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Weber, Max

doi:10.1023/a:1007042728962

Cited by 72 publications

(12 citation statements)

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“…Webers beskrivelse av børsers sosiale betydning var eksempelvis langt bredere og mere finmasket enn som ganske enkelt en spydspiss for kapitalismens formalrasjonelle logikk (cf. Weber, 2000b).…”

Section: Tillit -Fra Personlige Relasjoner Til Ekspertsystemerunclassified

Tap og tillit – om relasjonene mellomnorske kraftkommuner og finansnæringen

Løding

2019

TfS

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SammendragGjennom de ti årene som har passert siden den mest alvorlige finansielle krisen på nesten et århundre, har det vokst fram en bred tverrfaglig litteratur som tar for seg finansmarkedenes økte omfang og betydning. Under betegnelsen «finansialisering» er et av denne litteraturens fremste funn at stadig flere lag av mer eller mindre kyndige aktører anser finansmarkedene som en fornuftig arena i forvaltningen av både gjeld og aktiva. Denne artikkelen begynner med å slå fast at blant disse nye klassene av vordende finansinvestorer hører også norske kommuner til. Selv om de katastrofale konstruksjonene formidlet av Terra Securities er mest kjent, dreier det seg hovedsakelig om kraftkommuners salg av andeler i lokale og regionale kraftselskaper hvor frigjorte midler deretter spres i verdipapirmarkedene. Ved å bruke kvalitative intervjuer av kommunale beslutningstakere utforsker artikkelen et påfallende likhetstrekk mellom de såkalte Terra-kommunene og andre norske kommuner som også investerer i finansmarkedene, nemlig de naere, vedvarende og tillitsbaserte relasjonene som finnes mellom politisk ledelse i kommunal sektor og utvalgte aktører i finansnaeringen. Artikkelen argumenterer for at disse tillitsrelasjonene er en viktig faktor for å forstå hvorfor kommuner i dag anser finansialiserte strategier som legitime og hensiktsmessige i forvaltningen av offentlige verdier. AbstractDuring the decade that has passed since the most detrimental financial crisis in 90 years, a broad field of academic inquiry has emerged investigating the expanding scope and power of financialized capitalism. One of the most important findings in this literature is how various types of actors are increasingly getting involved in financial market investments and practices. Norwegian municipalities belong among these new groups of actors. In fact, financial portfolio management is emerging as a common option in the toolkit of Norwegian public sector property management. In this article, I investigate the relations between municipalities and their financial brokers. I argue that the contact surface between local authorities and the financial markets is characterized by intimate and long-lasting relationships of trust, and that this is an important factor when trying to explain how public sector decision makers come to consider financial technologies rational and fitting for the needs of the public sector.

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Section: Tillit -Fra Personlige Relasjoner Til Ekspertsystemerunclassified

Tap og tillit – om relasjonene mellomnorske kraftkommuner og finansnæringen

Løding

2019

TfS

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“…The exchange is the monopoly of the rich, and nothing is more foolish than to disguise this fact by admitting propertyless, and therefore powerless, speculators and in that way to allow large capital holders to shift responsibility away from themselves and onto those others. (Weber, 2000(Weber, [1894, p. 334, italics in the original) Unequivocally opposed to small speculators being granted access to the stock exchange, Weber instead suggested that these 'superfluous parasites' on the national economy directed their work towards 'virtually any other useful activity' (Weber, 2000(Weber, [1894, p. 333). Dismayed and vexed by the negative impact of the participation of incapable persons in the exchanges, he wrote that 'the mishmash that now constitutes our "public" on the exchanges will never have its pronouncements respected; the precondition for that, a unified "concept of honor", is lacking' (Weber, 2000(Weber, [1894, p. 334).…”

Section: Public 2 Participation: the Emergence Of The Market Crowdmentioning

confidence: 99%

Contrarian investment philosophy in the American stock market: on investment advice and the crowd conundrum

Hansen¹

2015

Economy and Society

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This paper contributes to the understanding of the role of crowds in the financial market by examining the historical origins and theoretical underpinnings of contrarian investment philosophy. Developed in non-scientific, practice-oriented 'how to' handbooks in 1920s and '30s America, contrarian investment advice was aimed at so-called small investors rather than well-established market practitioners. Emerging out of late-19th-and early-20th-century debates about public participation in the stock market, the contrarians expanded on a widely held (amongst financial writers) skepticism about the investment and speculation skills (or lack thereof) of the masses and adopted ideas from the theoretical discipline of crowd psychology, whereby they positioned the mass (i.e. the crowd) in opposition to the successful investor. I argue that despite its idiosyncrasies, the contrarians' conception of the market based on crowd psychology, points to a fundamental fragility of market participants, which still lingers on in recent debates about the wisdom of financial market crowds.

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“…Equations (15) and (17) can also be derived from (18) and (19) by iteration. Note that is a positive number in these equations.…”

Section: Abelian Limitmentioning

confidence: 99%

“…Due to the differences between (25), (26) and (15), (17) it is not immediately clear how equations analogous to (18) and (19) can be found for lim T →∞Ũ (0 −T )| and lim T →∞Ũ (0 T )| . Although outside the context of scattering theory, adiabatic switching and the Gell-Mann-Low formula have been subject of active research recently; see, e.g., [12][13][14][15][16][17][18] and references therein.…”

Section: Adiabatic Switchingmentioning

confidence: 99%

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On some aspects of the definition of scattering states in quantum field theory

Tóth

2012

Open Physics

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Abstract:The problem of extending quantum-mechanical formal scattering theory to a more general class of models that also includes quantum field theories is discussed, with the aim of clarifying certain aspects of the definition of scattering states. As the strong limit is not suitable for the definition of scattering states in quantum field theory, some other limiting procedure is needed. Two possibilities are considered, the abelian limit and adiabatic switching. Formulas for the scattering states based on both methods are discussed, and it is found that generally there are significant differences between the two approaches. As an illustration of the applications and the features of these formulas, S-matrix elements and energy corrections in two quantum field theoretical models are calculated using (generalized) old-fashioned perturbation theory. The two methods are found to give equivalent results.

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Cited by 72 publications

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Tap og tillit – om relasjonene mellomnorske kraftkommuner og finansnæringen

Tap og tillit – om relasjonene mellomnorske kraftkommuner og finansnæringen

Contrarian investment philosophy in the American stock market: on investment advice and the crowd conundrum

On some aspects of the definition of scattering states in quantum field theory

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