Globalization, Work Hours, And The Care Deficit Among Stockbrokers

Abstract

The authors study U.S. stockbrokers, workers directly affected by the technological and economic forces of globalization. Drawing on interviews with 61 brokers and managers in four firms, they find that competition from electronic communication networks and international markets has increased the pace of work for stockbrokers, spurred online and after-hours trading, and may prompt the major stock exchanges to establish later trading sessions known as extended-hours trading. These events are lengthening already long working days for brokers and contributing to a deficit of the time and energy they have to care for their families. These developments also reinforce gender inequality at home and in the workplace. The authors also find an alternative response to this globalization: The discount firm model, which creates the conditions for more gender balance in jobs and careers and thus the possibility for greater gender balance in the provision of care.