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Global Microstructures: The Virtual Societies of Financial Markets

Knorr Cetina, Karin, Bruegger, Urs·2002·American Journal of Sociology
DOI 10.1086/341045
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Abstract

Using participant‐observation data, interviews, and trading transcripts drawn from interbank currency trading in global investment banks, this article examines regular patterns of integration that characterize 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.” Features of the interaction order, loosely defined, have become constitutive 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.

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Metadata

Authors
Knorr Cetina, K., & Bruegger, U.
Venue
American Journal of Sociology
Publisher
University of Chicago Press
Published
2002-01
Volume
107
Issue
4
Pages
905-950
ISSN
  • 0002-9602 (ISSN-L)
  • 1537-5390
DOI
10.1086/341045
OpenAlex
W2124577854
Cited by
1,046
References
3
FWCI
60.66
Type
journal article
Language
en
Open access
closed

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