Remembering global crises: 'Doing and un-doing history' in narrative and discourse: the German stock market decline (2000–2003)

Kerstin Schmidt-Beck

International Journal of Management Concepts and Philosophy, 2009, vol. 3, issue 3, 225-238

Abstract: This paper explores in which ways the recourse to 'history' allows people to make sense of a major event like a stock market crisis. Using evidence of German financial journalism from the financial crisis of the years 2000 to 2003 and interviews with financial professionals remembering the crisis, the paper shows how some of the discussions and narratives involved constructions of 'doing history' relating to historical crises, while others involved 'undoing history' in favour of a stress on eternal market principles. These contrasting approaches to the use of 'history' are related to both coping strategies and the ideas of neo-classical economic rationality in financial markets.

Keywords: economic history; learning processes; interviews; financial professionals; market principles; narrative; discourse; stock markets; financial crisis; financial journalism; coping strategies; stock market crisis; Germany. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmcph:v:3:y:2009:i:3:p:225-238

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