Markets manifest a third embeddedness type beyond relational and structural forms

Evidence

Since Granovetter’s influential work (1985), embeddedness has been used to make sense of the social organization of the economy (see, e.g., Swedberg 1997, p. 162; Carruthers and Uzzi 2000, p. 487); research has focused on relational embeddedness—that is, the embeddedness of economic action in social networks and relationships—and structural embeddedness—that is, the interdependence of market exchanges and cultural, political, and social background institutions (Barber 1995; Portes 1995, p. 6). The intersubjectivity that we identified suggests a third type of social organization, defined by the interiorized characteristics of markets as they are performed in practice. — Karin Knorr Cetina & Urs Bruegger, Global Microstructures, 101

Categorization

• DEFINE: Crisp distinction among relational, structural, and a newly proposed interiorized form of embeddedness in markets.
• XREF: Core node for the reader’s project of mapping financialization literature; ties Granovetter to Knorr Cetina. This is the definitional anchor the rest of the book builds on. — connects to: Economic transactions are governed by their embeddedness in social networks — TOMASZ OLEJNICZAK, Development of Trust in Low-Trust…, 17

Related

• Markets combine distinct forms of coordination beyond network embeddedness, including reflexive temporal coordination. (similarity 0.86)
• Economic transactions are governed by their embeddedness in social networks (similarity 0.85)
• Global markets are assembled through microsocial patterns of relatedness and coordination (similarity 0.81)
• Markets operate as processual social systems shaped by trader practice, knowledge, and globality (similarity 0.80)
• Financial markets show the most intricate response-presence-based global integration (similarity 0.79)

Broader Connections

• Economic transactions are governed by their embeddedness in social networks #qualifies (0.85) — TOMASZ OLEJNICZAK, Development of Trust in Low-Trust…, 17