puzzle’?”

section IV|87 pages

Finance and the Individual

chapter 20|20 pages

Behavioral Finance–Part I

“Resistance is Futile: The Assimilation of Behavioral Finance”

chapter 21|21 pages

Behavioral Finance–Part II

“Beyond Behavioral Finance”

chapter 22|21 pages

Risk Behavior and Finance

“Taking Practical Views of Risk-Taking”

chapter 23|21 pages

Finance and Imagery

“Individuals, images and Investments”

chapter 24|2 pages