Hostname: page-component-586b7cd67f-vdxz6 Total loading time: 0 Render date: 2024-11-23T16:51:08.613Z Has data issue: false hasContentIssue false
  • English
  • Français

The Laws of Finance For a Sociology of Finance and Law Entanglement

Published online by Cambridge University Press:  06 January 2022

Thomas Angeletti  and
Benjamin Lemoine
Thomas Angeletti
Affiliation:
CNRS – IRISSO, Paris Dauphine University (PSL) [[email protected]].
Benjamin Lemoine
Affiliation:
CNRS – IRISSO, Paris Dauphine University (PSL) [[email protected]].
Get access

Abstract

In this special issue, we unpack law and finance entities and consider their co-construction, entanglement and interchanging relationship. Adopting a processual sociology lens, we aim to connect micro-technical devices and controversies to the macroscopic big picture of financialized capitalism. We combine analytical tools from pragmatic sociology, emphasizing how social reality and institutions are (re-)enacted through trials, with a dynamic and historicized sociology of the state and the juridical field. Four avenues illustrate our research program on the sociology of financial law. First, we focus on how this juridical space is co-produced by public and private forces, organizations and initiatives. Second, we look at how financial law displaces and endogenizes core regalian purposes traditionally associated with the state. Third, we show the forms of asymmetries that pervade law enforcement in financial cases. Fourth, we address how power intervenes in normal and exceptional times, such as financial crises. The legal and financial co-production of political regimes shapes economies and legitimate forms of social distribution.

Résumé

Résumé

Cette introduction esquisse les grandes lignes d’un programme de recherche empirique et théorique sur la co-construction et les modalités d’enchevêtrement entre droit et finance. En adoptant une perspective sociologique processuelle, nous montrons comment il est possible de reconnecter les dispositifs socio-techniques juridico-financières, qui se déploient à l’échelle microsociale, à la « big picture » macrosociale du capitalisme financier. Nous combinons une analyse historicisée de l’État et du champ juridique avec les outils de la sociologie pragmatique, attentive à la façon dont la réalité sociale, les institutions et les acteurs de ces processus sont redéfini·e·s au cours d’épreuves successives. Ce programme de recherche sur la sociologie du droit financier se déploie principalement sur quatre axes. Premièrement, nous montrons comment cet espace juridique spécifique est coproduit par des forces et des organisations publiques et privées. Deuxièmement, nous examinons comment le droit financier déplace, redéfinit et « endogénéise » les prérogatives souveraines et de politiques publiques traditionnellement associées à l’État. Troisièmement, nous montrons les formes d’asymétries qui structurent le traitement judiciaire des affaires financières. Enfin, quatrièmement, nous abordons la manière dont ces formes de gouvernement et de pouvoir n’interviennent pas exclusivement lors de situations exceptionnelles, telles que les crises financières, mais aussi en régime ordinaire. La coproduction juridique et financière des régimes politiques façonne ainsi les économies et les formes légitimes de distribution sociale.

Zusammenfassung

Zusammenfassung

In diesem Artikel zeigen wir, wie Interpretationskämpfe um die Einhaltung von Vorschriften zu einer regulatorischen Differenzierung und damit zu einer Marktsegmentierung führen können. Dazu untersuchen wir die Entwicklung der unbesicherten Kreditvergabe in den Vereinigten Staaten in den Jahren zwischen 1900 und 1945. Im frühen 20. Jahrhundert war ein Großteil der Arbeiterschaft auf Löhne angewiesen, um Zugang zu Krediten zu erhalten: Dies erforderte die „legale Kodierung“ von Arbeitseinkommen in Kapital, bei der Kreditgeber Vorschüsse im Austausch für ein Pfandrecht auf zukünftige Einnahmen anboten. Die Regulierung dieser Transaktionen führte zu Konflikten zwischen fortschrittlichen Reformern, Kreditgebern und, nach 1929, den Bundesaufsichtsbehörden, die mehr als fünf Jahrzehnte andauerten. Ein historischer Vergleich dreier Bundesstaaten – Illinois, New York und Georgia - zeigt, dass sich die lokalen Diskussionen um drei Ergebnisse drehten - rechtlicher Status, Preisbildungsmethode und Sicherheiten –, die zu unterschiedlichen Regulierungswegen und Marktkonfigurationen auf bundesstaatlicher Ebene führten. Schließlich schuf die Politik des New Deal eine zusätzliche Ebene staatlicher Kodierung, die die Marktaufteilung zwischen unregulierten Zahltagskreditgebern, Nicht-Bank-Kreditunternehmen und Geschäftsbanken vertiefte. Auf den Finanzmärkten drehen sich die Diskussionen über Compliance oft um Computertechnologien, und wir schlagen vor, dass dies eine mögliche Schnittstelle zwischen den Analysen der Wissenschafts- und Technologiestudien zu Kapitalisierungsschemata und Katharina Pistor‘s Theorie der Kapitalmodulation darstellt.

Keywords

Financial lawFinancialized CapitalismBlack BoxPublic-PrivateJurisdictionDroit financierCapitalisme financierBoites noiresPublic-privéJurisdictionRegulierungKonsumkreditKapitalisierungWirtschaftssoziologieGeschichte der Vereinigten Staaten
Type
Research Article
Information
European Journal of Sociology / Archives Européennes de Sociologie , Volume 62 , Issue 2 , August 2021 , pp. 183 - 212
Copyright
© European Journal of Sociology 2022

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Abbott, Andrew, 2016. Processual Sociology (Chicago, Chicago University Press).CrossRefGoogle Scholar
Amicelle, Anthony, 2021. “Entre économie et sécurité. Système d’intermédiation dans la lutte contre la finance illicite,” Critique Internationale, forthcoming.Google Scholar
Angeletti, Thomas, 2017. “Finance on Trial: Rules and Justifications in the Libor Case,” European Journal of Sociology, 58 (1): 113–141.CrossRefGoogle Scholar
Angeletti, Thomas, 2019. “The Differential Management of Financial Illegalisms: Assigning Responsibilities in the Libor Scandal,” Law & Society Review, 53 (4): 1233–1265.CrossRefGoogle Scholar
Angeletti, Thomas, 2021. “La formation de l’économie française. Émergence et stabilisation d’une entité collective,” Politix, forthcoming.CrossRefGoogle Scholar
Babb, Sarah., 2003. “The IMF in Sociological Perspective: A Tale of Organizational Slippage,” St Comp Int Dev,” 38: 3–27.CrossRefGoogle Scholar
Baker Wayne, E., 1984. “The Social Structure of a National Securities Market,” American Journal of Sociology, 89 (4): 775–811.CrossRefGoogle Scholar
Barbot, Janine and Dodier, Nicolas, 2020. “The Normative Work of Victims of Medical Injuries,” in Jacob, M.-A. and Kirkland, A., eds, Research Handbook on Socio-Legal Studies of Medicine and Health (Cheltenham-Northampton, Edward Elgar Publishing: 270–286).CrossRefGoogle Scholar
Berkowitz, D., Pistor, Katharina and Richard, J. F., 1999. “Economic Development, Legality and the Transplant Effect,” European Economic Review, 47: 165–203.CrossRefGoogle Scholar
Bezes, Philippe and Le Lidec, Patrick, 2016. “The Politics of Organization. The New Divisions of Labor in State Bureaucracies,” Revue française de science politique, 66 (3): 407–433.CrossRefGoogle Scholar
Boltanski, Luc, 2011. On Critique (Cambridge, Polity Press).Google Scholar
Boltanski, Luc and Chiapello, Eve, 2005. The New Spirit of Capitalism (London, Verso).CrossRefGoogle Scholar
Boltanski, Luc and Claverie, Elisabeth, 2007. “Le monde social en tant que scène d’un procès,” in Boltanski, L., Claverie, E., Offenstadt, N. and Van Damme, S., eds, Affaires, scandales et grandes causes (Paris, Stock: 395–452).Google Scholar
Boltanski, Luc and Thévenot, Laurent, 2006. On Justification: The Economies of Worth (Princeton, Princeton University Press).CrossRefGoogle Scholar
Bourdieu, Pierre, 1986. “The Force of Law: Toward a Sociology of the Juridical Field,” Hastings Law Journal, 38 (5): 805–853.Google Scholar
Bourdieu, Pierre, 2018. “Rethinking the State: Genesis and Structure of the Bureaucratic Field,” in Steinmetz, G., ed., State/Culture (Ithaca, Cornell University Press: 53–75).Google Scholar
Braun, Benjamin, 2020. “Central Banking and the Infrastructural Power of Finance: The Case of ECB Support for Repo and Securitization Markets,” Socio-Economic Review, 18 (2): 395–418.CrossRefGoogle Scholar
Britton-Purdy, Jedediah, Grewal, David Singh and Kapczynski, Amy, 2017. “Law and Political Economy: Towards a Manifesto” [https://lpeproject.org/blog/law-and-political-economy-toward-a-manifesto/].Google Scholar
Bruner, Christopher M., and Abdelal, Rawi, 2005. “To Judge Leviathan: Sovereign Credit Ratings, National Law, and the World Economy,” Journal of Public Policy, 25 (2): 191–217.CrossRefGoogle Scholar
Carruthers, Bruce, 2013. “Diverging Derivatives: Law, Governance and Modern Financial Markets,” Journal of Comparative Economics, 41: 386–400.CrossRefGoogle Scholar
Carruthers, Bruce, 2020. “Law, Governance, and Finance: Introduction to the Theory and Society special issue,” Theory and Society, 49:151–164.CrossRefGoogle Scholar
Chiapello, Ève, 2005. “Les normes comptables comme institution du capitalisme. Une analyse du passage aux normes IFRS en Europe à partir de 2005,” Sociologie du travail, 47 (3): 362–382.CrossRefGoogle Scholar
Chiapello, Ève, 2017. “Financialization of Public Policies,” Mondes en developpement, 2: 23–40.CrossRefGoogle Scholar
Commons, John R., 1924. The Legal Foundations of Capitalism (New York, Mac-Millan).Google Scholar
Coslovsky, Salo, Pires, Roberto and Silbey, Susan S., 2011. “The Pragmatic Politics of Regulatory Enforcement,” in Levi‐Faur, D., ed., Handbook on the Politics of Regulation (Cheltenham, Edward Elgar: 322–334).Google Scholar
Coutu, Michel and Kirat, Thierry, 2011. “John R. Commons and Max Weber: The Foundations of an Economic Sociology of Law,” Journal of Law and Society, 38 (4): 469–495.CrossRefGoogle Scholar
De Goede, Marieke, 2004. “Repoliticizing Financial Risk,” Economy and Society, 33 (2): 197–217.CrossRefGoogle Scholar
De Goede, Marieke, 2005. Virtue, Fortune and Faith: A Genealogy of Finance (Minneapolis, University of Minnesota Press).Google Scholar
Deakin, Simon, David, Gindis, Hodgson, Geoffrey M., Huang, Kainan and Pistor, Katharina, 2017. “Legal Institutionalism: Capitalism and the Constitutive Role of Law,” Journal of Comparative Economics, 45 (1): 188–200.CrossRefGoogle Scholar
Desmond, Matthew, 2016. Evicted. Poverty and Profit in the American City (New York, Crown Publishers).Google Scholar
Dewey, Matías, Woll, Cornelia and Ronconi, Lucas, 2021, “The Political Economy of Law Enforcement,” MaxPo Discussion Paper, 21/1.Google Scholar
Dezalay, Yves, 1990. “The Big Bang and The Law: The Internationalization and Restructuration of The Legal Field,” Theory, Culture and Society, 7: 279–293.CrossRefGoogle Scholar
Dezalay, Yves and Garth, Bryant, 1996. Dealing in Virtue: International Commercial Arbitration and the Construction of a Transnational Legal Order (Chicago, University of Chicago Press).Google Scholar
Dobry, Michel, [1986] 2009. Sociologie des crises politiques. La dynamique des mobilisations multisectorielles (Paris, Presses de Science Po).CrossRefGoogle Scholar
Edelman, Lauren B., 2016. Working Law: Courts, Corporations, and Symbolic Civil Rights (Chicago, University of Chicago Press).Google Scholar
Edelman Lauren, B. and Stryker, Robin, 2005. “A Sociological Approach to Law and the Economy,” in Smelser, N. J. and Swedberg, R., eds, Handbook of Economic Sociology (Princeton, Princeton University Press: 527–551).Google Scholar
Elias, Norbert, 1972. “Processes of State Formation and Nation Building,” in Transactions of the Seventh World Congress of Sociology, 3 (Sofia, International Sociological Association: 274–284).Google Scholar
Ewick, Patricia and Silbey, Susan, 1998. The Commonplace of Law. Stories of Everyday Life (Chicago, University of Chicago Press).CrossRefGoogle Scholar
Felstiner, William L. F., Abel, Richard L. and Sarat, Austin, 1980-1981. “The Emergence and Transformation of Disputes: Naming, Blaming, Claiming…,” Law and Society Review, 15 (3/4): 631–654.CrossRefGoogle Scholar
François, Pierre and Lemercier, Claire, 2021. Sociologie historique du capitalisme (Paris, La Découverte).Google Scholar
Gabor, Daniela, 2021. “The Wall Street Consensus,” Development and Change, 52: 429–459.CrossRefGoogle Scholar
Gabor, Daniela and Ban, Cornel, 2016. “Banking on Bonds: The New Links Between States and Markets,” JCMS: Journal of Common Market Studies, 54 (3): 617–635.Google Scholar
Galanter, Marc, 1974. “Why the ‘Haves’ Come Out Ahead: Speculations on the Limits of Legal Change,” Law and Society Review, 33 (4): 95–160.CrossRefGoogle Scholar
Garrett Brandon, L., 2016. “The Rise of Bank Prosecutions,” The Yale Law Journal Forum, 126: 33–56.Google Scholar
Gayon, Vincent and Lemoine, Benjamin, 2018. “Constructivisme,” in Hay, C. and Smith, A., Dictionnaire d’économie politique: Capitalisme, institutions, pouvoir (Paris, Presses de Sciences Po: 97–110).CrossRefGoogle Scholar
Genet, Jean-Philippe, 2014. “À propos de Pierre Bourdieu et de la genèse de l’État moderne,” Actes de la recherche en sciences sociales, 118: 98–105.CrossRefGoogle Scholar
Gilbert, Paul, 2020. “Speculating on Sovereignty: ‘Money Mining’ and Corporate Foreign Policy at the Extractive Industry Frontier,” Economy and Society, 49 (1): 16–44.CrossRefGoogle Scholar
Godechot, Olivier, 2013. “Concurrence et coopération sur les marchés financiers. Les apports des études sociales de la finance,” in Steiner, P. and Vatin, F., eds, Traité de sociologie économique (Paris, Puf : 653–670).Google Scholar
Godechot, Olivier, 2001. Les Traders. Essai de sociologie des marchés financiers (Paris, La Découverte).Google Scholar
Gonce, R. A., 1971. “John R. Commons’s Legal Economic Theory,” Journal of Economic Issues, 5 (3): 80–95.CrossRefGoogle Scholar
Halliday, Terence C. and Carruthers, Bruce G., 2009. Bankrupt: Global Lawmaking and Systemic Financial Crisis (Stanford, Stanford University Press).Google Scholar
Harris, Angela and Varellas, James J., 2020. “Law and Political Economy in a Time of Accelerating Crises,” Journal of Law and Political Economy, 1 (1) [https://escholarship.org/uc/item/8p8284sh].CrossRefGoogle Scholar
Helleiner, Eric, 2008. “The Mystery of the Missing Sovereign Debt Restructuring Mechanism,” Contributions to Political Economy, 27: 91–113.CrossRefGoogle Scholar
Ho, Karen, 2009. Liquidated: An Ethnography of Wall Street (Durham, Duke University Press).Google Scholar
Israël, Liora, 2013. “Legalise it! The Rising Place of Law in French Sociology,” International Journal of Law in Context, 9: 262–278.CrossRefGoogle Scholar
John Taylor, S., 2018. The Rise of Investor-State Arbitration: Politics, Law, And Unintended Consequences (Oxford, Oxford University Press).CrossRefGoogle Scholar
Krippner Greta, R., 2011. Capitalizing on Crisis: The Political Origins of the Rise of Finance (Cambridge, Harvard University Press).Google Scholar
La Porta, Rafael, Lopez‐de‐Silanes, Florencio, Shleifer, Andrei and Vishny, Robert W., 1998. “Law and Finance,” Journal of Political Economy, 106: 1113–1155.CrossRefGoogle Scholar
Latour, Bruno, 2005. Reassembling the Social: An Introduction to Actor-Network Theory (Oxford, Oxford University Press).Google Scholar
Latour, Bruno, 2009. The Making of Law: An Ethnography of the Conseil d’Etat (Cambridge, Polity Press).Google Scholar
Lazonick, William and O’Sullivan, Mary, 2000. “Maximizing Shareholder Value: a New Ideology for Corporate Governance,” Economy and Society, 29 (1): 13–35.CrossRefGoogle Scholar
Lemieux, Cyril, 2011. “Le crépuscule des champs. Limites d’un concept ou disparition d’une réalité historique,” in Bourdieu, théoricien de la pratique (Paris, EHESS).Google Scholar
Lemoine, Benjamin, 2016. L’Ordre de la dette: Enquête sur les infortunes de l’État et la prospérité du marché (Paris, La découverte).CrossRefGoogle Scholar
Lemoine, Benjamin, 2018. “Democracy and the Political Representation of Investors,” in Chambost, I., Lenglet, M., and Tadjeddine, Y., eds, The Making of Finance: Perspectives from the Social Sciences Routledge (London, Routledge).Google Scholar
Lemoine, Benjamin and Deforge, Quentin, 2021. “The Global South Debt Revolution That Wasn’t: UNCTAD from Technocractic Activism to Technical Assistance,” in Penet, P. and Zendejas, J., eds, Sovereign Debt Diplomacies (Oxford, Oxford University Press: 232–256).Google Scholar
Lemoine, Benjamin and Deforge, Quentin, 2018. “Faillite d’État et fragilité juridique. L’Argentine face à l’ordre financier international,” Actes de la recherche en sciences sociales, (1), 38–63.Google Scholar
Livne, Roi and Yonay, Yuval P., 2016. “Performing Neoliberal Governmentality: An Ethnography of Financialized Sovereign Debt Management Practices,” Socio-Economic Review, 14 (2): 339–362.CrossRefGoogle Scholar
MacKenzie, Donald, 2005. “Opening the Black Boxes of Global Finance,” Review of International Political Economy, 12 (4): 555–576.CrossRefGoogle Scholar
MacKenzie, Donald, 2006. An Engine, Not a Camera: How Financial Models Shape Markets (Cambridge, MIT Press).CrossRefGoogle Scholar
Martin, Randy, 2002. Financialization of Daily Life (Philadelphia, Temple University Press).Google Scholar
Merlin, Julien, Laurent, Brice and Gunzburger, Yann, 2021 “Promise Engineering: Investment and its Conflicting Anticipations in the French Mining Revival,” Economy and Society, 1–28.Google Scholar
Miller, Richard and Sarat, Austin, 1980-1981. “Grievances, Claims, and Disputes: Assessing the Adversary Culture,” Law & Society Review, 15 (3/4): 525–566.CrossRefGoogle Scholar
Mitchell, Timothy, 2002, Rule of Experts: Egypt, Techno-Politics, Modernity (Berkeley, University of California Press).CrossRefGoogle Scholar
Montagne, Sabine, 2005. “Pouvoir financier vs pouvoir salarial. Les fonds de pension américains: contribution du droit à la légitimité financière,” Annales. Histoire, Sciences Sociales, 60 (6): 1299–1325.CrossRefGoogle Scholar
Montagne, Sabine, 2007. “In Trusts We Trust: Pension Funds between Social Protection and Financial Speculation,” European Economic Sociology Newsletter, 8 (3): 26–32.Google Scholar
Montagne, Sabine, 2013. “Investing Prudently: How Financialization Puts a Legal Standard to Use,” Sociologie du travail, 55 (1): e48–e66.CrossRefGoogle Scholar
Montagne, Sabine and Ortiz, Horacio, 2013. “Sociologie de l’agence financière: enjeux et perspectives,” Sociétés contemporaines, 92: 7–33.CrossRefGoogle Scholar
Morgan, Kimberly and Orloff, Ann S., eds, 2017. The Many Hands of the State (Cambridge, Cambridge University Press).CrossRefGoogle Scholar
Muniesa, Fabian, 2021. “Financial Value, Anthropological Critique, and the Operations of the Law,” working paper prepared for Isabel Feichtner and Geoff Gordon, eds, Constitutions of Value, forthcoming.Google Scholar
Pistor, Katharina, 2009. “Rethinking the ‘Law and Finance’ Paradigm,” Brigham Young University Law Review, 1: 1647–1670.Google Scholar
Pistor, Katharina, 2013a. “Law In Finance,” Journal of Comparative Economics, 41 (2): 311–314.CrossRefGoogle Scholar
Pistor, Katharina, 2013b. “A Legal Theory of Finance,” Journal of Comparative Economics, 41 (2): 315–330.CrossRefGoogle Scholar
Pistor, Katharina, 2019. The Code of Capital: How the Law Creates Wealth and Inequality (Princeton, Princeton University Press).Google Scholar
Potts, Shaina, 2016. “Reterritorializing Economic Governance: Contracts, Space, and Law in Transborder Economic Geographies,” Economy and Space, 48 (3): 523–539.Google Scholar
Pound, Rosco, 1910. “Law in Books and Law in Action,” American Law Review, 44: 12–36.Google Scholar
Quinn, Sarah, 2019. American Bonds: How Credit Markets Shaped a Nation (Princeton, Princeton University Press).Google Scholar
Ravelli, Quentin, 2021. “Debt Struggles: How Financial Markets Gave Birth to a Social Movement,” Socio-Economic Review, 19 (2): 441–468.CrossRefGoogle Scholar
Riles, Annelise, 2010. “Collateral Expertise: Legal Knowledge in the Global Financial Markets,” Current Anthropology, 51 (6): 795–818.CrossRefGoogle Scholar
Riles, Annelise, 2011. Collateral Knowledge: Legal Reasoning in the Global Financial Markets (Chicago, Chicago University Press).CrossRefGoogle Scholar
Samman, Amin, Coombs, Nathan and Cameron, Angus, 2015. “For a Post-Disciplinary Study of Finance and Society,” Finance and Society, 1 (1): 1–5.CrossRefGoogle Scholar
Sarat, Austin, 1990. “The Law is All Over: Power, Resistance, and the Legal Consciousness of the Welfare Poor,” Yale Journal of Law and the Humanities, 2 (2): 343–379.Google Scholar
Sarat, Austin and Clarke, Conor, 2008. “Beyond Discretion: Prosecution, the Logic of Sovereignty and The Limits of Law,” Law & Social Enquiry, 33 (2): 387–416.CrossRefGoogle Scholar
Sassen, Saskia, 2014. Expulsions: Brutality and Complexity in the Global Economy (Cambridge, Harvard University Press).CrossRefGoogle Scholar
Sewell William, H. Jr., 2008. “The Temporalities of Capitalism,” Socio-Economic Review, 6: 517–537.CrossRefGoogle Scholar
Sinclair Timothy, J., 2014. The New Masters of Capital (Ithaca, Cornell University Press).Google Scholar
Spire, Alexis, 2011. “La domestication de l’impôt par les classes dominantes,” Actes de la recherche en sciences sociales, 190: 58–71.CrossRefGoogle Scholar
Stryker, Robin, 2003. “Mind the Gap: Law, Institutional Analysis and Socioeconomics,” Socio-Economic Review, 1 (3): 335–367.CrossRefGoogle Scholar
Sutherland, Edwin, 1983. White Collar Crime: the Uncut Version (New Haven, Yale University Press).Google Scholar
Swedberg, Richard, 2003. “The Case for an Economic Sociology of Law,” Theory and Society, 32 (1): 1–37.CrossRefGoogle Scholar
Thomas, Yan, 2011. Les Opérations du droit (Paris, EHESS).Google Scholar
Tomlins, Christopher and Comaroff, John, 2011. “‘Law As…’: Theory and Practice in Legal History,” U.C. Irvine Law Review, 1 (3): 1039–1079.Google Scholar
Van der Zwan, Natascha, 2014. “Making Sense of Financialization,” Socio-Economic Review, 12( 1): 99–129.CrossRefGoogle Scholar
Vauchez, Antoine, 2018. “Statesmen of Independence: The International Fabric of Europe’s Way of Political Legitimacy,” Contemporary European History, 27 (2): 183–201.CrossRefGoogle Scholar
Vauchez, Antoine and France, Pierre, 2021. The Neoliberal Republic: Corporate Lawyers, Statecraft, and the Making of Public-Private France (Ithaca, Cornell University Press).Google Scholar
Wansleben, Leon, 2020. “Formal Institution Building in Financialized Capitalism: The Case of Repo Markets,” Theory and Society, 49 (2): 187–213.CrossRefGoogle Scholar
Weber, Max, [1921] 1978. Economy and Society (Berkeley, University of California Press).Google Scholar
Wellhausen, Rachel L., 2017. “Sovereignty, Law, and Finance: Evidence from American Indian Reservations,” Quarterly Journal of Political Science, 12 (4): 405–436.CrossRefGoogle Scholar
Winner, Langdon, 1993. “Upon Opening the Black Box and Finding it Empty: Social Constructivism and the Philosophy of Technology,” Science, Technology, & Human Values, 18 (3): 362–378.CrossRefGoogle Scholar
World Bank, 2001. “Thorsten Beck, Asli Demirguii-Kunt and Ross Levine,” Law, Politics, and Finance, Policy research working paper, The World Bank Development Research Group Finance, April.Google Scholar