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“And what if the choice had never been between Market and State organizations, between liberals and socialists, but instead between those who believe in the miracles of a pre-established harmony and those who refuse to ‘believe in miracles’? Could we not re-read, retrospectively, everything that has happened to us in the past two hundred years and that we have far too hastily summarized under the name of ‘#capitalism’?” (Latour and Lépinay 2009: 5) https://economicsociology.org/2019/07/19/neither-market-nor-state/Why have historians ceded authority to economists as reliable and competent policy advisors? Proponents of alternatives must rise up. They are not in short supply; they are even in high demand. #History is an illuminating projector towards the future. Understanding #politicaleconomy, which is essentially a historical science, is a powerful tool to confront neoliberal politics backed by neoliberal #economics. https://economicsociology.org/2014/10/09/how-historians-have-ceded-authority-to-economists-as-reliable-and-competent-policy-advisors/ #neoliberalism #policyTags
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Tag Archives: performativity
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
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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
‘Performativity thesis’: Accounting’s mediating role in bringing theoretical statements from economics into life
An interesting “The ‘performativity thesis’ and its critics: Towards a relational ontology of management accounting” by Ed Vosselman, explores accounting’s mediating role in bringing theoretical statements from economics into life. The paper addresses the so-called performativity thesis that claims that economic … Continue reading
Posted in Papers
Tagged accounting, economics, performativity, social studies of finance
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Why the Federal Reserve Failed to See the 2008 Financial Crisis: The Role of “Macroeconomics” as a Sensemaking and Cultural Frame
In this very interesting and enlightening paper by Neil Fligstein, Jonah Stuart Brundage & Michael Schultz (University of California, Berkeley), they tackle one of the puzzles about the crisis of 2008: why the regulators were so slow to recognize the … Continue reading
