The great transformation of embeddedness

"I argue that in its adaptation from Karl Polanyi's The Great Transformation, the concept of embeddedness has itself undergone a great transformation. In the process, significant meanings of the concept have vanished, while others have been added. First I explore the different meanings the...

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Bibliographic Details
Main Author: Beckert, Jens
Institution:ETUI-European Trade Union Institute
Format: TEXT
Language:English
Published: Köln 2007
MPIfG
Subjects:
Online Access:https://www.labourline.org/KENTIKA-19291739124910199119-The-great-transformation-of-em.htm
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author Beckert, Jens
author_facet Beckert, Jens
collection Library items
description "I argue that in its adaptation from Karl Polanyi's The Great Transformation, the concept of embeddedness has itself undergone a great transformation. In the process, significant meanings of the concept have vanished, while others have been added. First I explore the different meanings the concept of embeddedness has achieved in the new economic sociology. Then I argue that it is not the embeddedness of economic action that should constitute the vantage point of economic sociology, but rather three coordination problems that actors face in economic exchange: the valuation of goods, competition and the problem of cooperation deriving from the social risks of exchange. I show that by proceeding from these coordination problems economic sociology, economic anthropology and economic history can find common research questions which allow them to enter into dialogue with each other more systematically. In the next section I focus on the social-reformist inclinations of Polanyi's use of the notion of embeddedness and thereby highlight a challenge posed in The Great Transformation that was largely not taken up by economic sociologists. Finally, I discuss limitations for developing a macro theory of the economy that result from making embeddedness the core concept of economic sociology. "
format TEXT
id 19291739124910199119_8fd061870857464f8040918e345d7d1e
institution ETUI-European Trade Union Institute
is_hierarchy_id 19291739124910199119_8fd061870857464f8040918e345d7d1e
is_hierarchy_title The great transformation of embeddedness
language English
physical 25 p.
Paper
Digital
publishDate 2007
publisher Köln
MPIfG
spellingShingle Beckert, Jens
new economy
social theory
sociology
The great transformation of embeddedness
thumbnail https://www.labourline.org/Image_prev.jpg?Archive=117396893557
title The great transformation of embeddedness
topic new economy
social theory
sociology
url https://www.labourline.org/KENTIKA-19291739124910199119-The-great-transformation-of-em.htm