Political economy and economic sociology have developed in relative isolation from each other. While political economy focuses largely on macro phenomena, economic sociology focuses on the embeddedness of economic action. The article argues that economic sociology can provide a microfoundation for political economy beyond rational actor theory and behavioral economics. At the same time political economy offers a unifying research framework for economic sociology with its focus on the explanation of capitalist dynamics. The sociological microfoundation for understanding of capitalist dynamics (...) should focus on the expectations actors have regarding future states of the world. Based on a discussion of what I call the four Cs of capitalism, I argue that under conditions of uncertainty, expectations are contingent and should be understood as “fictional expectations.” The capability of humans to imagine future states of the world that can be different from the present is the central basis for a sociological microfoundation of the dynamics of economic macro phenomena. Macroeconomic dynamics are anchored in these “fictional expectations,” which create motifs for engaging in potentially profitable but ultimately incalculable outcomes. This shifts attention to the “management of expectations” as a crucial element of economic activity and to the institutional, political, and cultural foundations of expectations. The reproduction of capitalism is precarious also because of the contingency of expectations conducive to its growth. (shrink)

While social scientists and historians have been exchanging ideas for a long time, they have never developed a proper dialogue about social theory. William H. Sewell Jr. observes that on questions of theory the communication has been mostly one way: from social science to history. Logics of History argues that both history and the social sciences have something crucial to offer each other. While historians do not think of themselves as theorists, they know something social scientists do not: how to (...) think about the temporalities of social life. On the other hand, while social scientists’ treatments of temporality are usually clumsy, their theoretical sophistication and penchant for structural accounts of social life could offer much to historians. Renowned for his work at the crossroads of history, sociology, political science, and anthropology, Sewell argues that only by combining a more sophisticated understanding of historical time with a concern for larger theoretical questions can a satisfying social theory emerge. In Logics of History, he reveals the shape such an engagement could take, some of the topics it could illuminate, and how it might affect both sides of the disciplinary divide. (shrink)

When examined together, Swedburg argues, these books and other writings constitute an interesting alternative model of economic thinking, as well as a major contribution to political economy that deserves a place in contemporary discussions ...

This paper considers Kant's views on how it can be rational to hope for God's assistance in becoming morally good. If I am fully responsible for making myself good and can make myself good, then my moral condition depends entirely on me. However, if my moral condition depends entirely on me, then it cannot depend on God, and it is therefore impossible for God to provide me with any assistance. But if it is impossible for God to provide me with (...) any assistance, it is irrational for me to hope for such assistance. I address this conundrum by providing an analysis of one necessary condition of rational hope: hope is rational only if the subject is not in a position to be certain that p is really impossible. I then offer several different strategies on which it might be rational to hope that God provides moral assistance, with the most radical of these strategies suggesting that, given our ignorance of the laws of the intelligible world, for all human beings know it is metaphysically possible that God perform a noumenal miracle on their moral character. -/- . (shrink)

Into wrestling with that question, Simone Weil put the very substance of her mind and temperament.

A study of Hannah Arendt's indictment of social science, approaches to totalitarianism (Bolshevism and National Socialism), and of the robust responses of her ...

Discusses the nature of thought and volition, examines past philosophical theories, and clarifies the relation between will and freedom.

Richard Sorabji presents a ground-breaking study of ancient Greek views of the emotions and their influence on subsequent theories and attitudes, Pagan and Christian. While the central focus of the book is the Stoics, Sorabji draws on a vast range of texts to give a rich historical survey of how Western thinking about this central aspect of human nature developed.

In Professional Ethics and Civic Morals , Emile Durkheim outlined the core of his theory of morality and social rights which was to dominate his work throughout the course of his life. In Durkheim's view, sociology is a science of morals which are objective social facts, and these moral regulations form the basis of individual rights and obligations. This book is crucial to an understanding of Durkheim's sociology because it contains his much-neglected theory of the state as a moral institution, (...) and it provides an understanding of his critique of anomie and egoistic individualism. The growing interest in cultural revolution and moral regulation make this edition of Durkheim's classic work especially timely. The new preface by Bryan Turner sets the book in its intellectual and historical context, and illustrates the relevance of this work to present day debates on the state, society, and moral regulation. (shrink)

This book argues that Augustine assimilated the Stoic theory of perception and mental language (lekta/dicibilia), and that this epistemology underlies his accounts of motivation, affectivity, therapy for the passions, and moral progress. Byers elucidates seminal passages which have long puzzled commentators, such as Confessions 8, City of God 9 and 14, Replies to Simplicianus 1, and obscure sections of the later ‘anti-Pelagian’ works. Tracking the Stoic terminology, Byers analyzes Augustine’s engagement with Cicero, Seneca, Ambrose, Jerome, Origen, and Philo of Alexandria, (...) demonstrating that Augustine appropriated Stoicism with greater sophistication than other religious writers. She also shows how he moved beyond the Stoics by enriching Stoic cognitivism with Platonic motivational theory, arguing that Augustine created a coherent synthesis. This newly discovered Augustinian moral psychology has elements that contemporary philosophers and psychologists have identified as important. (shrink)

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. (shrink)

"What is required if men and women are to feel at home in society and are to recover their vitality? Into wrestling with that question, Simone Weil put the very substance of her mind and temperament. The apparently solid edifices of our prepossessions fall down before her onslaught like ninepins, and she is as fertile and forthright in her positive suggestions . . . she can be relied upon to toss aside the superficial and to come to grips with the (...) essential and the profound." -- Time Literary Supplement. (shrink)

In this review, we explore how the concept of embeddedness has shaped - and been shaped by - the evolution of the subfield of economic sociology. Although embeddedness is often taken as a conceptual umbrella for a single, if eclectic, approach to the sociological study of the economy, we argue that in fact the concept references two distinct intellectual projects. One project, following from Granovetter's (1985) well-known programmatic statement, attempts to discern the relational bases of social action in economic contexts. (...) Another project, drawing from Polanyi's [1944 (2001), 1957, 1977] social theory, concerns the integration of the economy into broader social systems. Critically, these two formulations of embeddedness involve different views of the relationship between the economic and the social. The implication is that the obstacles to theoretical integration in economic sociology, while not insurmountable, are greater than is typically acknowledged. (shrink)

Arendt Contra Sociology re-assesses the relationship between Hannah Arendt's work and the theoretical foundations of sociology, bringing her insights to bear on key themes within contemporary theoretical sociology. Departing from the view of Arendt as a political theorist who sought to rescue politics from society, and political theory from the social sciences, this book re-examines her distinctions between labour, fabrication and action as a theory of the fundamental ontology of human societies, revisiting her criticism of the tendency of many sociological (...) paradigms to conflate the activity of fabrication with that of action. (shrink)