Financiers’ imagined communities remain nationally bound despite global market rhetoric.

Evidence

These important studies show that traders yield their shared obligations and interdependencies as a form of social insurance, which—­ together with an unrestricted access to the necessary material resources—­ enables them to place speculative wagers on the volatility of securities prices. It is beyond the scope of my argument to catalog the various forms of social bonds that are engendered through speculative activities (and which the above scholars have dexterously unpacked). However, of particular importance for my discussion of speculative communities is the insight that financiers’ sense of collectivity and sociality does not necessarily accord with the cosmopolitan narratives of placeless and globalizing finance. As we have already seen, finance’s speculative imagination has been infused with a nationalist sentiment since the early days of Chicago’s first futures market, when a highly “patriotic spirit” was marshaled into the transformation of speculative trading (Lambert 2010, 65). Today, financiers around the world remain nationally bound when forming their imagined collectivities, in spite of global markets’ cosmopolitan façade. And financialization’s most recent tides have far from diffused such nationalist orientations. — Aris Komporozos-Athanasiou, Speculative Communities, 428

However, of particular importance for my discussion of speculative communities is the insight that financiers’ sense of collectivity and sociality does not necessarily accord with the cosmopolitan narratives of placeless and globalizing finance. As we have already seen, finance’s speculative imagination has been infused with a nationalist sentiment since the early days of Chicago’s first futures market, when a highly “patriotic spirit” was marshaled into the transformation of speculative trading (Lambert 2010, 65). Today, financiers around the world remain nationally bound when forming their imagined collectivities, in spite of global markets’ cosmopolitan façade. And financialization’s most recent tides have far from diffused such nationalist orientations. — Aris Komporozos-Athanasiou, Speculative Communities, 428

Categorization

• XREF: Directly connects to the reader’s core interest in speculation reshaping social imagination — the ‘imagined collective’ of national finance parallels the reader’s inquiry into how speculation constructs community. — connects to: Finance shapes modern societies’ collective myths and imagined communities, not just economies — Aris Komporozos-Athanasiou, Speculative Communities: Living With…, 19; Platforms remain bound to capitalist competition and profitability despite anti-capitalist rhetoric — Nick Srnicek, Platform Capitalism, 93
• SEED: Angle: ‘The patriotic futures market’ — how nationalist sentiment has been wired into modern speculation since Chicago’s first futures market, challenging the placeless-global-finance narrative.
• corroborated: 2 independent passages support this claim — Aris Komporozos-Athanasiou, Speculative Communities: Living with…, 428

Broader Connections

• Finance shapes modern societies’ collective myths and imagined communities, not just economies #complicates (0.78) — Aris Komporozos-Athanasiou, Speculative Communities, 19
• Platforms remain bound to capitalist competition and profitability despite anti-capitalist rhetoric #complicates (0.73) — Nick Srnicek, Platform Capitalism, 93