Global time-zone-spread markets fix dates to Greenwich mean time
Evidence
A further indication of globality is the announcement of the Greenwich mean time (GMT) in line 1 (see Zerubiavel [1982, pp. 12–13], for the interesting historical origin of GMT). Since these markets spread across all time zones, time is fixed to a single place to assure global identification of the correct transaction date. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 109
Categorization
- QUESTION: Zerubavel’s historical account of why GMT was adopted as the standard for coordinating time-zone-spanning social order is worth chasing — parallels standardization of railway and trade time.
- XREF: connects to: The establishment of Greenwich Mean Time unified global timekeeping practices. — Neil MacGregor, A History of the World in 100 Objects, 1398; Greenwich Mean Time became the standard time reference for global shipping. — Neil MacGregor, A History of the World in 100 Objects, 1398; The telegraph enabled temporal coordination that made standard time zones possible — James W. Carey, Communication as Culture- Essays on…, 857 (+1 more)
Related
- Greenwich Mean Time became the standard time reference for global shipping. (similarity 0.84)
- The establishment of Greenwich Mean Time unified global timekeeping practices. (similarity 0.81)
- The telegraph enabled temporal coordination that made standard time zones possible (similarity 0.81)
- Standard time in the United States is a recent invention from 1883 (similarity 0.80)
Broader Connections
- The establishment of Greenwich Mean Time unified global timekeeping practices.
#corroborates(0.85) — Neil MacGregor, A History of the World in 100 Objects, 1398 - Greenwich Mean Time became the standard time reference for global shipping.
#expands(0.75) — Neil MacGregor, A History of the World in 100 Objects, 1398 - The time-zone grid ignores geography and embodies imperial control
#complicates(0.75) — James W. Carey, Communication as Culture- Essays on…, 850 - The telegraph enabled temporal coordination that made standard time zones possible
#qualifies(0.70) — James W. Carey, Communication as Culture- Essays on…, 857