Social studies of finance

Short description: Interdisciplinary research area

Part of a series on

Economic, applied, and development
anthropology

Basic concepts

* Commodification
* Barter
* Debt
* Finance
* Embeddedness
* Reciprocity
* Redistribution
* Value
* Wealth
* Gift economy
* Limited good
* Inalienable possessions
* Singularization (commodity pathway)
* Spheres of exchange
* Social capital
* Cultural capital

Provisioning systems

* Hunting-gathering
* Pastoralism
* Nomadic pastoralism
* Shifting cultivation
* Moral economy
* Peasant economics

Case studies

Prestations

* Kula ring
* Moka exchange

* Potlatch

Gifting

* Gifting remittances

* Organ gifting
* Shell money

Provisioning

* Aché people (hunter-gatherers)
* Batek people

Colonialism and development

* The Anti-Politics Machine

* Europe and the
People Without History

Political economy

* Jim Crow economy

Related articles

* Original affluent society
* Formalist–substantivist debate
* The Great Transformation
* Peasant economics
* Culture of poverty
* Political economy
* State formation
* Nutritional anthropology
* Heritage commodification
* Anthropology of development

Major theorists

* Paul Bohannan
* Alexander Chayanov
* Stanley Diamond
* Raymond Firth
* Maurice Godelier
* David Graeber
* Jane I. Guyer
* Keith Hart
* Marvin Harris
* Bronisław Malinowski
* Marcel Mauss
* Sidney Mintz
* Karl Polanyi
* Marshall Sahlins
* Harold K. Schneider
* Eric Wolf

Social and cultural anthropology

* v
* t
* e

Sociology

* History
* Outline
* Portal:Society
* By country

Main theories

* Conflict theory
* Structural functionalism
* Symbolic interactionism
* Critical theory
* Positivism
* Social change
* Social constructionism

Methods

* Quantitative
* Qualitative
* Comparative
* Computational
* Ethnographic
* Conversation analysis
* Historical
* Interview
* Mathematical
* Network analysis
* Survey

Major subfields

* Criminology
* Culture
* Demography
* Development
* Deviance
* Economic
* Education
* Environmental
* Family
* Feminist
* Gender
* Health
* Immigration
* Industrial
* Inequality
* Knowledge
* Law
* Literature
* Medical
* Military
* Organizational
* Political
* Race and ethnicity
* Religion
* Rural
* Science
* Social movements
* Social psychology in sociology
* Stratification
* Technology
* Terrorism
* Urban

Browse

* Bibliography
* Index
* Journals
* Organizations
* People
* Timeline

* v
* t
* e

Social studies of finance is an interdisciplinary research area that combines perspectives from anthropology, economic sociology, science and technology studies, international political economy, behavioral finance, and cultural studies in the study of financial markets and financial instruments. Work in social studies of finance emphasizes the social and cultural dimensions of financial activities, but focuses also on technical and economic dimensions such as pricing and trading.

## Contents

* 1 History
* 2 Main topics
* 3 Major references
* 4 External links

## History

Financial markets have been an object for sociological inquiry since, at least, Max Weber’s Die Börse. The rise of quantitative financial theory in financial economics from the 1950s onwards has led to an academic specialization on financial markets rather focused on economic modeling, and poorly attentive to sociological aspects. In the 1980s, a number of economic sociologists developed empirical investigation on the social structure and cultural characteristics of financial markets, especially in the US. Such pioneering researcher included contributions from Wayne E. Baker, Mitchel Y. Abolafia and Charles W. Smith, and was based on methods such as ethnographic observation or social network analysis. In the 1990s, a number of researchers from the field of science and technology studies such as Karin Knorr-Cetina and Donald A. MacKenzie started also developing empirical research in this area, with close attention to the role of expert knowledge and technology in financial activities.

## Main topics

Research topics in social studies of finance include the cultural world and work habits of professionals in financial markets, the globalization and regulation of financial services, the processes of innovation in the financial industry and the problems of risk and uncertainty that characterize such processes.

## Major references

* Adler, Patricia A. and Adler, Peter (eds) (1984) The Social Dynamics of Financial Markets, Greenwich (Connecticut): The JAI Press. ISBN 0-89232-435-X
* Bernstein, Peter (1993) Capital Ideas: The Improbable Origins of Modern Wall Street, New York: The Free Press. ISBN 0-02-903012-9
* Abolafia, Mitchel Y. (1997) Making Markets: Opportunism and Restraint on Wall Street, Cambridge (Massachusetts): Harvard University Press. ISBN 0-674-54324-6
* Hertz, Ellen (1998) The Trading Crowd: An Ethnography of the Shanghai Stock Market, Cambridge: Cambridge University Press. ISBN 0-521-56497-2
* Smith, Charles W. (1999) Success and Survival on Wall Street: Understanding the Mind of the Market, Lanham (Maryland): Rowman & Littlefield. ISBN 0-8476-9490-9
* Godechot, Olivier (2001) Les Traders: Essai de Sociologie des Marchés Financiers, Paris: La Découverte. ISBN 2-7071-3385-X
* Godechot, Olivier (2017) Wages, Bonuses and Appropriation of Profit in the Financial Industry, London: Routledge. ISBN 978-1-138-12396-0
* Knorr Cetina, Karin and Preda, Alex (eds) (2004) The Sociology of Financial Markets, Oxford: Oxford University Press. ISBN 0-19-927559-9
* MacKenzie, Donald (2006) An Engine, not a Camera: How Financial Models Shape Markets, Cambridge (Massachusetts): The MIT Press. ISBN 0-262-13460-8

## External links

* Social Studies of Finance web resource (University of Edinburgh)
* Social Studies of Finance Association (France)
* Social Studies of Finance Network international mailing list

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