Global Microstructures: The Virtual Societies of Financial Markets

  • Knorr Cetina K
  • Bruegger U
  • 363

    Readers

    Mendeley users who have this article in their library.
  • 443

    Citations

    Citations of this article.

Abstract

Using participant-observation data, interviews, and trading tran- scripts drawn from interbank currency trading in global investment banks, this article examines regular patterns of integration that char- acterize the global social system embedded in economic transactions. To interpret these patterns, which are global in scope but microsocial in character, this article uses the term “global microstructures.” Fea- tures of the interaction order, loosely defined, have become consti- tutive of and implanted in processes that have global breadth. This study draws on Schutz in the development of the concept of temporal coordination as the basis for the level of intersubjectivity discerned in global markets. This article contributes to economic sociology through the analysis of cambist (i.e., trading) markets, which are distinguished from producer markets, and by positing a form of market coordination that supplements relational or network forms of coordination.

Get free article suggestions today

Mendeley saves you time finding and organizing research

Sign up here
Already have an account ?Sign in

Find this document

Get full text

Authors

  • Karin Knorr Cetina

  • Urs Bruegger

Cite this document

Choose a citation style from the tabs below

Save time finding and organizing research with Mendeley

Sign up for free