There is not, of course, a one-to-one relation between policy conclusions and the conclusions of positive economics; if there were, there would be no ...

This article proffers an invitation to neoclassical sociology. This is understood as a Habermasian reconstruction of the fundamental vision of the discipline as conceptualized by classical theorists, particularly Weber. Taking the cases of Eastern and Central Europe as a laboratory, we argue against the idea of a single, homogenizing globalizing logic. Currently and historically what we see instead is a remarkable diversity of capitalist forms and destinations. Neither sociological theories of networks and embeddedness nor economic models of rational action adequately (...) comprehend this diversity. A neoclassical approach enjoins an empirical research agenda comparing capitalisms, and an ironic, historical approach to analysis to inform an immanent critique of capitalist possibilities. (shrink)

A more ethical economic system is now possible, one that rectifies the crisis spots of our current downturn while balancing the injustices of extreme poverty and wealth. Adam Arvidsson and Nicolai Peitersen, a scholar and an entrepreneur, outline the shape such an economy might take, identifying its origins in innovations already existent in our production, valuation, and distribution systems. Much like nineteenth-century entrepreneurs, philosophers, bankers, artisans, and social organizers who planned a course for modern capitalism that was more economically efficient (...) and ethically desirable, we now have a chance to construct new instruments, institutions, and infrastructure to reverse the trajectory of a quickly deteriorating economic environment. Considering a multitude of emerging phenomena, Arvidsson and Peitersen show wealth creation can be the result of a new kind of social production, and the motivation of continuous capital accumulation can exist in tandem with a new desire to maximize our social impact. Arvidsson and Peitersen argue that financial markets could become a central arena in which diverse ethical concerns are integrated into tangible economic valuations. They suggest that such a common standard has already emerged and that this process is linked to the spread of social media, making it possible to capture the sentiment of value to most people. They ultimately recommend how to build upon these developments to initiate a radical democratization of economic systems and the value decisions they generate. (shrink)

A 1999 review of governmentality literature, derived from Foucault, which broke new ground in ethics and politics.

A more ethical economic system is now possible, one that rectifies the crisis spots of our current downturn while balancing the injustices of extreme poverty and wealth. Adam Arvidsson and Nicolai Peitersen, a scholar and an entrepreneur, outline the shape such an economy might take, identifying its origins in innovations already existent in our production, valuation, and distribution systems. Much like nineteenth-century entrepreneurs, philosophers, bankers, artisans, and social organizers who planned a course for modern capitalism that was more economically efficient (...) and ethically desirable, we now have a chance to construct new instruments, institutions, and infrastructure to reverse the trajectory of a quickly deteriorating economic environment. Considering a multitude of emerging phenomena, Arvidsson and Peitersen show wealth creation can be the result of a new kind of social production, and the motivation of continuous capital accumulation can exist in tandem with a new desire to maximize our social impact. Arvidsson and Peitersen argue that financial markets could become a central arena in which diverse ethical concerns are integrated into tangible economic valuations. They suggest that such a common standard has already emerged and that this process is linked to the spread of social media, making it possible to capture the sentiment of value to most people. They ultimately recommend how to build upon these developments to initiate a radical democratization of economic systems and the value decisions they generate. (shrink)

The nature of well-being is one of the most enduring and elusive subjects of human inquiry. Well-Being draws upon the latest scientific research to transform our understanding of this ancient question. With contributions from leading authorities in psychology, social psychology, and neuroscience, this volume presents the definitive account of current scientific efforts to understand human pleasure and pain, contentment and despair. The distinguished contributors to this volume combine a rigorous analysis of human sensations, emotions, and moods with a broad assessment (...) of the many factors, from heredity to nationality, that bear on our well-being. Using the tools of experimental science, the contributors confront the puzzles of human likes and dislikes. Why do we grow accustomed and desensitized to changes in our lives, both good and bad? Does our happiness reflect the circumstances of our lives or is it determined by our temperament and personality? Why do humans acquire tastes for sensations that are initially painful or unpleasant? By examining the roots of our everyday likes and dislikes, the book also sheds light on some of the more extreme examples of attraction and aversion, such as addiction and depression. Among its wide ranging inquiries, Well-Being examines systematic differences in moods and behaviors between genders, explaining why women suffer higher rates of depression and anxiety than men, but are also more inclined to express positive emotions. The book also makes international comparisons, finding that some countries' populations report higher levels of happiness than others. The contributors deploy an array of methods, from the surveys and questionnaires of social science to psychological and physiological experiments, to develop a comprehensive new approach to the study of well-being. They show how the sensory pleasures of the body can tells us something about the higher pleasures of the mind and even how the effectiveness of our immune system can depend upon the health of our social relationships. (shrink)

This article argues that many situations in social life can be analyzed by their requirement for the justification of action. It is in particular in situations of dispute that a need arises to explicate the grounds on which responsibility for errors is distributed and on which new agreement can be reached. Since a plurality of mutually incompatible modes of justification exists, disputes can be understood as disagreements either about whether the accepted rule of justification has not been violated or about (...) which mode of justification to apply at all. The article develops a grammar of such modes of justification, called orders of worth (grandeur), and argues that the human capacity for criticism becomes visible in the daily occurrence of disputes over criteria for justification. At the same time, it is underlined that not all social situations can be interpreted with the help of such a sense of justice, which resides on a notion of equivalence. Regimes of love, of violence or of familiarity are systematically distinct from regimes of justification. (shrink)

Amongst intellectuals and activists, neoliberalism has become a potent signifier for the kind of free-market thinking that has dominated politics for the past three decades. Forever associated with the conviction politics of Ronald Reagan and Margaret Thatcher, the free-market project has since become synonymous with the 'Washington consensus' on international development policy and the phenomenon of corporate globalization, where it has come to mean privatization, deregulation, and the opening up of new markets. But beyond its utility as a protest slogan (...) or buzzword as shorthand for the political-economic Zeitgeist, what do we know about where neoliberalism came from and how it spread? Who are the neoliberals, and why do they studiously avoid the label? Constructions of Neoliberal Reason presents a radical critique of the free-market project, from its origins in the first half of the 20th Century through to the recent global economic crisis, from the utopian dreams of Friedrich von Hayek through the dogmatic theories of the Chicago School to the hope and hubris of Obamanomics. The book traces how neoliberalism went from crank science to common sense in the period between the Great Depression and the age of Obama. Constructions of Neoliberal Reason dramatizes the rise of neoliberalism and its uneven spread as an intellectual, political, and cultural project, combining genealogical analysis with situated case studies of formative moments throughout the world, like New York City's bankruptcy, Hurricane Katrina, and the Wall Street crisis of 2008. The book names and tracks some of neoliberalism's key protagonists, as well as some of the less visible bit-part players. It explores how this adaptive regime of market rule was produced and reproduced, its logics and limits, its faults and its fate. (shrink)

This contribution to economic philosophy considers Marx's pronouncements on the organization of future society, and in this context re-examines the long-lasting debate triggered by Mises's argument that modern industrial production requires a system of spontaneously-formed market prices. In an undogmatic, non-technical treatment, Steele contends that both the Marxian conception of future society and the Misesian argument against its feasibility have frequently been misunderstood. The work scrutinizes the replies to Mises, and explores some of the wider issues raised by the economic (...) calculation debate. (shrink)

Geoffrey Hawthorn has written a substantial conclusion for the second edition of his widely acclaimed critical history of social theory in England, France, Germany and the USA from the eighteenth century onwards. Hawthorn begins with the 'prehistory' of the subject and traces, particularly in the thought of Rousseau, Kant and Hegel, the emergence of certain fundamental distinctions and assumptions whose existence is often overlooked in studies of the traditional 'founding-fathers' of sociology like Marx, Durkheim and Weber.

Around the globe, economists affect markets by saying what markets are doing, what they should do, and what they will do. Increasingly, experimental economists are even designing real-world markets. But, despite these facts, economists are still largely thought of as scientists who merely observe markets from the outside, like astronomers look at the stars. Do Economists Make Markets? boldly challenges this view. It is the first book dedicated to the controversial question of whether economics is performative--of whether, in some cases, (...) economics actually produces the phenomena it analyzes.The book's case studies--including financial derivatives markets, telecommunications-frequency auctions, and individual transferable quotas in fisheries--give substance to the notion of the performativity of economics in an accessible, nontechnical way. Some chapters defend the notion; others attack it vigorously. The book ends with an extended chapter in which Michel Callon, the idea's main formulator, reflects upon the debate and asks what it means to say economics is performative.The book's insights and strong claims about the ways economics is entangled with the markets it studies should interest--and provoke--economic sociologists, economists, and other social scientists.In addition to the editors and Callon, the contributors include Marie-France Garcia-Parpet, Francesco Guala, Emmanuel Didier, Philip Mirowski, Edward Nik-Khah, Petter Holm, Vincent-Antonin Lépinay, and Timothy Mitchell. (shrink)

Ben Fine traces the origins of social capital through the work of Becker, Bourdieu and Coleman and comprehensively reviews the literature across the social sciences. The text is uniquely critical of social capital, explaining how it avoids a proper confrontation with political economy and has become chaotic. This highly topical text addresses some major themes, including the shifting relationship between economics and other social sciences, the 'publish or perish' concept currently burdening scholarly integrity, and how a social science interdisciplinarity requires (...) a place for political economy together with cultural and social theory. (shrink)