Tag Archives: embeddedness

The economy derives its meaning only from its uneconomic purpose

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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What is Political Economy? It is Essentially a Historical Science

In December 1867 a German positivist philosopher and economist Eugen Dührings published a critical review of Karl Marx’s Capital. Dühring, inter alia, disapproved the Marxist labour theory of value and asserted, based on his own concept of “ethics of sympathy”, that a dichotomy between … Continue reading

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Fiscal embeddedness: taxation policy as an institutional tool of state-building

Following Joseph Schumpeter’s assertion that “the public finance is one of the best starting points for an investigation of society, especially, though not exclusively, of its political life”, I find that the multidisciplinary study of the sources, practices and consequences of … Continue reading

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Community Capitalism in China: the State, the Market, and Collectivism

“Planning and market forces are not the essential difference between socialism and capitalism. A planned economy is not the definition of socialism, because there is planning under capitalism; the market economy happens under socialism, too. Planning and market forces are … Continue reading

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What is Economic Sociology?

What is Economic Sociology? What is embeddedness? How are markets made and where do markets come from? How do politics, networks and culture matter? What are the institutions of political economy? and How does capitalism differ among countries? Well, our community is built to tackle these fundamental and … Continue reading

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The collapse of Ireland’s Celtic Tiger: an incredible story of corporatism, neoliberalism and globalization run amok

In 2008 Ireland experienced one of the most dramatic economic crises of any economy in the world. It remains at the heart of the international crisis, sitting uneasily between the US and European economies. Not long ago, however, Ireland was … Continue reading

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Religion, “free trade” and faithful globalization: producing a sacred vision of the economy

Religious groups are nor just active on economic issues. Religious leaders and groups can play a crucial role in economic and political life through their discourse; such discourse is a central way that they produce the sacred in the economic … Continue reading

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Erich Fromm: Why have we subordinate the economic machine?

Erich Fromm: “Only if man masters society and subordinates the economic machine to the purposes of human happiness, and only if he actively participates in the social process, can he overcome what now drives him into despair–his aloneness and his … Continue reading

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The Power of ‎Market‬ ‪‎Fundamentalism‬: Karl ‪Polanyi‬’s Critique — a must-read for every economic ‪sociologist‬ and political economist

As the eminent social scientist Karl Polanyi has stultified and debunked the erroneous ideas of economic determinism and market fundamentalism, Fred Block and Margaret Somers greatly contributed to the intellectual endeavor to manifest the ontological axiom of mutual embeddedness of State-Economy-Society … Continue reading

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Why do people play lottery in groups? It’s more about reproducing social ties, than profit maximization

Sharing lottery tickets with co-workers or friends may create agency problems related to opportunism in addition to the fact that playing the lottery in general is tantamount to buying an asset with negative expected value. So why do people form a … Continue reading

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