What is economic sociology

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What is economic sociology?
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Sociology

• Economic sociology one sub field
• Economic action a central aspect of social action
  - economy system of distribution of resources
• Hence social inquality, modes of production,
  consumption... all vital parts
• Difficulties of differentiation

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• A field forgotten after the classics or after
  Parsons?
• A revitalised field since the mid 1980s
  structure vs. Agency Granovetter

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Economics economic sociology

• (over socialised sociology) under socialised
  economics
• Homo economicus atomised, individualised,
  perfect information, free range of possibilities
• Sociology information interpreted based on
  cognitive schemata or frames, action according to
  cultural scrips and constrained by structures and
  institutions .

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Sociological critique of economics

• Undersocialised
• Blind to social context, conventions, power
  relations, networks, frames, culture,
  rationalities
• Theoretically too abstract, mathematical and
  deductive.

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Differences between economics and sociology

• Abstract
• Based on matematical models
• Deductive
• Generalising
• Forecasting

• Empirical
• Based on theory
• Inductive
• Describing particular cases, often unwilling to
  generalise
• Reconstructing

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Differences...

• Individual, independent actors
• Rational, narrow defined confines of
  self-interest
• Actions determined by needs and the allocation of
  goods

• Colletive actors, socially embedded
• Rationalities, dependent on coventions etc.
• Actions determined in part by needs and the
  allocation of goods but also on culture and power

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Differences...

• Economy seperated from society

• Economy part of and embedded in society

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Please also read Castells, Manuel (2002) The
Network Society. Oxford Blackwell. p 77-162 1)
04.04.06 What is economic sociology? Smelser,
Neil J., Swedberg, Richard (1994) 'The
Sociological Perspective on the Economy', pp.
3-26 in N. J. Smelser and R. Swedberg (Eds.) The
Handbook of Economic Sociology. Princeton
Princeton University Press. ISBN 0-691-04485-6
Dobbin, Frank (2004) The New Economic Sociology.
Princeton Princeton University Press. p.
1-48 0-691-04906-8 2) 11.04.06 Money Gilbert, E.
(2005). "Common cents situating money in time
and place." Economy and Society 34(3) 357-388.
ISSN 0308-5147 Zelizer, V.A ( 1993) Making
multiple monies. I R. Swedberg (red.)
Explorations in Economic Sociology. New York
Russel Sage pp. 193-212. ISBN 0871548402
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3) 18.04.06 Markets (and networks) Fligstein,
Neil, (2004) The Architecture of Markets.
Princeton Princeton University Press p. 3-23,
223-237 ISBN 0-691-00522-2 Granovetter, Mark
(1985) 'Economic action, Social Structure, and
Embeddedness'. American Journal of Sociology,
91(3) 481-510. 4) 25.04.06 Markets and
networks White, Harrison C. 2002 Markets from
Networks. Princeton Princeton University Press.
p. 1-39 0-691-12038-2 (388 pages in
total) Podolny, Joel M. (2001) 'Networks as the
Pipes and Prisms of the Market'. American Journal
of Sociology, 107(1) 33-60. Darr, Asaf (2003)
Gifting Practices and Interorganizational
Relations Constructing Obligation Networks in
the Electronics Sector. Sociological Forum,
2003, 18, 1, Mar, 31-51
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5) 02.05.06 Performativity and Actor-Network
Theory Callon, Michel. 1998. The Laws of the
Market. Oxford Blackwell. pp. 1-57 ISBN
0-631-20608-6 MacKenzie, Donald (2004) 'The big,
bad wolf and the rational markets portfolio
insurance, the 1987 crash and the performativity
of economics'. Economy and Society, 33(3)
303-334. 6) 09.05.06 Economy, culture and 'new'
capitalism Amin, Ash, Thrift, Nigel (Eds.)
(2004) The Blackwell Cultural Economy Reader.
Oxford Blackwell.s .xi-xxx. 0-631-23428-4 Lazzara
to, M.,1996. Immaterial Labor. In Virno, P. and
Hardt, M. (red.), Radical Thought in Italy.
(Minneapolis University of Minnesota Press), pp.
132-146. ISBN 0-8166-2553-0 Dimaggio (1994)
Culture and Economy. im N. J. Smelser and R.
Swedberg (Eds.) The Handbook of Economic
Sociology. Princeton Princeton University Press.
ISBN 0-691-04485-6
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7) 16.05.06 Financial markets Cetina, Karin
Knorr, Bruegger, Urs (2002) 'Global
microstructures The virtuel societies of
financial markets'. The American Journal of
Sociology, 107(4) 905-950. Beunza, Daniel,
Stark, David (2004) 'Tools of the trade The
socio-technology of arbitrage in a Wall Street
trading room'. Industrial and Corporate Change,
13(2) 369-400.