Contemporary articles citing Hall P (2001) Varieties Capitalism

market, institutional, development, economic, change, conditions, actors, problem, under, suggests

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.''

Beckert, Jens. 2010. "Institutional Isomorphism Revisited: Convergence and Divergence in Institutional Change." Sociological Theory. 28:2 150-166.

Under the influence of groundbreaking work by John Meyer and Brian Bowen, as well as Paul DiMaggio and Walter Powell, over the last 30 years research in the new sociological institutionalism has focused on processes of isomorphism. I argue that this is a one-sided focus that leaves out many insights from other institutional and macrosociological approaches and does not do justice to actual social change because it overlooks the role played by divergent institutional development. While the suggestion of divergent trends is not new, there have been Jew attempts to integrate divergence into the theoretical premises of the new sociological institutionalism. Based on the typology proposed by DiMaggio and Powell, I show that the mechanisms identified by them as sources of isomorphic change can support processes of divergent change as well. The theoretical challenge is to identify conditions under which these mechanisms push institutional change toward homogenization or divergence.

Beland, D. 2005. "Insecurity, Citizenship, and Globalization: the Multiple Faces of State Protection." Sociological Theory. 23:1 25-41. Link

Adopting a long-term historical perspective, this article examines the growing complexity and the internal tensions of state protection in Western Europe and North America. Beginning with Charles Tilly's theory about state building and organized crime, the discussion follows with a critical analysis of T. H. Marshall's article on citizenship. Arguing that state protection has become far more multifaceted than what Marshall's triadic model suggests, the article shows how this protection frequently transcends the logic of individual rights while increasing the reliance of citizens on the modern state. The last section formulates a critique of the idea formulated by theorists like Manuel Castells that globalization favors a rapid decline of state power. Yet, state protection may not necessarily grow indefinitely, and tax cuts, for example, the ones recently enacted in the United States, could seriously jeopardize a state's capacity to raise revenues and effectively fight older and newer forms of insecurity.

Block, F. 2003. "Karl Polanyi and the Writing of the Great Transformation." Theory and Society. 32:3 275-306. Link

Karl Polanyi's 1944 book, The Great Transformation, has been recognized as central for the field of economic sociology, but it has not been subject to the same theoretical scrutiny as other classic works in the field. This is a particular problem in that there are central tensions and complexities in Polanyi's argument. This article suggests that these tensions can be understood as a consequence of Polanyi's changing theoretical orientation. The basic outline of the book was developed in England in the late 1930s when Polanyi was working within a specific type of Marxist framework. However, as he was writing the book, he developed several new concepts, including fictitious commodities and the embedded economy, that led in new directions. Because circumstances did not give him the time to revise his manuscript, the book is marked by a tension between these different moments in his own theoretical development. The result is that Polanyi glimpses the concept of the always embedded market economy, but he does not name it or elaborate it.

Graefe, P. 2005. "The Contradictory Political Economy of Minority Nationalism." Theory and Society. 34:5-6 519-549. Link

Times have arguably never been better for minority nationalism. The hollowing out of the nation-state has provided spaces for minority nations to assert their identities and seek wider forms of self-rule. Their position is strengthened by the increased salience of development strategies at the regional scale that draw on the cooperation and coordination of economic actors. In this context, minority nationalism can help foster regional economic success by providing increased cohesion and cross-class collaboration. In return, regional economic success promises to strengthen the nation by providing resources to smooth over class divisions. This article lays out this argument, but raises a number of political and economic contradictions that threaten to interfere both with the construction of regional strategies, and with their ability to paper over class divisions within the nation. It concludes with a brief discussion of the Quebec case to show how the promise of a mutually reinforcing relationship between minority nationalism and regional strategies runs up against a series of contradictions in practice.

Krippner, Greta. 2007. "The Making of Us Monetary Policy: Central Bank Transparency and the Neoliberal Dilemma." Theory and Society. 36:6 477-513. Link

This article explores the implications of the Federal Reserve's shift to transparency for recent debates about neoliberalism and neoliberal policyrnaking. I argue that the evolution of US monetary policy represents a specific instance of what I term the ``neoliberal dilemma.'' In the context of generally deteriorating. economic conditions, policymakers are anxious to escape responsibility for economic outcomes, and yet markets require regulation to function in capitalist economies (Polanyi 2001). How policymakers negotiate these contradictory imperatives involves a continual process of institutional innovation in which functions are transferred to markets, but under the close control of the state. Thus, under transparency, Federal Reserve officials discovered innovations in the policy process that enabled ``markets to do the Fed's work for it.'' These innovations enlisted market mechanisms, but did not represent a retreat from the state's active role in managing the economy.

Anderson, Elisabeth. 2008. "Experts, Ideas, and Policy Change: the Russell Sage Foundation and Small Loan Reform, 1909-1941." Theory and Society. 37:3 271-310. Link

Between 1909 and 1941, the Russell Sage Foundation (RSF) was actively involved in crafting and lobbying for policy solutions to the pervasive problem of predatory lending. Using a rich assortment of archival records, I build upon political learning theory by demonstrating how institutional conditions and political pressures - in addition to new knowledge gained through scientific study and practical experience - all contributed to the emergence and development of RSF experts' policy ideas over the course of this 30-year period. In light of these findings, I suggest that policy ideas and political interests are mutually constitutive, and that the notion that ideas must be shown to operate independent of interests in order to ``prove'' that they matter in policymaking is misguided. Furthermore, I discuss the implications of the remarkable success of RSF's policy proposals for current understandings of institutional change. In particular, I argue that the passage of RSF's controversial Uniform Small Loan Law in 34 states suggests that political actors' collective agency can produce significant policy reforms in a context of normal policymaking without the intervention of major destabilizing events.

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.

Chan, Cheris. 2009. "Creating a Market in the Presence of Cultural Resistance: the Case of Life Insurance in China." Theory and Society. 38:3 271-305. Link

This article brings together two different conceptions of culture-a shared meaning system on one hand and a repertoire of strategies on the other-to understand the emergence of a market. Based on ethnographic data, it examines how a Chinese life insurance market is emerging in the presence of incompatible shared values and ideas acting as cultural barriers, and how these cultural barriers shape the formation of the market. The findings reveal a burgeoning Chinese life insurance market despite local cultural logics incompatible with the profit-oriented institutional logic of life insurance. This Chinese market, however, has developed along a different trajectory from what might be expected. It first emerged as a money management, rather than a risk management, market. I argue that the very cultural barriers that compose the local resistance to a new economic practice also necessitate the mobilization of the cultural tool-kit to circumvent this resistance. These dual processes, shared ideas composing the resistance and the cultural tool-kit circumventing the resistance, shape the trajectory and characteristics of an emergent market. I propose a theoretical model specifying the mechanisms through which the two forms of culture interplay to influence the development of the life insurance. I apply this model to extend Zelizer's (1979) insights and discuss how culture matters in forging a new market in the global diffusion of capitalism.

Haydu, Jeffrey. 2010. "Reversals of Fortune: Path Dependency, Problem Solving, and Temporal Cases." Theory and Society. 39:1 25-48. Link

Historical reversals highlight a basic methodological problem: is it possible to treat two successive periods both as independent cases to compare for causal analysis and as parts of a single historical sequence? I argue that one strategy for doing so, using models of path dependency, imposes serious limits on explanation. An alternative model which treats successive periods as contrasting solutions for recurrent problems offers two advantages. First, it more effectively combines analytical comparisons of different periods with narratives of causal sequences spanning two or more periods. Second, it better integrates scholarly accounts of historical reversals with actors' own narratives of the past.