Abstract
This paper is a study of the social origins of the House of Morgan between 1895 and 1940. It argues that the history of the Morgan partnership can contribute to our understanding of how the mechanisms of confidence and risk management work in tandem. The Morgan partners managed the risk of incorporating non-family members by creating continuity through common associations with other institutions in the society at large. These relationships integrated the Morgan firm in an institutional network that created confidence through mechanisms similar to kinship but whose longevity was not limited by the life span of individual partners or specific kinship lines.
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Pak, S.J. (2017). The House of Morgan: Private Family Bank in Transition. In: Schönhärl, K. (eds) Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century. Palgrave Studies in the History of Finance. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-42076-9_2
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DOI: https://doi.org/10.1007/978-3-319-42076-9_2
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