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Id"possibilities. ,,;;;;", sroups (B ffi:j:f +Hii :? ,,y tn#;$"f} ,lji il:l#l3r31;T[1]f few I Global Emergence 5 GlobalEmergence Emergent Effects and the ,Locai' The social scienceshave wrestled with competing claims that there either are, or are not, properties of the sociul v,iorld that can be reduced to the characteristicsof individuals that make up that world. such debate_ has perhaps generatedmore heat than light and I will not spend too long addlng to that heat. I presume from the discussionof complexity that there are indeed emergent properties at the collectivl levei.

It is also argued that, where there are'srructural holes' in networks, then this allows particular opportunities for developing informational access and control (Burt lgg2). Networks also vary as to whether obligations and reciprocities acrossthe network members are one way or all ways. We should also distinguish between the connections within a network that are purely'social', basedupon face-to-faceconnections,and those that are mediated by various 'material worlds' such as telephones, media, computer networks and so on fWellman 2001).

Daily foreign-exchangedealings are worth sixty times more than the daily value of world exports [Held et al. 1999: 209; the ratio grew fivefold between 1979 and 1995). Such a GF is organizedthrough 'just-in-time 24-hour networks'. It involves calculationsof and bets on, hugely uncertain futures: 'traders are trading in time itself which is to say in the momentary forward fluctuations of price and value. The latter are . . expressionsof the most abstract sort: of money itself and, even more abstractly, of the price of money at some future point in time' (Boden 2000: 189).

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