On Becoming an Exchange: Translating Michel Callon into a Political Economy of Communication

Abstract

Financial technology and information are more than economic stimuli and commodities, and hence political economists ought to look beyond their discipline to understand the multi-faceted nature of information and technology. Using a case study of trading technologies of Nasdaq stocks prior to the dot-com boom, this paper argues that Michel Callon's writings lend insight to political economists. Three key terms of Callon (Actor-Network Theory; framing: metrology and calculation; and performative economics) are applied to analyse Nasdaq. We suggest how Callon's key terms help understand the dialectics of critical theories. However, Callon's dismissal of capitalism as a macro structure requires political economists' critical appraisal.