Contemporary articles citing Granovetter M (1985) Am J Sociol

economic, action, market, economy, uncertainty, empirical, capital, particular, approach, actors

Schrank, Andrew & Josh Whitford. 2011. "The Anatomy of Network Failure." Sociological Theory. 29:3 151-177. Link

This article develops and defends a theory of ``network failure'' analogous to more familiar theories of organizational and market failure already prevalent in the literature on economic governance. It theorizes those failures not as the simple absence of network governance, but rather as a situation in which transactional conditions for network desirability obtain but network governance is impeded either by ignorance or opportunism, or by a combination of the two. It depicts network failures as continuous rather than discrete outcomes, shows that they have more than one cause, and pays particular attention to two undertheorized-if not undiscovered-types of network failure (i.e., involution and contested collaboration). It thereby contributes to the development of sociology's toolkit for theorizing networks that are ``neither market nor hierarchy.''

Aneesh, A.. 2009. "Global Labor: Algocratic Modes of Organization." Sociological Theory. 27:4 347-370.

This study investigates a practice that allows workers based in India to work online on projects for corporations in the United States, representing a new mode of labor integration. In the absence of direct bureaucratic control across continents, the question arises how this rapidly growing labor practice is organized. The riddle of organizational governance is solved through an analysis of software programming schemes, which are presented as the key to organizing globally dispersed labor through data servers. This labor integration through programming code is distinguished from two other systems of organization-bureaucracy and the market-while bringing out the salient features of each system in terms of its ruling principle: bureaucracy (legal-rational), the market (price), and algocracy (programming or algorithm). The logic of algocratic systems is explored methodically to analyze global work.

Molm, Linda, David Schaefer & Jessica Collett. 2009. "Fragile and Resilient Trust: Risk and Uncertainty in Negotiated and Reciprocal Exchange." Sociological Theory. 27:1 1-32. Link

Both experimental and ethnographic studies show that reciprocal exchanges (in which actors unilaterally provide benefits to each other without formal agreements) produce stronger trust than negotiated exchanges secured by binding agreements. We develop the theoretical role of risk and uncertainty as causal mechanisms that potentially explain these results, and then test their effects in two laboratory experiments that vary risk and uncertainty within negotiated and reciprocal forms of exchange. We increase risk in negotiated exchanges by making agreements nonbinding and decrease uncertainty in reciprocal exchanges by having actors communicate their intentions. Our findings support three main theoretical conclusions. (1) Increasing risk in negotiated exchange produces levels of trust comparable to those in reciprocal exchange only if the partner's trustworthiness is near-absolute. (2) Decreasing uncertainty in reciprocal exchange either increases or decreases trust, depending on network structure. (3) Even when reciprocal and negotiated exchanges produce comparable levels of trust, their trust differs in kind, with reciprocal exchange partners developing trust that is more resilient and affect-based.

Reed, Isaac. 2008. "Justifying Sociological Knowledge: From Realism to Interpretation." Sociological Theory. 26:2 101-129. Link

In the context of calls for ``postpositivist'' sociology, realism has emerged as a powerful and compelling epistemology for social science. In transferring and transforming scientific realism-a philosophy of natural science-into a justificatory discourse for social science, realism splits into two parts: a strict, highly naturalistic realism and a reflexive, more mediated, and critical realism. Both forms of realism, however, suffer from conceptual ambiguities, omissions, and elisions that make them an inappropriate epistemology for social science. Examination of these problems in detail reveals how a different perspective-centered on the interpretation of meaning-could provide a better justification for social inquiry, and in particular a better understanding of sociological theory and the construction of sociological explanations.

Sites, W. 2000. "Primitive Globalization? State and Locale in Neoliberal Global Engagement." Sociological Theory. 18:1 121-144. Link

Drawing widely from sociology, political science, and urban studies, this article introduces the term ``primitive globalization'' in order to address issues of state and governance for localities that globalize within a national context. Suggested by the discusssion of primitive accumulation in Marx's Capital, this conceptual frame highlights the ways in which states neither circumvented by globalization nor resistant to it may facilitate neoliberal globalization by ``separating'' or disembedding social actors from conditions that otherwise impede short-term economic activity. This conception, which is considered primarily in relation to the United States, positions the state as both facilitator and victim of globalization, draws attention to state fragmentation and national politics, and places the role of the national state in the local state at the center of unstable linkages. It is suggested that under these conditions the national/local state may be caught between the roles of government and governance; for this reason, as well as others, contemporary globalization remains transitional.

Wood, RL. 1999. "Religious Culture and Political Action." Sociological Theory. 17:3 307-332. Link

Recent work by political sociologists and social movement theorists extend our understanding of how religious institutions contribute to expanding democracy, but nearly all analyze religious institutions as institutions; few focus directly on what religion qua religion might contribute. This article strives to illuminate the impact of religious culture per se, extending recent work on religion and democratic life by a small group of social movement scholars trained also in the sociology of religion. In examining religion's democratic impact, an explicitly cultural analysis inspired by the new approach to political culture developed by historical sociologists and cultural analysts of democracy is used to show the power of this approach and to provide a fuller theoretical account of how cultural dynamics shape political outcomes. The article examines religious institutions as generators of religious culture, presents a theoretical model of how religious cultural elements are incorporated into social movements and so shape their internal political cultures, and discusses how this in turn shapes their impact in the public realm. This model is then applied to a key site of democratic struggle: four efforts to promote social justice among low-income urban residents of the United States, including the most widespread such effort-faith-based community organizing.

DAHMS, HF. 1995. "From Creative Action to the Social Rationalization of the Economy - Schumpeter,joseph,a. Social-theory." Sociological Theory. 13:1 1-13. Link

Schumpeter's writings on the transition from capitalism to socialism, on innovative entrepreneurship, on business cycles, and on the modern corporation have attracted muck attention among social scientists. Although Schumpeter's theoretical and sociological writings resemble the works of Marx, Durkheim and Weber in that they further our understanding of the rise and nature of modern society, his contribution to social theory has yet to be assessed systematically, Arguing that Schumpeter's perspective, if understood in social theoretical terms, provides a promising starting point for the sociological analysis of the changing relationship between economy and society, I concentrate on two elements of his work that are of value to theoretical sociology today: the distinction between creative action and rational action that is fundamental to his theory of the entrepreneur and his thesis that the success of the capitalist system leads to its demise.

LIN, N. 1995. "Local Market Socialism - Local Corporatism in Action in Rural China." Theory and Society. 24:3 301-354. Link

Beckert, J. 1996. "What Is Sociological About Economic Sociology? Uncertainty and the Embeddedness of Economic Action." Theory and Society. 25:6 803-840. Link

McLean, PD & JF Padgett. 1997. "Was Florence a Perfectly Competitive Market? Transactional Evidence From the Renaissance." Theory and Society. 26:2-3 209-244. Link

Woolcock, M. 1998. "Social Capital and Economic Development: Toward a Theoretical Synthesis and Policy Framework." Theory and Society. 27:2 151-208. Link

Healy, K. 1999. "The Emergence of Hiv in the Us Blood Supply: Organizations, Obligations, and the Management of Uncertainty." Theory and Society. 28:4 529-558. Link

Nee, V & Y Cao. 1999. "Path Dependent Societal Transformation: Stratification in Hybrid Mixed Economies." Theory and Society. 28:6 799-834. Link

King, LP. 2001. "Making Markets: a Comparative Study of Postcommunist Managerial Strategies in Central Europe." Theory and Society. 30:4 493-538. Link

Krippner, GR. 2001. "The Elusive Market: Embeddedness and the Paradigm of Economic Sociology." Theory and Society. 30:6 775-810. Link

Whitford, J. 2002. "Pragmatism and the Untenable Dualism of Means and Ends: Why Rational Choice Theory Does Not Deserve Paradigmatic Privilege." Theory and Society. 31:3 325-363. Link

Breslau, D. 2003. "Economics Invents the Economy: Mathematics, Statistics, and Models in the Work of Irving Fisher and Wesley Mitchell." Theory and Society. 32:3 379-411. Link

The ``embeddedness'' of economic life in social relations has become a productive analytical principle and the basis of a penetrating critique of economic orthodoxy. But this critique raises another important, social and historical question, of how the economy became ``disembedded'' in the first place - how the multitude of transactions designated (somewhat arbitrarily) as economic were abstracted from the rest of social life and reconstituted as an object, the economy, which behaves according to its own logic. This article investigates the social sources of some innovations in economic thought that contributed to the emergence of the economy, particularly statistical indicators and mechanical models. By examining the redefinitions of the object of economic research developed by Irving Fisher and Wesley Mitchell in the 1890s and the first decades of the twentieth century, I argue that the abstraction of the economy from the remainder of social life was a strategy linked to the position of these innovators within the field of economics, conceived as a social structure. Possessing a specialized scientific cultural capital, but lacking upper class background, contacts, and dispositions that characterized the founders of academic economics, Fisher and Mitchell elaborated new definitions of their discipline's object of study, and a new type of economic expertise.

Svendsen, GLH & GT Svendsen. 2003. "On the Wealth of Nations: Bourdieuconomics and Social Capital." Theory and Society. 32:5-6 607-631. Link

Why are some countries richer than others? We suggest in the line of political economy theory that traditional production factors cannot explain the observed differences. Rather, differences in the quality of formal institutions are crucial to economic wealth. However, this type of political economy theory accentuating the role of formal institutions cannot stand on its own. This implies a socio-economic approach in the study where we supplement the formal institutional thesis with Bourdieu's idea of material and non-material forms of capital. Such new socio-economics - which might be termed a ``Bourdieuconomics'' - implies the usage of a capital theory that, methodologically, operates with material and non-material forms of capital at the same level. Here, we stress the particular importance of a non-material form of capital, namely social capital, which facilitates informal human exchange, thereby ``lubricating'' civic society and the voluntary provision of collective goods such as trust and predictable behavior. In this way, social capital reduces transaction costs in society, thereby enhancing economic growth and the creation of differences in the wealth of nations. Future research should therefore be directed towards analyses of a new and formerly disregarded production factor, social capital, within a new field of socio-economics, namely ``Bourdieuconomics.''

Barman, E & A Guseva. 2005. "What a Weberian Approach to Interests Can Contribute to Economic Sociology." Theory and Society. 34:1 93-103. Link

This review essay addresses Richard Swedberg's recent attempt to redefine the field of economic sociology. Grounding his position in Max Weber's work, Swedberg advocates a type of economic sociology that not only focuses on social relations but also considers culture and interests, arguing that it is interests that drive action but that they are shaped by culture and enacted through social relations. We conclude our analysis with a consideration of the practical and empirical implications of this new approach for the study of economic life.

Emirbayer, Mustafa & Victoria Johnson. 2008. "Bourdieu and Organizational Analysis." Theory and Society. 37:1 1-44. Link

Despite some promising steps in the right direction, organizational analysis has yet to exploit fully the theoretical and empirical possibilities inherent in the writings of Pierre Bourdieu. While certain concepts associated with his thought, such as field and capital, are already widely known in the organizational literature, the specific ways in which these terms are being used provide ample evidence that the full significance of his relational mode of thought has yet to be sufficiently apprehended. Moreover, the almost complete inattention to habitus, the third of Bourdieu's major concepts, without which the concepts of field and capital (at least as he deployed them) make no sense, further attests to the misappropriation of his ideas and to the lack of appreciation of their potential usefulness. It is our aim in this paper, by contrast, to set forth a more informed and comprehensive account of what a relational - and, in particular, a Bourdieu-inspired - agenda for organizational research might look like. Accordingly, we examine the implications of his theoretical framework for interorganizational relations, as well as for organizations themselves analyzed as fields. The primary advantage of such an approach, we argue, is the central place accorded therein to the social conditions under which inter- and intraorganizational power relations are produced, reproduced, and contested.

Steiner, Philippe. 2009. "Who Is Right About the Modern Economy: Polanyi, Zelizer, or Both?." Theory and Society. 38:1 97-110. Link

Zelizer's work may be read as an attack on the central Polanyian thesis: that the market system threatens social life by the undue prominence it lends the economy in the organization of modern society. The recent publication of Viviana Zelizer's The Purchase of Intimacy (2005a) is therefore an excellent opportunity to review the general trend of her work Zelizer 1979, 1985, 1994, and contrast her leading ideas to the central thesis that gives Polanyi's work its particular flavor: the danger encapsulated in the use of modern money and the functioning of the market system.

Wang, Junmin. 2009. "Global-market Building as State Building: China's Entry Into the Wto and Market Reforms of China's Tobacco Industry." Theory and Society. 38:2 165-194. Link

This article analyzes how China's increasing engagement in the global market induced significant institution-building in China's tobacco industry and enabled a power shift from the local authorities to the central authority in controlling this market. During this process of ``getting onto the international track,'' the central government reorganized the industrial tobacco systemand broke up the ``monopolies'' set up by local governments in order to enhance the competitive capacities of China's tobacco industry in the global market. Given such a concrete institutional change in China's tobacco industry, I propose the theory of `` global-market building as state building'' to explain the interactions among the global market, the nation-states, and the domestic market-building projects. I suggest that nation-states strategically seek to engage themselves in the global market and that, under certain circumstances by taking advantage of their global market engagement, the nation-states can enhance their abilities to govern the domestic market.

Beckert, Jens. 2009. "The Social Order of Markets." Theory and Society. 38:3 245-269. Link

In this article I develop a proposal for the theoretical vantage point of the sociology of markets, focusing on the problem of the social order of markets. The initial premise is that markets are highly demanding arenas of social interaction, which can only operate if three inevitable coordination problems are resolved. I define these coordination problems as the value problem, the problem of competition and the cooperation problem. I argue that these problems can only be resolved based on stable reciprocal expectations on the part of market actors, which have their basis in the socio-structural, institutional and cultural embedding of markets. The sociology of markets aims to investigate how market action is structured by these macrostructures and to examine their dynamic processes of change. While the focus of economic sociology has been primarily on the stability of markets and the reproduction of firms, the conceptualization developed here brings change and profit motives more forcefully into the analysis. It also differs from the focus of the new economic sociology on the supply side of markets, by emphasizing the role of demand for the order of markets, especially in the discussion of the problems of valuation and cooperation.

Bandelj, Nina. 2009. "Emotions in Economic Action and Interaction." Theory and Society. 38:4 347-366. Link

How do emotions influence economic action? Current literature recognizes the importance of emotions for economy because they either help individuals perform economic roles through emotion management or enhancement of emotional intelligence, or because they aid rationality through their influence on preference formation. All these strands of research investigate the link between emotions and economy from an atomistic/individualistic perspective. I argue for a different approach, one that adopts a relational perspective, focuses on emotional embeddedness and examines how emotions matter in economic interactions. Emotional embeddedness research starts with a premise that emotions result from and are influenced by interactions between economic actors during the economic process where emotional currents and their visceral and physical manifestations come to the fore. This increases the uncertainty in economic transactions and complicates the given means-ends logic of rational economic decision making, yielding economic action principles different from utility maximization. I propose two types of such creative economic action in this paper: improvisation and situational adaptation. Improvisation characterizes situations where ends (goals) and means are unclear at the beginning of a transaction process and get articulated as a consequence of emotional embeddedness experienced during a process. Situational adaptation characterizes situations in which means or ends of action change because of interaction-induced emotions that prompt actors to choose new means/ends. The article concludes with a call for empirical research that explicates further the influence of emotions not merely for rational economic action but also creative economic interactions.

Hilgers, Tina. 2011. "Clientelism and Conceptual Stretching: Differentiating Among Concepts and Among Analytical Levels." Theory and Society. 40:5 567-588. Link

The concept of clientelism has lost descriptive power. It has become indistinguishable from neighboring concepts and is applied across analytical levels. Using Gerring's (Polity 31:357-393, 1999) characterization of a ``good'' concept, I establish the core attributes of clientelism, which, in addition to being an interest-maximizing exchange, involves longevity, diffuseness, face-to-face contact, and inequality. Using secondary sources and fieldwork data, I differentiate clientelism from concepts such as vote-buying and corruption and determine its analytical position at the microsociological level. I argue that labeling sociopolitical systems as clientelistic is awkward since, operating at a higher analytical level, they have characteristics beyond microsociological clientelism and they affect the political nature of the clientelism they contain. I conclude that differentiating clientelism by confining it to the microsociological level will aid theory-building.

Gemici, Kurtulus. 2012. "Uncertainty, the Problem of Order, and Markets: a Critique of Beckert, Theory and Society, May 2009." Theory and Society. 41:1 107-118. Link

Jens Beckert's 2009 article on the constitution and dynamics of markets is a bold attempt to define a novel research agenda. Deeming uncertainty and coordination essential for the constitution of social action in markets, Beckert proposes a framework centered on the resolution of three coordination problems: valuation, cooperation, and competition. The empirical study of these three coordination problems has the potential to contribute considerably to the sociological analysis of markets. However, the assertion that such a theoretical vantage point can explain the constitution and dynamics of markets is not compelling because it (1) conflates social interaction with social structures, (2) fails to address power relations, institutions, and macro-level structures, and (3) neglects the historically contingent and socially contested nature of markets themselves. The present article shows that these three pitfalls are the result of starting from the problem of order and building upon uncertainty as the basis of action in markets, lending the suggested framework a methodologically individualist bent. Therefore, Beckert's suggested framework is in danger of mystifying the very power relations, institutions, and macro-level structures that are at the heart of the constitution and dynamics of markets.

Beckert, Jens. 2013. "Imagined Futures: Fictional Expectations in the Economy." Theory and Society. 42:3 219-240. Link

Starting from the assumption that decision situations in economic contexts are characterized by fundamental uncertainty, this article argues that the decision-making of intentionally rational actors is anchored in fictions. ``Fictionality'' in economic action is the inhabitation in the mind of an imagined future state of the world and the beliefs in causal mechanisms leading to this future state. Actors are motivated in their actions by the imagined future and organize their activities based on these mental representations. Since these representations are not confined to empirical reality, fictional expectations are also a source of creativity in the economy. Fictionality opens up a way to an understanding of the microfoundations of the dynamics of the economy. The article develops the notion of fictional expectations. It discusses the role of fictional expectations for the dynamics of the economy and addresses the question of how fictional expectations motivate action. The last part relates the notion of fiction to calculation and social macrostructures, especially institutions and cultural frames. The conclusion hints at the research program developing from the concept of fictional expectations.