Morality and the algorithm

Great post about algorithms, SSF and beyond

socializing finance

In light of recent events in Greece, last week’s post by Emilio Marti seems strangely prescient. Emilio called for more research on the wider societal implications of financial markets: how, he asks, are people ultimately affected by financial markets? How is financial innovation impacting actual investors?

Emilio’s call is part of a broader call for a political turn in SSF. His arguments build on a terrific paper with Andreas Scherer, forthcoming in the Academy of Management Review, as well as numerous comments made in the past by Fligstein, Williams, Roscoe, and others. The AMR piece charges that existing analyses of HFT within the social studies of finance (Beunza and Millo 2014, as well as others) fail to address the problem of social justice. As they see it, sociologists of finance reinforce a technocratic system — different from economists in their sociological interest in stability, but servants to “the system” nevertheless.

Flattering as…

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