From U.S.-Mexico border walls to Flint's poisoned pipes, there is a new urgency to the politics of infrastructure. Roads, electricity lines, water pipes, and oil installations promise to distribute the resources necessary for everyday life. Yet an attention to their ongoing processes also reveals how infrastructures are made with fragile and often violent relations among people, materials, and institutions. While infrastructures promise modernity and development, their breakdowns and absences reveal the underbelly of progress, liberal equality, and economic growth. This tension, between aspiration and failure, makes infrastructure a productive location for social theory. Contributing to the everyday lives of infrastructure across four continents, some of the leading anthropologists of infrastructure demonstrate in The Promise of Infrastructure how these more-than-human assemblages made over more-than-human lifetimes offer new opportunities to theorize time, politics, and promise in the contemporary moment. A School for Advanced Research Advanced Seminar Contributors. Nikhil Anand, Hannah Appel, Geoffrey C. Bowker, Dominic Boyer, Akhil Gupta, Penny Harvey, Brian Larkin, Christina Schwenkel, Antina von Schnitzler

From U.S.-Mexico border walls to Flint's poisoned pipes, there is a new urgency to the politics of infrastructure. Roads, electricity lines, water pipes, and oil installations promise to distribute the resources necessary for everyday life. Yet an attention to their ongoing processes also reveals how infrastructures are made with fragile and often violent relations among people, materials, and institutions. While infrastructures promise modernity and development, their breakdowns and absences reveal the underbelly of progress, liberal equality, and economic growth. This tension, between aspiration and failure, makes infrastructure a productive location for social theory. Contributing to the everyday lives of infrastructure across four continents, some of the leading anthropologists of infrastructure demonstrate in The Promise of Infrastructure how these more-than-human assemblages made over more-than-human lifetimes offer new opportunities to theorize time, politics, and promise in the contemporary moment. A School for Advanced Research Advanced Seminar Contributors. Nikhil Anand, Hannah Appel, Geoffrey C. Bowker, Dominic Boyer, Akhil Gupta, Penny Harvey, Brian Larkin, Christina Schwenkel, Antina von Schnitzler

The Licit Life of Capitalism is both an account of a specific capitalist project-U.S. oil companies working off the shores of Equatorial Guinea-and a sweeping theorization of more general forms and processes that facilitate diverse capitalist projects around the world. Hannah Appel draws on extensive fieldwork with managers and rig workers, lawyers and bureaucrats, the expat wives of American oil executives and the Equatoguinean women who work in their homes, to turn conventional critiques of capitalism on their head, arguing that market practices do not merely exacerbate inequality; they are made by it. People and places differentially valued by gender, race, and colonial histories are the terrain on which the rules of capitalist economy are built. Appel shows how the corporate form and the contract, offshore rigs and economic theory are the assemblages of liberalism and race, expertise and gender, technology and domesticity that enable the licit life of capitalism-practices that are legally sanctioned, widely replicated, and ordinary, at the same time as they are messy, contested, and, arguably, indefensible.

"Oil is a fairy tale, and, like every fairy tale, is a bit of a lie."—Ryzard Kapuscinski, Shah of Shahs The scale and reach of the global oil and gas industry, valued at several trillions of dollars, is almost impossible to grasp. Despite its vast technical expertise and scientific sophistication, the industry betrays a startling degree of inexactitude and empirical disagreement about foundational questions of quantity, output, and price. As an industry typified by concentrated economic and political power, its operations are obscured by secrecy and security. Perhaps it is not surprising, then, that the social sciences typically approach oil as a metonym—of modernity, money, geopolitics, violence, corruption, curse, ur-commodity—rather than considering the daily life of the industry itself and of the hydrocarbons around which it is built. Subterranean Estates gathers an interdisciplinary group of scholars and experts to instead provide a critical topography of the hydrocarbon industry, understood not solely as an assemblage of corporate forms but rather as an expansive and porous network of laborers and technologies, representation and expertise, and the ways of life oil and gas produce at points of extraction, production, marketing, consumption, and combustion. By accounting for oil as empirical and experiential, the contributors begin to demystify a commodity too often given almost demiurgic power. Subterranean Estates shifts critical attention away from an exclusive focus on global oil firms toward often overlooked aspects of the industry, including insurance, finance, law, and the role of consultants and community organizations. Based on ethnographic research from around the world (Equatorial Guinea, Nigeria, Oman, the United States, Ecuador, Chad, the United Kingdom, Kazakhstan, Canada, Iran, and Russia), and featuring a photoessay on the lived experiences of those who inhabit a universe populated by oil rigs, pipelines, and gas flares, this innovative volume provides a new perspective on the material, symbolic, cultural, and social meanings of this multidimensional world.

The Licit Life of Capitalism is both an account of a specific capitalist project-U.S. oil companies working off the shores of Equatorial Guinea-and a sweeping theorization of more general forms and processes that facilitate diverse capitalist projects around the world. Hannah Appel draws on extensive fieldwork with managers and rig workers, lawyers and bureaucrats, the expat wives of American oil executives and the Equatoguinean women who work in their homes, to turn conventional critiques of capitalism on their head, arguing that market practices do not merely exacerbate inequality; they are made by it. People and places differentially valued by gender, race, and colonial histories are the terrain on which the rules of capitalist economy are built. Appel shows how the corporate form and the contract, offshore rigs and economic theory are the assemblages of liberalism and race, expertise and gender, technology and domesticity that enable the licit life of capitalism-practices that are legally sanctioned, widely replicated, and ordinary, at the same time as they are messy, contested, and, arguably, indefensible.

"Oil is a fairy tale, and, like every fairy tale, is a bit of a lie."-Ryzard Kapuscinski, Shah of Shahs The scale and reach of the global oil and gas industry, valued at several trillions of dollars, is almost impossible to grasp. Despite its vast technical expertise and scientific sophistication, the industry betrays a startling degree of inexactitude and empirical disagreement about foundational questions of quantity, output, and price. As an industry typified by concentrated economic and political power, its operations are obscured by secrecy and security. Perhaps it is not surprising, then, that the social sciences typically approach oil as a metonym-of modernity, money, geopolitics, violence, corruption, curse, ur-commodity-rather than considering the daily life of the industry itself and of the hydrocarbons around which it is built. Subterranean Estates gathers an interdisciplinary group of scholars and experts to instead provide a critical topography of the hydrocarbon industry, understood not solely as an assemblage of corporate forms but rather as an expansive and porous network of laborers and technologies, representation and expertise, and the ways of life oil and gas produce at points of extraction, production, marketing, consumption, and combustion. By accounting for oil as empirical and experiential, the contributors begin to demystify a commodity too often given almost demiurgic power. Subterranean Estates shifts critical attention away from an exclusive focus on global oil firms toward often overlooked aspects of the industry, including insurance, finance, law, and the role of consultants and community organizations. Based on ethnographic research from around the world (Equatorial Guinea, Nigeria, Oman, the United States, Ecuador, Chad, the United Kingdom, Kazakhstan, Canada, Iran, and Russia), and featuring a photoessay on the lived experiences of those who inhabit a universe populated by oil rigs, pipelines, and gas flares, this innovative volume provides a new perspective on the material, symbolic, cultural, and social meanings of this multidimensional world.

In this book, the complex topic of crypto securities is presented in a compact, understandable and practical manner. In addition to conveying the fundamentals and technical background of the crypto market, a classification in the various areas of supervisory law is made. The focus is on German law, although reference is also made to the European equivalence standards. In order to succeed in a correct classification into European financial market law, both the Liechtenstein law on tokens and VT service providers and the European proposal for a regulation on markets for crypto assets are discussed in detail and compared with the German supervisory regulations on crypto assets. The aim, in addition to creating a basic understanding of how crypto assets work, is to construct a comprehensive overall picture of their regulatory treatment in Germany and to include possible implications of a European push.   The work thus provides guidance to individuals who, for example, wish to invest in cryptocurrencies or start a business related to cryptocurrencies.