Tag Archives: Economic Sociology

German New Economic Sociology and the Max Planck Institute for the Study of Societies

Posted on March 1, 2019 by

The new much-anticipated discussion paper by John Wilkinson (Federal Rural University of Rio de Janeiro) provides a thoughtful and comprehensive survey of German new economic sociology with a special focus on the contributions of the Max Planck Institute for the Study … Continue reading →

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Did Neoliberalism and Austerity Cause Brexit? Yes.

Posted on August 14, 2018 by

While the Brexit process is underway and UK politicians are tearing themselves apart over this overwhelmingly and multidimensionally complicated  issue, an economics professor from Warwick University Thiemo Fetzer provides ample and comprehensive evidence that the austerity-induced withdrawal of the welfare state brought about by the Conservative-led … Continue reading →

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Economic Sociology, Homo Economicus, and Performativity of Economics

Posted on July 7, 2018 by

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

Posted on May 26, 2018 by

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?

Posted on May 12, 2018 by

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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Folk economics, economic sociology, and Trump’s campaign

Posted on May 2, 2018 by

“When did we beat Japan at anything? They send their cars over by the millions, and what do we do? When was the last time you saw a Chevrolet in Tokyo? It doesn’t exist, folks. They beat us all the … Continue reading →

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

Posted on March 24, 2018 by

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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Joseph Schumpeter: Social structures are coins that do not readily melt

Posted on January 11, 2018 by

Economic sociologists an political economists will surely discern the grace and insight in the following Joseph Schumpeter’s quote (from his magnum opus Capitalism, Socialism and Democracy), which beautifully describes the essence of institutions, their socio-historical embeddedness, as well as their persistence in front of … Continue reading →

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Top 10 Most-read Economic Sociology and Political Economy Posts of 2017

Posted on December 27, 2017 by

As 2017 (already) comes to an end, I rounded up the top 10 most-read posts of the year on Economic Sociology and Political Economy community blog. Besides being interesting, enlightening and thought-provoking, it turned out that these posts reflect to a large extent the complex realities … Continue reading →

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Neil Smelser: “Economic sociology, intellectually, is one of the strongest fields in sociology”

Posted on October 7, 2017 by

A brilliant and influential sociologist Neil Smelser passed away on Monday at the age of 87, leaving behind an extraordinary intellectual legacy. Among many contributions during his prolific academic career, unparalleled in its diversity and breadth (in social change, social movements, sociology … Continue reading →

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The economy derives its meaning only from its uneconomic purpose

Posted on October 3, 2017 by

A German-Swiss philosopher Karl Jaspers: “We must realize that neither the economy nor any of its forms are absolutes. The economy is not the standard for all that we are and can be. It is indispensable – as water is to … Continue reading →

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Pierre Bourdieu: Economism is a form of ethnocentrism

Posted on July 19, 2017 by

Economic Sociology of Pierre Bourdieu is very rich and brilliantly enlightening, as well as non-univocal, and theoretically and intellectually multifaceted. Reflecting on his great contribution to the field, which he preferred to call “Economic Anthropology”, his classic The Logic of Practice (1990; open … Continue reading →

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Framing Value of Things and Making Things Valuable

Posted on April 4, 2017 by

My experiences at Asian floating markets have included constant conversations between me and merchants, and thereafter between me and myself, such as: “How much is it?”  — “How much do you want to give me?”, he replies. “How much was … Continue reading →

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The Political Economy and Economic Sociology of Brexit

Posted on February 18, 2017 by

In the beginning, it is said, was Brexit. “Brexit is a revolution”, it is said from the right and by the left. Revolution, though, is a Janus-faced concept that “evokes dialectically linked oppositions: light and darkness; rupture and continuity; liberation and oppression; … Continue reading →

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Joseph Schumpeter’s definition of Economic Sociology

Posted on December 25, 2016 by

In his monumental History of Economic Analysis, Joseph Schumpeter identified four fundamental fields of economic analysis: economic history, statistics, economic theory and economic sociology. According to Schumpeter, mastery in these four fields is “what distinguishes the ‘scientific’ economist from all the other people … Continue reading →

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