Wages, Bonuses and Appropriation of Profit in the Financial Industry
eBook - ePub

Wages, Bonuses and Appropriation of Profit in the Financial Industry

  1. 244 pages
  2. English
  3. ePUB (mobile friendly)
  4. Available on iOS & Android
eBook - ePub

Wages, Bonuses and Appropriation of Profit in the Financial Industry

Book details
Table of contents
Citations

About This Book

The 2008 financial crisis led the whole world to ask questions of the financial industry. Why are wages in the financial industry so high? Are bonuses responsible for the financial crisis? Where do bonuses come from? Politicians and others urged people to believe that the crisis was the price of Wall Street's greed and blamed the "bonus culture" prevalent in the financial industry. However, despite widespread condemnation and the threat of tighter regulation, bonuses in the industry have proven remarkably resilient.

Wages, Bonuses and Appropriation of Profit in the Financial Industry provides an in-depth inquiry into the bonus system. Drawing on examples from France, the City and Wall Street, it explains how and why workers in the financial industry can receive such large bonuses. The book examines issues around incentives, morality and wealth-sharing among employees, including the rise of "the working rich" – those who have benefited the most from the high wages and large bonuses on offer to some employees. These people have achieved wealth through their work thanks to new forms of exploitation in our ever-more dematerialised economy. This book shows how the most mobile employees holding the most mobile assets can exploit the most immobile stakeholders. In a world where inequalities are rising sharply, this book is therefore an important study of one of the key contemporary issues.

It will be of vital interest to those studying finance, banking or political economy.

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Yes, you can access Wages, Bonuses and Appropriation of Profit in the Financial Industry by Olivier Godechot in PDF and/or ePUB format, as well as other popular books in Business & Business General. We have over one million books available in our catalogue for you to explore.

Information

Publisher
Routledge
Year
2016
ISBN
9781317301110
Edition
1
Topic
Business
Subtopic
Business General
Index
Business

Table of contents

  1. Cover Page
  2. Wages, Bonuses and Appropriation of Profit in the Financial Industry
  3. Routledge International Studies in Money and Banking
  4. Title
  5. Copyright
  6. Contents
  7. Figures
  8. Tables
  9. Preface
  10. Intro
  11. Part I Bonus Practices
  12. Part II Property Rights and Power
  13. Part III Hold-up and Labour Market
  14. Conclusion: Value Creation for Wage Earners?
  15. Index