Economic Action and Social Structure: The Problem of Embeddedness

@article{citeulike:142466, abstract = {How behavior and institutions are affected by social relations is one of the classic questions of social theory. This paper concerns the extent to which economic action is embedded in structures of social relations, in modern industrial society. Although the usual neoclasical accounts provide an \"undersocialized\" or atomized-actor explanation of such action, reformist economists who attempt to bring social structure back in do so in the \"oversocialized\" way criticized by Dennis Wrong. Under-and oversocialized accounts are paradoxically similar in their neglect of ongoing structures of social relations, and a sophisticated account of economic action must consider its embeddedness in such structures. The argument in illustrated by a critique of Oliver Williamson's \"markets and hierarchies\" research program.}, author = {Granovetter, Mark}, citeulike-article-id = {142466}, journal = {The American Journal of Sociology}, keywords = {marketing, network}, number = {3}, pages = {481--510}, posted-at = {2007-10-21 11:51:28}, priority = {2}, title = {Economic Action and Social Structure: The Problem of Embeddedness}, url = {http://www.jstor.org/stable/2780199}, volume = {91}, year = {1985} }

TY - JOUR ID - citeulike:142466 L3 - citeulike-article-id:142466 N2 - How behavior and institutions are affected by social relations is one of the classic questions of social theory. This paper concerns the extent to which economic action is embedded in structures of social relations, in modern industrial society. Although the usual neoclasical accounts provide an "undersocialized" or atomized-actor explanation of such action, reformist economists who attempt to bring social structure back in do so in the "oversocialized" way criticized by Dennis Wrong. Under-and oversocialized accounts are paradoxically similar in their neglect of ongoing structures of social relations, and a sophisticated account of economic action must consider its embeddedness in such structures. The argument in illustrated by a critique of Oliver Williamson's "markets and hierarchies" research program. IS - 3 JF - The American Journal of Sociology EP - 510 TI - Economic Action and Social Structure: The Problem of Embeddedness VL - 91 SP - 481 KW - marketing KW - network AU - Granovetter, Mark PY - 1985/// UR - http://www.jstor.org/stable/2780199 ER -