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Wall Street Essay

  • Submitted by: fattaco
  • on November 24, 2012
  • Category: History
  • Length: 1,645 words

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Below is an essay on "Wall Street" from Anti Essays, your source for research papers, essays, and term paper examples.

Wall Street, an institution built upon Adam Smith’s invisible hand economic policies, is one of the cornerstones of the American economy. Theoretically, anyone can invest in the market as a shareholder and thus share in the profits and failures of the world’s major corporate powers. This has supposedly bred a shareholder culture throughout the private sector, that focuses on everyone involved having a vested interest in the company’s success. Yet, the decisions that large companies make concerning downsizing and the distribution of assets are often done with little regard for long term problems and instead focus on keeping the company’s stock prices high in only the immediate future. Basically, every action taken by the Wall Street elite from downsizing to the liquidation of assets is done with the sole purpose of presenting investors with a short term return on their money.
One of the liquidity elements of Wall Street culture is the constant hiring and firing of employees. Karen Ho notes, “drastic and sometimes simultaneous spikes of hiring and firing” (Ho 225) was a major problem that affected Wall Street employees. Traditionally, employees made sense of their own job insecurity by tying it into the unpredictability of the market forces. This caused them to blend their own personal identity as an employee together with the overall role of the market, to provide instant returns to the investors. One employee Ho examines says, “If you can’t make money today, then you are out of there.” (Ho 234) Basically, the constant threat of being fired for not routinely delivering liquid assets to the investors is one of the primary reasons that the employees on Wall Street focused exclusively on the here and now. While, this focus certainly had long term consequences, the actual employees themselves did not have the luxury of looking beyond what affect their actions would have on tomorrow’s returns.
She also is careful to articulate how it is a fallacy for employees to...

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"Wall Street". Anti Essays. 15 Dec. 2018

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Wall Street. Anti Essays. Retrieved December 15, 2018, from the World Wide Web: http://snehaedu.com/free-essays/Wall-Street-357380.html