Legacies Logics Logistics

Legacies, Logics, Logistics brings together a set of essays, written both before and after the financial crisis of 2007–08, by eminent Africanist and economic anthropologist Jane I. Guyer. Each was written initially for a conference on a defined theme. When they are brought together and interpreted as a whole by Guyer, these varied essays show how an anthropological and socio-historical approach to economic practices—both in the West and elsewhere—can illuminate deep facets of economic life that the big theories and models may fail to capture. Focusing on economic actors—whether ordinary consumers or financial experts—Guyer traces how people and institutions hold together past experiences (legacies), imagined scenarios and models (logics), and situational challenges (logistics) in a way that makes the performance of economic life (on platforms made of these legacies, logics, and logistics) work in practice. Individual essays explore a number of topics—including time frames and the future, the use of percentages in observations and judgments, the explanation of prices, the coexistence of different world currencies, the reapplication of longtime economic theories in new settings, and, crucially, how we talk about the economy, how we use stable terms to describe a turbulent system. Valuable as standalone pieces, the essays build into a cogent method of economic anthropology.

The financial industry derives its legitimacy through the claim that it acts in the interest of shareholders. A vast international network of funds, banks, insurance companies, brokerages, rating agencies, and regulatory agencies defends its status by asserting that market mechanisms determine a company’s true value and therefore enriching shareholders contributes to the socially optimal allocation of capital. Is this how stock prices are determined in practice? What does stock valuation reveal about the supposed efficiency of markets and what it means to act on behalf of shareholders? Horacio Ortiz provides a critical analysis of the social institutions and practices that produce and regulate stock pricing and valuation. He examines how financial professionals evaluate and invest in listed companies, unraveling the contradictory definitions of financial value that shape their behavior. Ortiz demonstrates how ideologically laden notions of investing skill and efficient markets are central to the everyday practices of financial valuation, as well as how they function to justify the broader system. He scrutinizes the technical aspects of valuation and investment, their place in social relations within and among companies, and their relation to state regulation in order to demystify how the financial industry presents prices as truths that the rest of society must accept. Drawing on ethnographic fieldwork conducted among stock brokers and investment management companies in New York and Paris, this book shows how the political imaginaries that underpin financial markets are central to producing, sustaining, and legitimizing global inequalities.

Slicing through blunt theories of supply and demand, Callon presents a rigorously researched but counterintuitive model of how everyday market activity gets produced. If you’re convinced you know what a market is, think again. In his long-awaited study, French sociologist and engineer Michel Callon takes us to the heart of markets, to the unsung processes that allow innovations to become robust products and services. Markets in the Making begins with the observation that stable commercial transactions are more enigmatic, more elusive, and more involved than previously described by economic theory. Slicing through blunt theories of supply and demand, Callon presents a rigorously researched but counterintuitive model of market activity that emphasizes what people designing products or launching startups soon discover—the inherent difficulties of connecting individuals to things. Callon’s model is founded upon the notion of “singularization,” the premise that goods and services must adapt and be adapted to the local milieu of every individual whose life they enter. Person by person, thing by thing, Callon demonstrates that for ordinary economic transactions to emerge en masse, singular connections must be made. Pushing us to see markets as more than abstract interfaces where pools of anonymous buyers and sellers meet, Callon draws our attention to the exhaustively creative practices that market professionals continuously devise to entangle people and things. Markets in the Making exemplifies how prototypes, fragile curiosities that have only just been imagined, are gradually honed into predictable objects and practices. Once these are active enough to create a desired effect, yet passive enough to be transferred from one place to another without disruption, they will have successfully achieved the status of “goods” or “services.” The output of this more ample process of innovation, as redefined by Callon, is what we recognize as “the market”—commercial activity, at scale. The capstone of an influential research career at the forefront of science and technology studies, Markets in the Making coherently integrates the empirical perspective of product engineering with the values of the social sciences. After masterfully redescribing how markets are made, Callon culminates with a strong empirical argument for why markets can and should be harnessed to enact social change. His is a theory of markets that serves social critique.

Multi-disciplinary examination of the role of ordinary African people as agents in the generation and distribution of well-being in modern Africa.

In the aftermath of apartheid, South Africa undertook an ambitious revision of its intellectual property system. In Lion’s Share Veit Erlmann traces the role of copyright law in this process and its impact on the South African music industry. Although the South African government tied the reform to its postapartheid agenda of redistributive justice and a turn to a postindustrial knowledge economy, Erlmann shows how the persistence of structural racism and Euro-modernist conceptions of copyright threaten the viability of the reform project. In case studies ranging from antipiracy police raids and the crafting of legislation to protect indigenous expressive practices to the landmark lawsuit against Disney for its appropriation of Solomon Linda’s song "Mbube" for its hit “The Lion Sleeps Tonight” from The Lion King, Erlmann follows the intricacies of musical copyright through the criminal justice system, parliamentary committees, and the offices of a music licensing and royalty organization. Throughout, he demonstrates how copyright law is inextricably entwined with race, popular music, postcolonial governance, indigenous rights, and the struggle to create a more equitable society.

Fierce competition in today's global market provides a powerful motivation for developing ever more sophisticated logistics systems. This book, written for the logistics manager and researcher, presents a survey of the modern theory and application of logistics. The goal of the book is to present the state-of-the-art in the science of logistics management. As a result, the authors have written a timely and authoritative survey of this field that many practitioners and researchers will find makes an invaluable companion to their work.

Contemporary forms of infrastructural development herald alternative futures through their incorporation of digital technologies, mobile capital, international politics and the promises and fears of enhanced connectivity. In tandem with increasing concerns about climate change and the anthropocene, there is further an urgency around contemporary infrastructural provision: a concern about its fragility, and an awareness that these connective, relational systems significantly shape both local and planetary futures in ways that we need to understand more clearly. Offering a rich set of empirically detailed and conceptually sophisticated studies of infrastructural systems and experiments, present and past, contributors to this volume address both the transformative potential of infrastructural systems and their stasis. Covering infrastructural figures; their ontologies, epistemologies, classifications and politics, and spanning development, urban, energy, environmental and information infrastructures, the chapters explore both the promises and failures of infrastructure. Tracing the experimental histories of a wide range of infrastructures and documenting their variable outcomes, the volume offers a unique set of analytical perspectives on contemporary infrastructural complications. These studies bring a systematic empirical and analytical attention to human worlds as they intersect with more-than-human worlds, whether technological or biological.

Sophie Day explores the houses that are imagined, built, repurposed, and dismantled among different communities in Ladakh, drawing attention to the ways in which houses are like and unlike people.A handful of in-depth ‘house portraits’ are selected for the insight they provide into major regional developments, based on the author’s extended engagement since 1981. Most of these houses are Buddhist and associated with the town of Leh. Drawing on both image and text, collaborative methods for assembling material show the intricate relationships between people and places over the life course. Innovative methods for recording and archiving such as ‘storyboards’ are developed to frame different views of the house. This approach raises analytical questions about the composition of life within and beyond storyboards, offering new ways to understand a region that intrigues specialists and non-specialists alike.