Category Archives: Books

The Sociology of Quantification: Seeing like Numbers

Elizabeth Popp Berman and Dan Hirschman have recently published in Contemporary Sociology a worth reading review essay called “The Sociology of Quantification: Where Are We Now?” In this article, which is definitely more than a ‘regular’ review, they do not … Continue reading

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Economic Sociology, Homo Economicus, and Performativity of Economics

It is never too late, nor too early, to reread and contemplate a good theory. For example, to mull over Michel Callon’s programmatic statement about the performativity of economics, presented two decades ago in the introduction to The Laws of the Markets: … Continue reading

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The IMF’s Reconstruction of Economic Orthodoxy since the Crash

by Ben Clift* Analysing how the International Monetary Fund (IMF) contributes to prevailing understandings of sound economic policy reveals how economic orthodoxy is historically contingent, and throws into relief the malleability of economic policy credibility. These indirect IMF attempts to … Continue reading

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Was Karl Polanyi wrong? Land, labor, and private authority in the global economy

by Tim Bartley* Karl Polanyi famously argued that land, labor, and money are “fictitious commodities.” They cannot be fully subjected to the dictates of the market without spurring backlashes that seek to re-embed them in society.  It is easy to … Continue reading

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Who is in Control of Markets: Humans or Financial Models?

by Ekaterina Svetlova* The recent stock market correction raised again the question of who is in control of markets: humans or technology. Nasdaq CEO Adena Friedman said on CNBC that „humans are definitely in charge of the decisions in the market” … Continue reading

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Commercialization and the Far Right: Consuming and Constituting Extremism

by Cynthia Miller-Idriss* Advertisers and marketers have long known that brands and commercial products are deeply intertwined with individuals’ identities. But with few exceptions, mainstream social scientists have been slow to acknowledge that economic objects can have constitutive power for … Continue reading

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Market Forecasting: A Sensitive Practice at the Heart of Neoliberal Capitalism

by Stefan Leins* Since the emergence of modern financial markets, financial analysts have played a critical role in producing visions of “the economy” and its future development. As experts, they analyze market developments and predict future scenarios that enable other financial … Continue reading

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Marketcraft as the New Statecraft

by Steven K. Vogel* What if we thought of marketcraft (market governance) as a core government function comparable to statecraft? And what if we sought to optimize market governance rather than to minimize government intervention? I submit that this simple … Continue reading

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A Critique of the Critique of Finance: Critics of neoliberal capitalism rarely recognize the productive power of speculation

by Martijn Konings*  If there is one theme that unites the various critiques of contemporary finance, it is the emphasis on its speculative character. Financial growth is said to be driven not by the logic of efficient markets, but rather … Continue reading

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Social Media, Authoritarian Capitalism, and Donald Trump

by Christian Fuchs* In the years from 1986 until 1999, the leader of the Austrian Freedom Party Jörg Haider with the help of anti-immigration slogans, politics as entertainment, a juvenile and dynamic habitus, as well as ridicule of opponents led his … Continue reading

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