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Tag Archives: economics
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
Posted in Books, Oleg Komlik
Tagged Economic Sociology, economics, markets, performativity
2 Comments
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
Posted in Books, Community members posts
Tagged economics, Eurozone crisis, financial crisis, fiscal policy, ideas, IMF, institutions, policy, Political economy
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Folk economics, economic sociology, and Trump’s campaign
“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
Posted in Papers
Tagged Economic Sociology, economics, knowledge, politics, sociology of knowledge
4 Comments
What is Economics? Read Keynes’ definition
In July 1938, an English economist Roy Harrod sent John Maynard Keynes his lecture “Scope and Method of Economics” which he intended to deliver as a Presidential Address at one of the sections of the British Association. In his reply, after … Continue reading
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
Foucault: Neoliberalism is not laissez-faire, but permanent vigilance, activity, and intervention
The following Michel Foucault’s sharp insights on neoliberalism were presented during his lecture series “The Birth of Biopolitics” at the Collège de France in 1979 — a few months before Thatcher and Reagan took power, but several decades after Walter Lippmann, … Continue reading
Paul Samuelson: Chicago is not so much a place as a state of mind
In 1954, a future Nobel laureate in economic sciences Paul Samuelson published one of his seminal articles “The Pure Theory of Public Expenditure”, which formalized the concept of public goods (which he called “collective consumption goods”) — i.e. goods that … Continue reading
Is Homo Economicus Dead?
by Peter Fleming* In Martin Scorsese’s film The Wolf of Wall Street the narcissistic, egotistical and money hungry investment banker Jordan Belford memorably summed up his attitude to life: “Let me tell you something. There’s no nobility in poverty. I’ve been … Continue reading
Posted in Books, Community members posts
Tagged Chicago school, debt, economics, neoliberalism, work
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The Pricing of Progress and the Origins of GDP
by Eli Cook* In the past few years, roughly half a dozen books have come out examining the meteoric rise and profound impact of Gross Domestic Product (GDP). An economic indicator that measures the money-making capacities of a nation by … Continue reading
Posted in Books, Community members posts
Tagged capitalism, economic history, economics, GDP, valuation
1 Comment
Giddens: We are suffering from ‘cosmopolitan overload’ and a huge task lies before us – to create responsible capitalism
by Labinot Kunushevci* From the editor: The following interview with a distinguished British sociologist and political thinker Lord Anthony Giddens is interesting from various perspectives. The interview is part of the forthcoming book by Labinot Kunushevci featuring his conversations with renowned social scientists. The emphases … Continue reading
Posted in Community members posts
Tagged economics, European Union, globalization, media, modernity, politics, risk society
3 Comments
Neil Smelser: “Economic sociology, intellectually, is one of the strongest fields in sociology”
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
The Art of Central Banking (3) — No working theory of inflation and economists’ instinctual attachment to concepts
Daniel K. Tarullo, a former member of the Board of Governors of the United States Federal Reserve, draws two sharp and sound, yet unsurprising, conclusions from his eight-year (2009-2017) service: “The substantive point is that we do not, at present, have a … Continue reading
Economics to Sociology Phrasebook
In 1990, two economics PhD students at the University of Chicago, Jeffrey A. Smith and Kermit Daniel, got bored hanging out with their fellow tiresome economists and boldly decided to graze in new attractive fields. Sensibly skipping over political scientists and anthropologists, Smith and Daniel … Continue reading
Pierre Bourdieu: Economism is a form of ethnocentrism
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
Posted in Books, Oleg Komlik
Tagged capitalism, Economic Sociology, economics, economism, Pierre Bourdieu
3 Comments
Theodor Adorno on the division between economics and sociology
In May-July 1968, Theodor W. Adorno, an eminent philosopher, sociologist and one of the founders of the Frankfurt School of Critical Theory, gave his last lecture series which were published in 2000 as Introduction to Sociology. In these accessible and lucid … Continue reading
Posted in Books, Oleg Komlik
Tagged academia, economics, Frankfurt school, Political economy, sociology
1 Comment
