Pub Date : 2023-09-14DOI: 10.1080/03085147.2023.2246263
Sarah Bracking, Maud Borie, Glenn Sim, Theo Temple
This paper explores the issuance and growth of transition and sustainability-linked bonds into the green market segment normally reserved for green bonds between 2018 and 2021. Using a performative economics and STS approach we examine how key terms within environmental political discourse – transition, green, sustainability – have been incorporated into the operation of investment markets, and given specific, if unstable and contested, technico-economic forms. Using event ethnography, industry literature and primary interviews, we examine how classification works as a market device, by exploring why the newer ‘transition bond’ was favoured by some investors but not others in comparison to green and sustainability bonds. We argue that the credibility of different green labelled products is being mediated by uneven references to scientific evidence, in the context of competing marketization strategies, which have world-making effects.
{"title":"Turning investments green in bond markets: Qualification, devices and morality","authors":"Sarah Bracking, Maud Borie, Glenn Sim, Theo Temple","doi":"10.1080/03085147.2023.2246263","DOIUrl":"https://doi.org/10.1080/03085147.2023.2246263","url":null,"abstract":"This paper explores the issuance and growth of transition and sustainability-linked bonds into the green market segment normally reserved for green bonds between 2018 and 2021. Using a performative economics and STS approach we examine how key terms within environmental political discourse – transition, green, sustainability – have been incorporated into the operation of investment markets, and given specific, if unstable and contested, technico-economic forms. Using event ethnography, industry literature and primary interviews, we examine how classification works as a market device, by exploring why the newer ‘transition bond’ was favoured by some investors but not others in comparison to green and sustainability bonds. We argue that the credibility of different green labelled products is being mediated by uneven references to scientific evidence, in the context of competing marketization strategies, which have world-making effects.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134911708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-13DOI: 10.1080/03085147.2023.2242187
Alex Preda, Ruowen Xu, Julie Valk
Market making is a crucial activity in financial markets, expected to reduce uncertainties related to price and liquidity information, and to enable strategic interactions among traders. Sociologis...
{"title":"Purity and dangers: Market making, structural uncertainty, and circuits of exchange in the cryptoeconomy","authors":"Alex Preda, Ruowen Xu, Julie Valk","doi":"10.1080/03085147.2023.2242187","DOIUrl":"https://doi.org/10.1080/03085147.2023.2242187","url":null,"abstract":"Market making is a crucial activity in financial markets, expected to reduce uncertainties related to price and liquidity information, and to enable strategic interactions among traders. Sociologis...","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"2 11","pages":""},"PeriodicalIF":3.4,"publicationDate":"2023-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138505619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-13DOI: 10.1080/03085147.2023.2245633
Tim White
Housing has long been the quintessential rentier asset. But under financialized capitalism its enrolment into accumulation dynamics has greatly intensified. As investors increasingly turn to residential real estate in search of corporate rents, the logic of assetization is reaching novel locations in the housing process – extending to new scales, metrics and micro-morphologies. This paper argues one such novel location is that most intimate and familiar of places: the bed. Bringing together constructivist and political economy approaches to assets and drawing on the empirical case of co-living, the bed is identified as both a technical tool for projecting and enhancing income from real estate, and a strategy for de-risking investments by hyper-focusing on the necessities of life. Reducing domestic space to a technology for bare repose, bed-as-asset offers key insights into how the rhythms of housing are being harmonized with the needs of investors.
{"title":"Beds for rent","authors":"Tim White","doi":"10.1080/03085147.2023.2245633","DOIUrl":"https://doi.org/10.1080/03085147.2023.2245633","url":null,"abstract":"Housing has long been the quintessential rentier asset. But under financialized capitalism its enrolment into accumulation dynamics has greatly intensified. As investors increasingly turn to residential real estate in search of corporate rents, the logic of assetization is reaching novel locations in the housing process – extending to new scales, metrics and micro-morphologies. This paper argues one such novel location is that most intimate and familiar of places: the bed. Bringing together constructivist and political economy approaches to assets and drawing on the empirical case of co-living, the bed is identified as both a technical tool for projecting and enhancing income from real estate, and a strategy for de-risking investments by hyper-focusing on the necessities of life. Reducing domestic space to a technology for bare repose, bed-as-asset offers key insights into how the rhythms of housing are being harmonized with the needs of investors.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135739707","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-03DOI: 10.1080/03085147.2023.2225346
Noëlle Rohde
Abstract The political ideal of meritocracy has increasingly come under attack, but continues to figure centrally in the national identity of many self-declared liberal democracies, including Germany. A question which remains underexplored is where and how meritocratic thinking becomes ingrained in individuals to account for its pervasive appeal. This paper argues that the school grade plays a pivotal role. Ethnographic fieldwork in a German comprehensive school revealed that students consistently defended grading even though they often received very low grades themselves. The pupils’ arguments evoked core meritocratic motifs of betterment, hierarchy and social ascent. In order to explain this finding, grades are situated in a wider theory of quantification, arguing that it is in their capacity as numbers that grades encourage meritocratic thinking.
{"title":"‘To assign people their place in society’: School grades and the quantification of merit","authors":"Noëlle Rohde","doi":"10.1080/03085147.2023.2225346","DOIUrl":"https://doi.org/10.1080/03085147.2023.2225346","url":null,"abstract":"Abstract The political ideal of meritocracy has increasingly come under attack, but continues to figure centrally in the national identity of many self-declared liberal democracies, including Germany. A question which remains underexplored is where and how meritocratic thinking becomes ingrained in individuals to account for its pervasive appeal. This paper argues that the school grade plays a pivotal role. Ethnographic fieldwork in a German comprehensive school revealed that students consistently defended grading even though they often received very low grades themselves. The pupils’ arguments evoked core meritocratic motifs of betterment, hierarchy and social ascent. In order to explain this finding, grades are situated in a wider theory of quantification, arguing that it is in their capacity as numbers that grades encourage meritocratic thinking.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"89 1","pages":"506 - 530"},"PeriodicalIF":3.4,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76226506","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-03DOI: 10.1080/03085147.2023.2238463
Donald MacKenzie, Koray Caliskan, Charlotte Rommerskirchen
Abstract A user’s online action is often followed, around a second later, by ads being shown to her/him. Much happens in that second, including near-instantaneous auctions (sometimes coordinated by the user’s own phone or other device) in which algorithms bid to show particular advertisers’ ads. Contributing to the burgeoning social-science literature on online advertising, we examine contending material forms these auctions take in ‘open display’ advertising. We trace the emergence of Google’s centralized auctions, and how they have been challenged by decentralized ‘header bidding’. We argue: first, that ad platforms should be seen as ‘stack economization’ processes, which layer different forms of economization in complex ways; second, that those processes are sometimes fiercely contested, and can be the site of intricate – and currently changing – material politics.
{"title":"The longest second: Header bidding and the material politics of online advertising","authors":"Donald MacKenzie, Koray Caliskan, Charlotte Rommerskirchen","doi":"10.1080/03085147.2023.2238463","DOIUrl":"https://doi.org/10.1080/03085147.2023.2238463","url":null,"abstract":"Abstract A user’s online action is often followed, around a second later, by ads being shown to her/him. Much happens in that second, including near-instantaneous auctions (sometimes coordinated by the user’s own phone or other device) in which algorithms bid to show particular advertisers’ ads. Contributing to the burgeoning social-science literature on online advertising, we examine contending material forms these auctions take in ‘open display’ advertising. We trace the emergence of Google’s centralized auctions, and how they have been challenged by decentralized ‘header bidding’. We argue: first, that ad platforms should be seen as ‘stack economization’ processes, which layer different forms of economization in complex ways; second, that those processes are sometimes fiercely contested, and can be the site of intricate – and currently changing – material politics.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"26 1","pages":"554 - 578"},"PeriodicalIF":3.4,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76098741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-03DOI: 10.1080/03085147.2023.2237350
Christopher Holmes, David Yarrow
Abstract This paper analyses the rise of environmental accounting in global governance via a case study of the UN System of Environmental-Economic Accounting. We draw on recent literature that highlights the boundary between ‘economy’ and ‘non-economy’ as an important site of politics, and which establishes the key role of accounting practices in constructing that boundary. We show how the conceptual framework underpinning emergent global environmental accounting standards attempts to distinguish economy from non-economy in a way consistent with mainstream macroeconomic thought. However, and in contrast to existing critical accounts, we demonstrate that attempts to draw a clear boundary between the ‘economic’ and ‘non-economic’ aspects of the environment sometimes end up de-stabilizing that very distinction, establishing heterogenous notions of economic value that are increasingly inconsistent with standard national accounting practices.
{"title":"Global environmental accounting and the remaking of the economy-environment boundary","authors":"Christopher Holmes, David Yarrow","doi":"10.1080/03085147.2023.2237350","DOIUrl":"https://doi.org/10.1080/03085147.2023.2237350","url":null,"abstract":"Abstract This paper analyses the rise of environmental accounting in global governance via a case study of the UN System of Environmental-Economic Accounting. We draw on recent literature that highlights the boundary between ‘economy’ and ‘non-economy’ as an important site of politics, and which establishes the key role of accounting practices in constructing that boundary. We show how the conceptual framework underpinning emergent global environmental accounting standards attempts to distinguish economy from non-economy in a way consistent with mainstream macroeconomic thought. However, and in contrast to existing critical accounts, we demonstrate that attempts to draw a clear boundary between the ‘economic’ and ‘non-economic’ aspects of the environment sometimes end up de-stabilizing that very distinction, establishing heterogenous notions of economic value that are increasingly inconsistent with standard national accounting practices.","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"24 1","pages":"449 - 474"},"PeriodicalIF":3.4,"publicationDate":"2023-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78214026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.18207/criso.2023..138.41
Keuntae Kim
{"title":"The Current Status and Determinants of Premarital Pregnancy in Low-Fertility Era","authors":"Keuntae Kim","doi":"10.18207/criso.2023..138.41","DOIUrl":"https://doi.org/10.18207/criso.2023..138.41","url":null,"abstract":"","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"37 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83560151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.18207/criso.2023..138.196
Jong-min Choi
{"title":"Japanese Prime Minister’s Nuclear Discourse after Fukushima Daiichi Accident : Is the articulation of developmentalism an effective strategy?","authors":"Jong-min Choi","doi":"10.18207/criso.2023..138.196","DOIUrl":"https://doi.org/10.18207/criso.2023..138.196","url":null,"abstract":"","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"37 2 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78015804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-30DOI: 10.18207/criso.2023..138.240
민정 김
{"title":"‘신자유주의’ 공정 논의에 대한 비판적 고찰 : 김정희원, 『공정 이후의 세계』(창비, 2022)","authors":"민정 김","doi":"10.18207/criso.2023..138.240","DOIUrl":"https://doi.org/10.18207/criso.2023..138.240","url":null,"abstract":"","PeriodicalId":48030,"journal":{"name":"Economy and Society","volume":"145 1","pages":""},"PeriodicalIF":3.4,"publicationDate":"2023-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75287815","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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