The Embeddedness of Electronic Markets: The Case of Global Capital Markets

Abstract We might expect today’s global financial market to be generally unlike other current and past markets and to approximate, and even enact, key principles of neoclassical market theory. The effort of this chapter is to understand the limits of this electronic, trans jurisdictional, globally interconnected market, and to lay bare its modes of embeddedness and its conditionalities. The argument is that while today’s global capital market is indeed a complex formation markedly different from earlier global financial markets, this does not necessarily mean that it is totally disembedded.