Socio-cultural (re) presentations of Wall Street in Tom Wolfe’s The Bonfire of the Vanities (1987) and Michael Lewis’s Liar’s Poker (1989)

Abstract

Wall Street's historical journey, from the Buttonwood Agreement to the Great Depression and the latter half of the 20th century, unfolds as a dynamic tale of growth and challenges. The Agreement of 1792 beneath a buttonwood tree marked a transformative moment, laying the foundation for organized trading and shaping Wall Street into a global financial hub. The 19th century saw the rise of diverse financial institutions, solidifying Wall Street's role in the American financial system. Despite facing challenges like the Panic of 1873, Wall Street demonstrated resilience, becoming instrumental in financing the nation's industrial expansion. The Gilded Age propelled Wall Street to global prominence, with the emergence of the New York Stock Exchange contributing to the myth of the "Master of the Universe." The Roaring Twenties brought both prosperity and societal flaws, as the pursuit of material wealth and excess sowed the seeds for moral decay. Understanding this historical context is crucial for exploring evolving cultural representations. Focusing on literature from the 1980s, specifically Tom Wolfe's The Bonfire of the Vanities (1987) and Michael Lewis's Liar's Poker (1989), this study adopts a structuralist approach. Through evaluating symbols, archetypes, and cultural codes, the analysis contributes to a nuanced understanding of the intricate relationship between finance and broader societal and cultural contexts.