On the Politics of Calculative Devices

This article examines the politics of calculative devices in one of the most successful areas of finance, the life insurance business. By empirically tracing an insurance applicant's risk trajectory, it analyses how calculative devices perform insurance underwriting through acting on insurance risk decisions. This allows one to document what calculative devices exactly do, and to point out the political effects of what they do. First, it highlights the fact that, contrary to thinking in terms of ‘the insurance logic’, there are multiple ways of calcuting life insurance risks. Second, it underscores the crucial role of calculative devices in that process by demonstrating how they align considerations as divergent as economics and medicine to perform a life insurance market. It then demonstrates the political effects of these calculative devices by making explicit how the latter contribute to the production of inequalities in calculative power in life insurance. In this way, the article links up insights from the performativity approach in the sociology of markets with the broader question of governing economic life. Such an approach, it is argued, provides the opportunity to open up the organization of economic markets and to put classic questions of justice and power struggles in economic markets on the agenda again.     

Senses and artifacts in market transactions: the Korean case of agricultural produce auctions

This article examines the relationship between the senses, artifacts, and trade at South Korean agricultural produce auctions. It explores the impacts of market devices on sensory interactions between auctioneers and buyers that are essential to market transactions. Through ethnographic interviews and participant observations at Garak Market, Seoul, this study compares hand signal trading with electronic trading in agricultural produce auctions. It analyzes how the senses affect auction price estimation and formation, as well as their contribution to economic agency and social relationship among economic actors. The study then examines the impact of new market devices in electronic trading (e.g. trading screens, computer monitors, and wireless bidding terminals) on trading’s sensory aspects of seeing or hearing. It argues that the devices change the modality of sensory interactions between auctioneers and buyers. This transforms power struggles, forming a looser but more equal relationship between auctioneers and buyers and decreasing the overall auction price in the market.     

Cryptocurrencies as market singularities: the strange case of Bitcoin

Since its creation in 2009, the electronic currency Bitcoin has generated volumes of online debate in the business press. While there have been plenty of economic arguments situating it as a financial bubble about to collapse including from Nobel Prize winning economists, its price value has proven to be more durable than many have predicted. To explain this durability, Karpik’s conception of market singularities is used to understand the Bitcoin phenomenon by outlining the beliefs that maintain Bitcoin’s status as a volatile financial asset. Market singularities are markets for particular kinds of goods and services that are of uncertain and incommensurable value. Singularities markets have communities of followers and a distinctive belief system that ascribes value to a particular product, service, or asset. Developing Karpik’s conception, the paper explores the libertarian political belief system that surrounds Bitcoin’s status as a financial asset. I also outline some political tensions within the electronic currency community concerning governance and centralisation.     

Non-marketizing agents in the study of markets: competing legacies of performativity and actor-network-theory in the marketization research program

One line of criticism leveled against studies of markets inspired by the economization research program [Çal??kan, K. &; Callon, M. (2009) ‘Economization, part 1: shifting attention from the economy towards processes of economization’, Economy and Society, vol. 38, no. 3, pp. 369–398 and Çal??kan, K. &; Callon, M. (2010) ‘Economization, part 2: a research programme for the study of markets’, Economy and Society, vol. 39, no. 1, pp. 1–32.] is that their analytical priorities reflect an economics-centric perspective: they prioritize the study of market exchange itself and of agents promoting market framing, while leaving non-economic agendas and the broader contexts of markets both understudied and undertheorized. This weakness tends to be attributed to contingent analytical priorities, which can be remedied by extending the program’s focus without changing its theoretical tenets. This article, in contrast, suggests that these analytical priorities stem from a theoretical tension within the program, which is caused by the complete, instead of a selective adoption of the theoretical tools of the performativity agenda in the marketization program. As a result, while the program promotes the inclusion of non-marketizing agents through the notion of co-performation, its call to focus on those phenomena that agents qualify as ‘economic’ and on the making of market exchange delimits the analysis of non-marketizing agents to their helping/hindering effects on market framing. The solution proposed is to reassess some of the performativity-inspired tools of the program in favor of a more ANT-inspired approach to markets.     

Performativity and grassroots politics: on the practice of reshuffling mafia power

Recent uses of performativity have been engaged with bridging the gap between the economy and politics. The concept of performation has for instance been used to enable discursive and material assemblages that challenge this dichotomy, with the general aim of transforming the economy. While the overall intent of this article is to contribute to this bridging, its direction of travel is the opposite: to bring the economy into politics. Specifically, it situates the notion of performativity within studies on grassroots politics in a material sense. First, it discusses some of the leading scholarship on grassroots movements, focusing on their take on the economy. It moves on to suggest that some of the problems that are identified can be addressed using performativity theory, the benefits of which are discussed in the second part. Finally, it empirically illustrates the theoretical discussion by analysing the performativity of the discourses, things and people that are jointly fighting the Mafia today. The article places social movement studies in dialogue with scholarship which is preoccupied with the economic-political cleft, in order to encourage thinking of the economy as a space for political possibility and social struggle, rather than seeing it as a place of capitalocentrism, structural exploitation and inescapability.     

Stigma,agency, and motherhood: Exploring the performativity of dual mother–female sex workers identities in Kathmandu,Nepal

ABSTRACT

Drawing upon the lived experiences of 35 female sex workers (FSW) in Kathmandu, Nepal, this article explores the performativity of sex work–mother dual identities. Performativity presents a way to rupture proscribed singular identities of being a sex worker and highlight agency through the act of expressing dual identities. Global South research has established a link between mothers’ vulnerability and the likelihood of sex work becoming the means of livelihood. Thematic analysis highlights performativity of the dual identities as well as highlighting agency of FSWs to navigate economic necessity, stigmatized societal conditions, gender inequalities, and motherhood through performativity of dual identities.     

A good hustle: the moral economy of market competition in adult webcam modeling

In this article, we examine how models working on Chaturbate, one of the world’s most popular adult webcam platforms, negotiate and make sense of the dynamic ways in which this platform configures their competitive environment. By combining different perspectives from the field of economic sociology, we demonstrate how competition on Chaturbate is shaped by various market devices whose strategic negotiation informs – and is informed by – the moral economy articulated on web forums where models gather to discuss their work experiences and market strategies. We first introduce Chaturbate and the ways in which it organizes market competition, surveying the environment models have to negotiate. We then zoom in on two controversial strategies for beating the competition, each of which upset the moral economy of Chaturbate’s model community. Subsequently, we turn to what models term ‘the hustle,’ which encompasses a number of competitive strategies and criteria judged to be fair and thus legitimate. The final part of our analysis considers the limitations of the hustle, as well as the meritocratic and entrepreneurial discourse that surround it, in light of what we identify as Chaturbate’s ‘manufactured uncertainty.’     

On the Possibility of Organ Markets and the Performativity of Economics

Callon's (1998) ‘performativity thesis’ encourages us to consider how the boundaries of the economy are negotiated. This paper explores one such discussion: the contributions of economics to the debates over the introduction of markets for transplant organs. The paper pays particular attention to the normative aspects of economic valuation. It examines the philosophical antecedents of economic contributions to the debate, notes the rhetorical and linguistic power of economic calculation and then focuses on three distinct sets of calculations concerning the value of a transplant kidney: a contingent valuation calculation, a risk-premia based calculation, and a cost-efficiency simulation. In each case, it shows that economic facts, once created, may travel freely through normative debates and claim moral force. The technical process of economic modelling is therefore seen to be a crucial aspect of the economisation of this area, and of economic performativity more generally.     

Financial performativity as evidence of immanence: the phenomenology of liquidity crisis in contemporary markets for risk

The sociologist Bruno Latour has often expressed aversion to immanent critique, framing actor-network theory in terms of focus on visible phenomena. In spite of this, research on financial performativity inspired by Latour’s perspective can still be interpreted in terms of immanent critique and related to Political Economy (a critical discipline), through Kant’s critique of metaphysics as a ‘regulative axiom’. Research on financial performativity has uncovered evidence of the existence of constructive processes that show how an idea (like a financial model) can become something like an ‘object’. This ‘objectivity’ appears to contradict Kant’s critique of metaphysics – that there always remains a gap between our ideas and the world itself. This paper therefore explores financial performativity as a ‘contradiction’, historicizing it to argue that ‘Barnesian performativity’ and ‘financial liquidity’ are ‘immanent’ to one another in the events of recent financial crises. The paper conducts this interpretation to provide a new conceptualization of ‘financial liquidity’ that is more empirically apparent, helping to overcome some of the limits in the discussion of ‘liquidity’ in Political Economy (that Latour might want to highlight), where discussion occurs in metaphysical terms difficult to connect to actual events.     

Markets of Islam: performative charity and the Muslim middle classes in Turkey

ABSTRACT

This article examines the ways in which middle class Muslims in Turkey talk about Islamic ‘community’ and analyses these discourses in relation to the phenomenon of market Islam. The evidence is drawn from the author’s ethnographic fieldwork with donors, managers, and volunteers of a government friendly Islamic NGO, the Light House (Deniz Feneri Sosyal Yard?mla?ma ve Dayan??ma Derne?i) in 2009–2010, followed by subsequent trips in 2013 and 2015. I argue that Islamic charity is not merely a calculative economic behaviour or a reflection of deep-seated religious values, but rather a performative site of market Islam. In seeking to reconcile a faith-based understanding of charity with diverse interpretations of the neoliberal economy, I show that middle-class Muslims adhered to two discourses of ‘community’: whereas donors saw charitable giving as a market-enhancing mechanism, NGO managers defined their charitable work as part of an Islamic project focused on economic redistribution. Although they conceptualized the relationship between faith and markets in divergent ways, both discourses of market Islam posit ‘community’ as an intrinsic component of governing the poor in Turkey.     

The Subsidized Muse: Government and the Arts in Western Europe and the United States

Using the neo-classical justifications for government support of the arts that Dick Netzer discussed in The Subsidized Muse as a starting point, the article contends that market failure is not an useful concept to understand and explain cultural policies and the degree of government involvement, particularly when viewed from a comparative perspective. The basic fault is that historical- institutional arrangements and the role of non-state actors in the formation of cultural policies are not taken into account. Discussing some aspects of the institutional framework in the development of French, Swedish and U.S. cultural policies, the article concludes with a call for the use of neo-institutionalist perspectives in analyzing government intervention in the arts field.     

Regulating belonging: surveillance,inequality, and the cultural production of abjection

ABSTRACT

Conditions of abjection are increasingly viewed as problems to be managed with surveillance. Across disparate domains, bodies that challenge normalized constructions of responsible neoliberal citizenship are categorized, monitored, policed, and excluded in dehumanizing and often violent ways. This paper explores the role of surveillance in such processes. The registers covered include everyday abjection (welfare systems, battered women’s shelters, and homelessness), criminalized poverty (police targeting of the poor and emerging ‘poverty capitalism’ arrangements), and the radically adrift (the identification, tracking, and containment of refugees). In each of these cases, surveillance is yoked to structural inequalities and systems of oppression, but it also possesses a cultural dimension that thrusts marginalized and dehumanized subjectivities upon the abject Other. Therefore, I argue that in order to critique the gendered, racialized, and classed dimensions of contemporary surveillance, it is necessary to take seriously the mythologies that give meaning to surveillance practices and the subjectivities that are engendered by them.     

超大城市中的公共空间生活意象 ——夜市从纯商业向文创活力方向发展研究

中国城市的公共空间中一直存在群众自发形成商业活动的传统.在超大城市拥挤且有限的公共空间里,如何创造群众自发参与的公共空间,形成积极的城市生活意象,是值得深入思考的问题.中国有很多"草根夜市",是大城市作为"不夜城"的重要组成部分.但随着城市的发展,传统的夜市形式逐渐被取缔.以上海、武汉等超大城市为研究对象,调研夜市发展...     

Two games in town: a comparison of dealer and auction prices in contemporary visual arts markets

The article tests a couple of hypotheses relating to markets where demand is not taken as a given, but subject to sophisticated and encompassing price-building strategies. The study uses a data set that provides quoted dealer prices for medium-sized works of 100 leading visual artists from 1970 to 2004. These data are compared with auction price results for works by the same artists. The study reports significant discrepancies with respect to the relationship between the age of artists and prices paid for their works in the two markets, and with respect to general price developments in the two markets as measured by indices.

Investigation of Cheb relief intarsia and the study of the technological process of its production by micro computed tomography

Cheb relief intarsia is one of the most significant artistic techniques used in the early and middle baroque furniture manufacturing. The origin of this exceptional technique is closely tied to the city of Cheb and in a wider perspective, similarly to rondocubism or cubism applied in architecture; it is a branch of decorative arts distinctive just only for Czech lands. Here we report on the findings made on the basis of non-destructive X-ray micro computed tomography (μCT) analysis for determination of the condition and characteristics of the inner structures of an original plate of Cheb relief intarsia. The results of this analysis not only helped to clarify the manufacturing process itself, but also contributed to aim the future actions of the effective intarsia conservation in regard to the spreading internal cracks and defects in the plate discovered by μCT analysis.     

Water-repellent and biocide treatments: Assessment of the potential combinations

It is a common practice to use several chemical products during restoration projects of monuments or sculptures. However, care must be taken when combining the products to avoid a misuse. For example, it is well-known that applying a biocide on stone before a water-repellent leads to a diminishment of the hydrophobic effect of the treatment. But the application of biocide after a water-repellent treatment has been poorly analysed, although studies have proven that the stone looses its hydrophobicity after the application of the biocide. Henceforth, this study investigates the effects of biocide application on a water-repellent film and focuses on the possibilities to restore the efficiency of the previous water-repellent treatment (after the application of the biocide). At first, the tests were performed on glass slides to understand the mechanisms, with the subsequent results revealing that the biocide product deposits on the water-repellent film. Then, the study focuses on determining methods to remove the remains of biocide on limestone samples, previously treated with a water-repellent. The water-repellent used in the study is an alkylpolysiloxane, Rhodorsil H224 from Rhodia.     

Mapping the intermediate: lived technologies of money and value

ABSTRACT

As financial transactions are increasingly digitized, old and new kinds of intermediaries are only expanding in importance. Intermediaries, mediators and brokers sit at critical junctures and operate between diverse financial arenas and pathways. We argue that mapping the intermediate entails identifying how different kinds of actors—human and non-human, objects and interfaces, institutions and practices—delimit or reify but also stitch together and overcome spatial and temporal differences in people's financial lives, while taking on varying burdens of risk. Mapping the intermediate is both an empirical and methodological exercise. Empirically, it requires following the agents and traders, brokers and material objects that facilitate transactions and add, extract, or re-work different kinds of value. Methodologically, intermediaries and the intermediate are not only the objects of analysis but act as analytical tools in their own right, making the process and politics of transactions visible and tangible. Attending to the intermediate in our inquiries around money, currency and new digital financial technologies, thereby, offers new directions for grounding finance in politics and history and better connecting micro and macro and local and global economic processes.