American Ethnologist · 2003 · 270 citations · 29 references
Social SciencesInformation TechnologySociologyEconomic AnthropologyFinancial MarketsGlobalizationFinancial GlobalizationFutures MarketsTrading MechanismsInformation Technologies For MarketsMarket AnthropologySituated Agents
Financial markets and information technologies are central to contemporary social theory, with both open‑outcry pit and online systems representing markets in numbers that traders use to read and interpret financial activity. The study examines how technological rationalization interacts with traders’ situated actions in Chicago and London futures markets using open‑outcry pit and online technologies. The authors conduct fieldwork in Chicago and London, observing traders in open‑outcry pit and online futures markets to analyze the interplay between technological rationalization and traders’ actions. The study finds that open‑outcry pit and online technologies configure numbers differently, thereby shaping traders’ practices through the basic unit of financial knowledge.
Financial markets and information technologies are key issues for contemporary social theory and the anthropology of globalization. Drawing on fieldwork in Chicago and London, I examine the interplay between processes of technological rationalization and the situated actions of traders in two financial futures markets—one that operates on open‐outcry pit technology and the other process online. Both technologies represent the market in numbers. Traders use these symbols to read and interpret the market. Yet each technology configures numbers differently. The technologies influence traders' practices by shaping this basic unit of financial knowledge, [finance, globalization, knowledge, numbers, technology, United States, England]
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