Explaining the City Belief in Markets

David Lazar
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David Lazar: Goldsmiths’ College

Chapter 4 in Markets and Ideology in the City of London, 1990, pp 81-93 from Palgrave Macmillan

Abstract: Abstract This chapter is an attempt at a tentative explanation of the strong commitment of City people to the market. The argument developed is that the influence of social class, although relevant and important, is not alone sufficient to explain the City belief in markets because City people from modest backgrounds do not seem significantly less pro-market than those from the more privileged backgrounds. Attention must also be paid to the following: beliefs about the market held by recruits prior to entry into the city; the effect of working in financial markets; and the ideologically closed character of City culture. Each of these factors plays a crucial role in constituting and reinforcing socio-political opinions, including views about the proper relationship between state and market.

Keywords: Social Class; Financial Market; City Life; Social Class Background; Privileged Background (search for similar items in EconPapers)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-10753-7_4

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DOI: 10.1007/978-1-349-10753-7_4

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