The Mis/recognition of Enron Executives' Competence as Cultural and Social Capital

Abstract

This case study examines Enron's top executives' activities through Bourdieu's notion of misrecognized competence or “capital.” Top executives' practices were misrecognized as valuable and legitimate competencies against the backdrop of the company's changing new-economy context. Most approaches to intellectual, social, and cultural capital assume their automatic value. In contrast, this essay shows that the perceived value of executives' practices was the result of Enron's context and executives' communicative efforts to position their own contributions as the most important. As outsiders scrutinized the company, however, executives' activities were exposed as self-serving and primary contributors to Enron's troubles.

Keywords:

• Bourdieu
• Cultural Capital
• Enron
• Intellectual Capital
• Social Capital

Thanks to Stan Deetz, Rob Ulmer, Sarah Tracy, Bryan Taylor, Peter Marston, Erin Lyon, Alicia Lyon, Bill Benoit, the anonymous reviewers, and God.

Additional information

Notes on contributors

Alexander Lyon

Alexander Lyon is an Assistant Professor at the College at Brockport.