Compare Material Markets by Donald Mackenzie, Hardcover | Indigo Chapters

Financial markets, processes, and instruments are often difficult to fathom; and recent turbulence suggests they may be out of control in some respects. Donald Mackenzie is one of the most perceptive analysts of the workings of the financial world. In this book, MacKenzie argues that economicagents and markets need to be analyzed in their full materiality: their physicality, their corporeality, their technicality. Markets are populated not by disembodied, abstract agents, but by embodied human beings and technical systems. Concepts and systematic ways of thinking that simplify marketprocesses and make them mentally tractable are essential to how markets function. In putting forward this material sociology of markets, the book synthesizes and contributes to the new field of social studies of finance: the application to financial markets not just of economics but of wider social-science disciplines, in particular science and technology studies. The topicscovered include hedge funds (the book contains the first social-science study of a hedge fund based on direct observation); the development of financial derivatives exchanges (non-existent in 1970, but now trading products equivalent to $13, 000 for every human being on earth); arbitrage; howcorporate profit figures are constructed; and the crucial new markets in carbon emissions. The book will appeal to research students and academics across the social sciences, and the general reader will enjoy the book's explanations and analyses of some of the most important phenomena of today's turbulent markets. | Material Markets by Donald Mackenzie, Hardcover | Indigo Chapters