The Temporalities of the Market

Miyazaki, Hirokazu

doi:10.1525/aa.2003.105.2.255

Cited by 180 publications

(73 citation statements)

References 36 publications

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“…There are several anthropological literatures on the present in which I see this date-as-event floating very close to the surface of analysis: the burgeoning work on debt in political economy (Han 2004;Obukhova 2002;Roitman 2005;Williams 2004); the temporal projections of hope in the anthropology of religion (Miyazaki 2004) and of second chances in the anthropology of trauma and subjectivity (Das 2006); the manipulations of contractual terms in the anthropology of corruption (Smith 2007); the temporality of the law in the margins of the state (Das and Poole 2004); and, of course, the increasingly sophisticated attention to ideas and practices in finance itself (Maurer 2005b;Miyazaki 2003;Zaloom 2005). It is most obviously implicit in Marilyn Strathern's edited collection on "audit culture," as an intrinsic part of a culture "in the making .…”

Section: What Next? a Temporality Of Datesmentioning

confidence: 99%

Prophecy and the near future: Thoughts on macroeconomic, evangelical, and punctuated time

Guyer

2007

American Ethnologist

671

366

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A view from 1950s and 1960s Britain suggests that the public culture of temporality in the United States has shifted from a consequential focus on reasoning toward the near future to a combination of response to immediate situations and orientation to a very long‐term horizon. This temporal perspective is most marked in the public rhetoric of macroeconomics, but it also corresponds in remarkable ways to evangelicals' views of time. In this article, I trace the optionality and consonance of this shift toward the relative evacuation of the near future in religion and economics by examining different theoretical positions within each domain. In conclusion, I suggest that the near future is being reinhabited by forms of punctuated time, such as the dated schedules of debt and other specific event‐driven temporal frames.

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Section: What Next? a Temporality Of Datesmentioning

confidence: 99%

Prophecy and the near future: Thoughts on macroeconomic, evangelical, and punctuated time

Guyer

2007

American Ethnologist

671

366

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“…In a similar vein, Hirokazu Miyazaki (2003) has argued in a study on arbitrage trading on the Tokyo stock exchange that this trading strategy is based on an underlying "faith" on the part of the traders in the efficient market hypothesis. Arbitrage trading seeks to identify financial assets which are "mispriced relative to their theoretical value" (ibid.…”

Section: Based On Research By Douglas Holmes (2009) Stephen Nelson Amentioning

confidence: 96%

Imagined Futures: Fictionality in Economic Action

Beckert

2011

SSRN Journal

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Starting from the assumption that decision situations in economic contexts are characterized by fundamental uncertainty, the paper argues that the decision-making of intentionally rational actors is anchored in fictions. "Fictionality" in economic action is the inhabitation in the mind of an imagined future state of the world and the beliefs in causal mechanisms leading to this future state. Actors are motivated in their actions by the imagined future and organize their activities based on these mental representations. Since these representations are not confined to empirical reality, fictionality is also a source of creativity in the economy. Fictionality opens up a way to an understanding of the microfoundations of the dynamics of the economy. The paper develops the notion of fictional expectations and applies it to investments, consumption and money. The last part relates the notion of fiction to calculation and social macrostructures as two other devices of decision-making and hints at the relevance of fictionality for the macrodynamics of capitalism.

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“…Recent sociological and anthropological studies of financial markets (e.g., Miyazaki 2003;du Gay and Pryke 2002;Knorr Cetina and Bruegger 2002) offer new insights into how markets operate at micro-levels and deal in new products. The analysis here explores variations among financial institutions in their perceptions of the future.…”

Section: Introductionmentioning

confidence: 99%

Time orientations and emotion-rules in finance

Pixley

2009

Theor Soc

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This article explores how Anglo-American financial firms since the 1980s have operated and acted in an increasingly deregulated, risky, and uncertain arena. I look at these firms and their actions with a particular focus on "temporality" and requisite "emotion-rules," where variations in emotion-rules correspond with organizational definitions of uncertainty. Firms impose specific emotion-rules, depending on national policies, official duties, and interpretations of each risk. In finance, caveat emptor (i.e., buyer or lender distrust) is an emotion-rule set in screening policies and data collection for credit risks and risks of fraud by personnel, and it gives rise to actual emotions. I argue that three time-orientations are significant in creating emotion-rules. If a past, present, or a long-term future is deployed to construct a future, that creates and frames an institution's attempts to manage uncertainty. Looking exclusively at Anglo-American corporate finance policies and strategies (often deemed the international "one best way"), six modes of certainty constructions are presented. Each is assessed against the dispositions and emotional strategies required in highly-skilled careers, in specific organizational settings. The relative influence of individual perspectives, institutional rules and general typologies of social action is assessed and found to comprise one past view, three present views, and one future-oriented perspective towards the future. Implications are outlined for emotion-rules relevant to financial careers and office.

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The Temporalities of the Market

Cited by 180 publications

References 36 publications

Prophecy and the near future: Thoughts on macroeconomic, evangelical, and punctuated time

Prophecy and the near future: Thoughts on macroeconomic, evangelical, and punctuated time

Imagined Futures: Fictionality in Economic Action

Time orientations and emotion-rules in finance

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