ASA 2009, call for papers: Politics of Markets
October 4, 2008
In the light of the events of the past few weeks, which show once again how irrevocably intertwined politics and financial markets are, it is only appropriate to hold a session about politics and markets.
ASA has a central submission system. The papers go there and not to the organizers then are routed from there. The deadline is usually mid-January (not published yet) and full papers are required at that point. Here’s a link to the site. Yuval
ASA meeting 2009
Call for papers, session in the Economic Sociology section
Politics of markets: controversies, tools and policies
Yuval Millo, London School of Economics Daniel Beunza, Columbia Bus. School
In seeking to avoid the reduction of markets to political struggle, economic sociology has paid relatively little attention to the complex nature of markets-politics interface. Indeed, economic sociology has successfully established itself by advocating a less political focus on institutions, networks or cognitive structures. However, this has also meant that some effects of politics on the market have not been fully explored. This session is aimed as redressing this trend. It calls for papers that consider how politics interact and mediate, rather than substitute, the sphere of the market. We identify three promising themes.
- The politics of valuation. Whereas economics regards markets as self-regulating barometers of value, economic sociology looks at markets as forums for controversies over value. Controversies are a fundamental element of politics, but they also are the lifeblood of financial valuation, as the presentation and resolve of contrasting opinions is the fundamental process that drives activity and liquidity. Some examples of this include consumer activism, socially responsible investment, activist hedge funds, and even value investment or the work of securities analysts. Here, economic sociology can offer a novel and sophisticated view that ties together social movements and Wall Street investors, or public choice and consumer choice. In this vein, we are calling for papers that focus on controversies and conflicts within markets, and examine the relationship between such events and market structure and behaviour.
- Politics of market design. The institutional design of markets has pivotal influence on market outcomes, not least because underlying political motivations become embedded into the infrastructure of markets. Examples of this include securitization, government rescue of failing banks, the use of game theory in auction design, or the determination of property rights in science. Yet, in spite of the centrality of this dimension, the study of market design has been virtually neglected in economic sociology. We call for papers that analyse the effects that market and product design have on the shape and behaviour of markets.
- The marketization of public policy. In the last two decades, we have witnessed that markets play an increasingly important role in enacting public policy. This includes, among others, the mortgage finance, the development of green energies or the health care industry. What are the effects that the increasing reliance on markets has on the political system? We are calling for papers that analyse governmental projects or long-term policies (local, national or trans-national), their connections with markets, and the political outcomes that emerge as a result.