From Publishers Weekly
The timely question, What caused the current global financial crisis? provokes answers usually aimed at the level of institutions and the more abstract market logic. Ho's refreshing ethnography of the daily lives of Wall Street investment bankers takes another tack and outlines a web of practices, beliefs and structures that may be vital to understanding what keeps the market system in place despite built-in instabilities. Ho, a former business analyst and now an associate professor of anthropology at the University of Minnesota, unpacks constant downsizing, high risk/high reward job liquidity, shortsighted compensation structures, prestige and the ruse of shareholder value. Her keen eye for the significance of space illuminates workplace narratives, e.g., segregating staff by floor, function and prestige; constant and lavish recruiting events at Princeton and Harvard; and anticlimactically tawdry office space for most workers. The author exposes how elite undergraduates are immersed in a culture promoting finance as the only legitimate job, how educational pedigrees reinforce the financial world's self-image—while the actual jobs remain rigidly hierarchical (stratifying women, people of color and non–Ivy League graduates), highly unstable and isolating, encouraging a culture in which making money is the only value. (Aug.)
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Review
"We're pretty familiar with the economic rationale for the regime of cost-cutting and downsizing throughout corporate America in recent decades. But Karen Ho's research greatly enriches our understanding of how Wall Street's own peculiar culture of transient relationships and relentless competition has contributed to the shareholder revolution. And, along the way, her interviews and fieldwork offer a very revealing picture of the mind of Wall Street. A fascinating and important book." Doug Henwood, editor of Left Business Observer " Karen Ho has picked an excellent time to publish her fascinating new study...patient ethnographic analysis has produced a fascinating portrait that will be refreshingly novel to most bankers...Ho peppers her account with revealing eyewitness stories...Most fascinating of all is her account of how Wall Street becomes deluded by its own rhetoric about "market efficiency"...I, for one, would vote that Ho's account becomes mandatory reading on any MBA (or investment banking course); if nothing else, it might be more entertaining than the other texts that bankers swallow so uncritically." Gillian Tett, Financial Times, 2nd October 2009

In this companion volume to John van Maanen's "Tales of the Field", three scholars reveal how the ethnographer turns direct experience and observation into written fieldnotes upon which an ethnography is based. Drawing on years of teaching and field research experience, the authors develop a series of guidelines, suggestions and practical advice about how to write useful fieldnotes in a variety of settings, both cultural and institutional. Using actual, unfinished "working" notes as examples, they illustrate options for composing, reviewing and working fieldnotes into finished texts. They discuss different organizational and descriptive strategies, including evocation of sensory detail, synthesis of complete scenes, the value of partial versus omniscient perspectives and of first-person versus third-person accounts. Of particular interest is the authors' discussion of notetaking as a mindset. They show how transforming direct observations into vivid descriptions results not simply from good memory but more crucially from learning to envision scenes as written. A good ethnographer, they argue, must learn to remember dialogue and movement like an actor, to see colours and shapes like a painter, and to sense moods and rhythms like a poet. The authors also emphasize the ethnographer's core interest in presenting the perceptions and meanings which the people studied attach to their own actions. They demonstrate the subtle ways that writers can make the voices of people heard in the texts they produce. Finally, they analyze the "processing" of fieldnotes - the practice of coding notes to identify themes and methods for selecting and weaving together fieldnote excerpts to write a polished ethnography. This book, however, is more than a "how-to" manual. The authors examine writing fieldnotes as an interactive and interpretive process in which the researcher's own commitments and relationships with those in the field inevitably shape the character and content of those fieldnotes. They explore the conscious and unconscious writing choices that produce fieldnote accounts. And they show how the character and content of these fieldnotes inevitably influence the arguments and analyses the ethnographer can make in the final ethnographic tale. This book shows that note-taking is a craft that can be taught. Along with "Tales of the Field" and George Marcus and Michael Fisher's "Anthropology as Cultural Criticism", "Writing Ethnographic Fieldnotes" should provide an essential tool for students and social scientists alike.