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Economic Action and Social Structure: The Problem of Embeddedness (1985)
| Venue: | American Journal of Sociology |
| Citations: | 3310 - 3 self |
BibTeX
@ARTICLE{Granovetter85economicaction,
author = {Mark Granovetter},
title = {Economic Action and Social Structure: The Problem of Embeddedness},
journal = {American Journal of Sociology},
year = {1985},
pages = {481--510}
}
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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 neoclassical 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 is illustrated by a critique of Oliver Williamson's "markets and hierarchies " research program. INTRODUCTION: THE PROBLEM OF EMBEDDEDNESS How behavior and institutions are affected by social relations is one of the
Keyphrases
economic action social structure social relation social theory atomized-actor explanation classic question dennis wrong sophisticated account research program oliver williamson modern industrial society problem embeddedness behavior reformist economist usual neoclassical account oversocialized account
