Sociology and the Financial Crisis

Durkheim and the Financial Crisis If you’re interested in reflecting on what sociology can tell us about the financial crisis, then follow the link to an episode of R4’s Thinking Allowed. Laurie Taylor talks with Steven Lukes about the relevance of Durkheim’s analysis. It’s good stuff. For Durkheim, periods of economic crisis lead to the breakdown of norms and values - and the way in which they are regulated. The resulting anomie - literally normlessness - leads to a reduction in social integration and an increase in egoistic suicide. Lukes recalls the testimony of one of his students in New York who lives in a block favoured by finance workers. Back in October the day that the news of Lehman brothers broke, there was an extremely sombre mood, streaked with small-scale aggressive behaviour. As Lukes notes, its a social condition with psychological effects. R4 Thinking Allowed - Durkheim and the Financial Crisis