Re-Imagining Economic Sociology

Description

The purpose of this book is to explore new developments in the field of economic sociology. It contains cutting-edge theoretical discussions by some of the world's leading economic sociologists, with chapters on topics such as the economic convention, relational sociology, economic identity, economy and law, economic networks and institutions. The book is distinctive in a number of ways. First, it focuses on theoretical contributions, by pulling together and extending what the contributors believe to be the most important theoretical innovations within their own particular areas of the field. Second, there are contributions by leading economic sociologists from both the US and Europe, which gives the book both wider scope and appeal, while also creating the opportunity for some interesting dialogue between distinct theoretical traditions. The book will be of interest to researchers, Ph.D. students, and advanced students on both side of the Atlantic, and indispensible in advanced economic sociology courses. Cover Re-Imagining Economic Sociology Copyright Contents List of Figures List of Tables List of Contributors Introduction Classical Economic Sociology The Formation of New Economic Sociology Theoretical Contributions to Economic Sociology The Network Approach The Cultural Approach The Organization Approach The Performativity Approach Boundaries, Challenges, and Future Development Outline of the Book References 1: Theorizing in Economic Sociology From Theory to Theorizing Step 1: Observing Step 2: Naming the Phenomenon, Developing Concepts, Perhaps Constructing a Typology Step 3: Using Analogies, Metaphors, and Patterns Step 4: Coming Up with an Explanation Preparing for Theorizing Concluding Remarks APPENDIX 1 Some Concepts and Theoriesin Economic Sociology References Part I: Creating Economic Futures 2: Re-imagining Capitalist Dynamics: Fictional Expectations and the Openness of Economic Futures The Temporal Order of Capitalism Economic Detraditionalization Institutional Preconditions for an Open Economic Future Imagined Futures Expectations Fictional Expectations Four Constituents of Capitalist Dynamics Money and Credit Investment Innovation Consumption Conclusion References 3: Utopianism and the Future of Money Introduction Ruskin´s Labor Money Gesell´s Rotting Money Proudhon´s Bank Mutualism: Clifford Hugh Douglas Edwin Riegel and Monetary Freedom Fisher´s 100 Percent Money Bitcoin Ecological Money The Euro Conclusion References 4: What is a Financial Market? Global Markets as Media-Institutional Forms Financial Market Action: Not Simply Exchange Real Financial Market Action: Contingent Promises, Position Taking, and Trading The Architecture of Financial Markets Who Are the Conversationalists? Traders and Trading Floors, and How Markets and Firms Intersect Attentional Integration and the Scrolling and Transiting Market Conclusion References Part II: Consolidating Economic Structures 5: Economy and Law: Old Paradigms and New Markets Over-the-counter Derivatives To Regulate Or Not To Regulate Private law and OTC derivatives Legal Harmonization Conclusion References 6: Economic Institutions from Networks Introduction The Network Foundation of Economic Institutions The Relationship Between Informal Norms and Formal Rules Emergence of Economic Institutions: the Rise of Capitalism in China Networks and Institutions The Making of Capitalist Institutions The Underlying Social Exchange Mechanism Personalized Exchange The Role of Reputation Norm Compliance and Conflict Resolution Conclusion References 7: The Fourth Dimension of Power: The Social Construction of Interest in the New Economic Sociology Power Without Meaning: Post-war Economic Sociology The Four Dimensions of Power Marx on Coercion and Ideology Pluralism and Elite Theories Resource Dependency Bank Control Theory The Revival of Economic Sociology Constructionism: Bringing Meaning Back In The Integration of the Paradigms Structural Power and Objectivation The Rise of Experts The Fourth Dimension of Power: Theorization Conclusion References 8: Certifying the World: Power Infrastructures and Practices in Economies of Conventional Forms Resources to Analyze Economies of Conventional Forms: Theories of Conventions and Economic Sociology French Convention School in the Context of Economic Sociology: an Introductory Comparison Convention of Coordination, Network Tie, Institution Human Agency and Relations With the Material World Action Cognition, Information (E)valuation Power Conventions in practice and situation: challenging the collective/individual and symbolic/material oppositions Individual Behavioral Imitation and Salient Meeting Points: David Lewis Symbolic Forms as Idealist and Delirious Collective Representations: Emile Durkheim The Letter of the Convention Put to the Reality Test in Situation: the Pragmatic Turn Valuable Regimes of Engagement Valued in Organizations, Markets, and Standards Valuation Through Organizations and Markets: Quality Conventions Reducing Orders of Worth Valuation Through the Certification of Use-Values: Standards Reducing Regimes of Engagement Profit and Power from the Transmutation of Valuations Profit and Exploitation Out of Differentials of Valuation Forms Governing Through Certifying-Standard-Value: Which Political Economy? References Part III: Enacting Economic Relations 9: Thinking about Social Relations in Economy as Relational Work Introduction Relationality as Networks Relationality as Relational Work Overcoming Uncertainty Caused by Lack of Information and Trust in Economic Relations Dealing with Power Asymmetry in Economic Relations Surmounting Cultural and Moral Incommensurability in Economic Relations Summary Contributions to Theorizing in Economic Sociology References 10: Phenomenological Identity Theory in Economic Sociology Introduction Action in Economic Sociology Relation to Existing Identity Approaches Relational Ontology From Ontology to Empirical Identity Becoming and Being Three Types of Identity and Their Interrelations Collective and Unique Identities Preferred Identity and Action To Become To Be Defined Concluding Discussion References 11: The Organizational Gift and Sociological Approaches to Exchange Transplant Surgery and the Organizational Gift Organizational Gift, Gift and Market Exchange Reciprocity and Alternative Forms of Exchange in Modern Economies Polanyi´s Four Types of Economic Integration What ``Reciprocity´´ Means in a Market-System Society Forms of Integration and the Relational Dimensions ofEconomic Integration Conclusion References Concluding Reflection 12 What Kind of Re-Imagining Does Economic Sociology Need? The Organizational Origins of Economic Sociology The Intellectual Structure of Economic Sociology What Barriers and Opportunities Are There to Re-imagining Economic Sociology? Conclusion References Index