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Dopo l'11 settembre: innovazione e ripresa nelle trading room di Wall Street

Beunza, Daniel and Stark, David (2003) Dopo l'11 settembre: innovazione e ripresa nelle trading room di Wall Street. Stato e Mercato: Quadrimestrale di Analisi Dei Meccanismi e Delle Istituzioni Sociali, Politiche ed economiche, 68 (2). pp. 185-216. ISSN 0392-9701

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What is the organizational basis of responsiveness under conditions of crisis? In this essay we examine a trading room that was damaged in the September 11th attack on the World Trade Center (WTC). What did the crisis reveal about the social practices and the technological tools of trading? Drawing on ethnographic field research prior to September 11th, we show how the heterarchical (as opposed to hierarchical) organization of the trading room contributed to innovation on an ongoing basis. Drawing on our subsequent observations in the relocated trading room and focus group discussions with executives in other WTC financial firms, we show that similarly heterarchical features contributed to innovation in response to crisis. Under conditions of radical uncertainty, one cannot know in advance what resources one will need, or even know in advance what might be a resource. Laterally distributed intelligence and a tolerance of multiple registers of valuation and interaction provide generative structures of resourcefulness where the replicative redundancy of contingency planning confronts its limits.

Item Type: Article
Official URL:
Additional Information: © 2003 Persée
Divisions: Management
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
JEL classification: L - Industrial Organization > L2 - Firm Objectives, Organization, and Behavior > L23 - Organization of Production
N - Economic History > N2 - Financial Markets and Institutions > N22 - U.S.; Canada: 1913-
Date Deposited: 06 Sep 2011 10:12
Last Modified: 20 Feb 2021 03:42

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