Scenes from a Power Struggle: The Rise of Retail Investors in the US Stock Market [chapter]

Brooke Harrington
2012 Research in the Sociology of Organizations  
This chapter examines the mass movement of Americans into investing during the 1990s as both a consequence and a cause of contested power between corporations and individuals. This movement was part of a larger historical pattern of economically marginalized people consolidating their power through associational strategies in the realm of finance. Using US investment clubs as a case study, the chapter draws on Foucault's theories to illuminate the bilateral power structure of modern capitalism,
more » ... modern capitalism, in which market institutions and small groups at the grassroots level mutually influence one another. While the investment club movement was in part a response to economic domination by corporate and political elites, it also catalyzed genuine shifts in the power dynamics between individuals and corporations.
doi:10.1108/s0733-558x(2012)0000034011 fatcat:mvdolhmj3zcizop76ifxjtshwi