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Everyday discourses of stock market investing: Searching for investor power and responsibility

Everyday discourses of stock market investing: Searching for investor power and responsibility The latest financial crisis has aroused public discussion about the moral aspects of financial speculation and the rights and responsibilities of different market actors, including private consumers of financial products. Shifting the focus away from the level of individual morals and choices, this paper sets out to trace the discursive “conditions of possibility” for reflective and responsible financial consumption. Through a critical discourse analysis of media and marketing texts, the paper identifies and examines four conventionalized discourses of stock market investing: market mechanics, market psychology, market participation, and market expertise. The paper shows how each of these widely normalized discourses articulates investing as an individual enterprise of wealth management, devoid of broader social or political relevance. It is argued that the prevalence of such representations is likely to discourage social awareness with regard to financial consumption and to impede the establishment of fair and sustainable market practices. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Consumption Markets and Culture Taylor & Francis

Everyday discourses of stock market investing: Searching for investor power and responsibility

Hirsto, Heidi
Consumption Markets and Culture , Volume 14 (1): 21 – Mar 1, 2011
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Publisher
Taylor & Francis
Copyright
Copyright Taylor & Francis Group, LLC
ISSN
1477-223X
eISSN
1025-3866
DOI
10.1080/10253866.2011.541176
Publisher site
See Article on Publisher Site

Abstract

The latest financial crisis has aroused public discussion about the moral aspects of financial speculation and the rights and responsibilities of different market actors, including private consumers of financial products. Shifting the focus away from the level of individual morals and choices, this paper sets out to trace the discursive “conditions of possibility” for reflective and responsible financial consumption. Through a critical discourse analysis of media and marketing texts, the paper identifies and examines four conventionalized discourses of stock market investing: market mechanics, market psychology, market participation, and market expertise. The paper shows how each of these widely normalized discourses articulates investing as an individual enterprise of wealth management, devoid of broader social or political relevance. It is argued that the prevalence of such representations is likely to discourage social awareness with regard to financial consumption and to impede the establishment of fair and sustainable market practices.

Journal

Consumption Markets and Culture – Taylor & Francis

Published: Mar 1, 2011

Keywords: stock market; financial consumption; personal investing; ethical investing; financialization; critical discourse analysis

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