Abstract

The sovereign debt market represents one of the most active and highly regarded fields of financial transaction. Nevertheless, the trading of public debt securities is no natural phenomenon. It is the fruit of a long social and political process. We have chosen the history of France’s public finances as the subject of our empirical investigation because France represents a unique example of marketization of state finances outside the capitalist mode of production. We posit that the birth of this market system can be traced back to the introduction of the paulette tax in 1604, a reform which modified the rules governing the granting, valuation and transmission of public offices, creating the necessary conditions for a market on which these titles could be exchanged freely. This paper is based on archival research and information gathered from the French National Archives and the Bibliothèque Nationale de France (BNF). The concept of socio-technical devices proposed by Çalışkan and Callon provides a theoretical reference framework to the extent that it allows us to define the nature of the market relations established. However, the case of the office market brings to the fore the need to distinguish between marketization and the notion of market agencement. The market for offices came about less from economic theories or practices than from political and social ones. The office market followed the sovereignty imperatives of the state.

摘要

主权债务市场代表了最活跃和最受重视的金融交易领域之一。尽管如此，公共债务证券的交易并非自然现象。它是长期社会和政治进程的结果。我们选择法国公共财政的历史作为我们实证研究的主题，因为法国代表了资本主义生产方式之外的国家财政市场化的独特例子。我们假设这个市场体系的诞生可以追溯到paulette1604 年的税收改革，修改了管理公职授予、估价和转让的规则，为这些职位可以自由交换的市场创造了必要条件。本文基于从法国国家档案馆和法国国家图书馆收集的档案研究和信息(BNF)。Çalışkan 和 Callon 提出的社会技术设备的概念提供了一个理论参考框架，它允许我们定义已建立的市场关系的性质。然而，写字楼市场的案例凸显了区分市场化和市场代理概念的必要性。办公室市场更多地来自政治和社会理论，而不是经济理论或实践。写字楼市场遵循国家的主权要求。