Long a dominant figure in the French human sciences, Pierre Bourdieu has become internationally influential in the fields of sociology, anthropology, and cultural studies. A major figure in the development of "practice" as an organizing concept in social research, Bourdieu has emerged as the foremost advocate of reflexive social science; his work combines an astonishing range of empirical work with highly sophisticated theory.

American reception of his works, however, has lacked a full understanding of their place within the broad context of French human science. His individual works separated by distinct boundaries between social science fields in American academia, Bourdieu's cohesive thought has come to this country in fragments.

Bourdieu: Critical Perspectives provides a unified and balanced appraisal of Bourdieu's varied works by both proponents and skeptics. The essays are written from the varied viewpoints of cultural anthropology, ethnomethodology and other varieties of sociology, existential and Wittgensteinian philosophies, linguistics, media studies, and feminism. They work around three main themes: Bourdieu's effort to transcend gaps between practical knowledge and universal structures, his central concept of "reflexivity," and the relations between social structure, systems of classification, and language.

Ultimately, the contributors raise a variety of crucial theoretical questions and address problems that are important not only to understanding Bourdieu but to advancing empirical work of the kind he has pioneered. In an essay written especially for this volume, Bourdieu describes his own "mode of intellectual production" and the reasons he sees for its common misunderstanding.

The contributors are Hubert Dreyfus, Paul Rabinow, Charles Taylor, Aaron Cicourel, James Collins, William Hanks, Beate Krais, Nicholas Garnham, Scott Lash, Roger Brubaker, and Loic Wacquant, and the editors.

The market for financial derivatives is far and away the largest and most powerful market in the world, and it is growing exponentially. In 1970 the yearly valuation of financial derivatives was only a few million dollars. By 1980 the sum had swollen to nearly one hundred million dollars. By 1990 it had climbed to almost one hundred billion dollars, and in 2000 it approached one hundred trillion. Created and sustained by a small number of European and American banks, corporations, and hedge funds, the derivatives market has an enormous impact on the economies of nations—particularly poorer nations—because it controls the price of money. Derivatives bought and sold by means of computer keystrokes in London and New York affect the price of food, clothing, and housing in Johannesburg, Kuala Lumpur, and Buenos Aires. Arguing that social theorists concerned with globalization must familiarize themselves with the mechanisms of a world economy based on the rapid circulation of capital, Edward LiPuma and Benjamin Lee offer a concise introduction to financial derivatives.

LiPuma and Lee explain how derivatives are essentially wagers—often on the fluctuations of national currencies—based on models that aggregate and price risk. They describe how these financial instruments are changing the face of capitalism, undermining the power of nations and perpetrating a new and less visible form of domination on postcolonial societies. As they ask: How does one know about, let alone demonstrate against, an unlisted, virtual, offshore corporation that operates in an unregulated electronic space using a secret proprietary trading strategy to buy and sell arcane financial instruments? LiPuma and Lee provide a necessary look at the obscure but consequential role of financial derivatives in the global economy.

In The Social Life of Financial Derivatives Edward LiPuma theorizes the profound social dimensions of derivatives markets and the processes, rituals, and belief systems that drive them. In response to the 2008 financial crisis and drawing on his experience trading derivatives, LiPuma outlines how they function as complex devices that organize speculative capital as well as the ways derivative-driven capitalism not only produces the conditions for its own existence, but also penetrates the fabric of everyday life. Framing finance as a form of social life and highlighting the intrinsically social character of financial derivatives, LiPuma deepens our understanding of derivatives so that we may someday use them to serve the public well-being.