Economic embeddedness and materiality in a financial market setting
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The notion of embeddedness (Granovetter 1985) neglects of the material dimension of economic relations. This paper contributes to the literature of market devices (Callon, et al., 2007) with an exploration of the material dimensions of economic embeddedness in the case of the everyday market activities of a group of non-professional investors in the UK. It examines the attributes of a materially embedded market through the categories of socio-economic embeddedness specified by Uzzi (1997) and draws attention to the superficial and rhetorical nature of the face-to-face social relations encountered in this market. The paper seeks to invigorate the notion of embeddedness by expanding the mechanisms through which socio-economic relations are understood to arise. The paper offers support to the literature of market devices’ assertion that a concept of materially embedded economic relations can accommodate politics, culture, and regulation, and that it offers a nuanced perspective on agency and identity in the marketplace.
Roscoe , P J 2013 , ' Economic embeddedness and materiality in a financial market setting ' The Sociological Review , vol 61 , no. 1 , pp. 41-68 . DOI: 10.1111/1467-954x.12004
The Sociological Review
This is the author's final version of this article © 2013 The Author. The definitive version published in The Sociological Review © 2013 The Editorial Board of The Sociological Review is available at http://onlinelibrary.wiley.com
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