Karen Ho facts for kids

Karen Ho is an American anthropologist. She is known for her studies on the culture of Wall Street.

About Karen Ho

Karen Ho grew up in a middle-class Taiwanese American family. Her home was located near Memphis. Her father was a doctor who had immigrated from Taiwan.

Her Education

Karen Ho went to Stanford University. There, she earned both her first degree (Bachelor of Arts) and her master's degree. Later, she received her PhD in anthropology from Princeton University.

Her Work and Research

From 1996 to 1997, Karen Ho took a break from her studies. She went to work on Wall Street to learn about its culture. Wall Street is a famous financial district in New York City. From 1998 to 1999, she talked to over 100 people who worked there.

What She Discovered

Her research showed that the way people think and act on Wall Street affects big decisions. These decisions then have a huge impact on the economy.

Wall Street Culture

Ho found that Wall Street often values being "smart" and "hard-working." This can make some bankers feel separate from the rest of society. They are often focused on making money quickly. This is because their pay often depends on closing deals, not on how well those deals work out in the long run.

She also noticed that Wall Street easily hires and fires employees. This happens even when the economy is doing well. This way of working can lead to a "strategy of no strategy." This means the main goal is just to make money for the company (and themselves) in the short term. Ho believes this short-term focus can lead to economic problems later on.

The Idea of Meritocracy

Karen Ho also looked at the idea of "meritocracy" on Wall Street. Meritocracy is a system where people are rewarded based on their abilities. Banks often say they hire "the smartest people." However, Ho found that "smartness" often included being socially confident. This was often seen in wealthy white men.

She observed that these men were often more "liked" by top business leaders. They might play golf or talk about exclusive clubs. Women and minorities often had to prove themselves in less profitable, technical jobs. They also had to be very careful about how they dressed and acted. This was to avoid being seen as less important by their co-workers.

Current Role

Today, Karen Ho is a professor at the University of Minnesota.

Selected Publications

• 2009: "Disciplining Investment Bankers, Disciplining the Economy: Wall Street’s Institutional Culture of Crisis and the Downsizing of American Corporations." American Anthropologist, Vol. 111, No. 2.
• 2009: Liquidated: An Ethnography of Wall Street. Duke University Press.
• 2005: Situating Global Capitalisms: A View from Wall Street Investment Banks. Cultural Anthropology 20(1): 68–96.