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Trust management through discourse: Power and persuasion in financial services

Bourne, Clea 2009. Trust management through discourse: Power and persuasion in financial services. Presented at: CIPR Academic Conference, University of Stirling, Scotland, September 2009.

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The globe’s corporate power elites view trust as indispensable to economic growth (Tyler and Stanley, 2007; DeVita, 2007; Korcynski, 2000). They also view the loss of trust as a cost or ‘tax’ to business (Murphy, 2003; Rendtorff, 2008; Khodyakov, 2007). Consequently, corporate elites use their capitalist power to socialise trust (Kincaid, 2006) in order to increase profits. Corporate elites acquire power through specialised knowledge that ordinary consumers find difficult or impossible to fathom. Elites then leverage their knowledge/power by taking on more and more risk on behalf of consumers (Rendtorff, 2008), and packaging that risk in products and services. In response, consumers employ trust as a way to reduce uncertainty and complexity when purchasing those products and services. Hence consumers accept the power of corporate elites and other authorities in global capital systems (Rendtorff, 2008).

Item Type: Conference or Workshop Item (Paper)
Status: Unpublished
Schools: Journalism, Media and Culture
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
Date of First Compliant Deposit: 30 March 2016
Last Modified: 19 Mar 2016 22:49

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