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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...
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The postwar reconstruction of domestic and international orders ushered in a new political economy of capitalism. It entailed a far-reaching reorganization of social relations and economic institutions and accorded to the state an important role in the management of the economy. Many of the institutions of classical liberalism were displaced by interventionist mechanisms. The welfare state consolidated and extended multifarious forms of protection accorded to labor. A new level of...
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Through an examination of India's National Alliance of People's Movements (NAPM), the largest social movement alliance resisting neoliberal globalization in India, this paper attempts to theoretically reconstruct Polanyi's theory of (t the double movement" for the neoliberal age. Polanyi famously observed that early twentieth century liberal attempts to "dis-embed" the market from social controls created unprecedented social dislocations, leading to widespread protective (< countermovements...
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INTRO: This paper is a plea for greater cognizance of the errors of omission and commission committed by mainstream health economics, and the potential orientation in treating health and health care as (metaphorical) commodities that the unfettered influence of health economics may be prompting. Economic criticisms of mainstream health economics are evident, especially in the collection edited by John Davis (2001), but tend to be rather fragmented and lacking in credibility with our...
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This paper is an attempt at developing an analytical framework that could be helpful to understand the unstable character of the capitalist society, by drawing upon the work of four important thinkers: Marx, Weber, Schumpeter, and Polanyi. It is argued that all four share a similar vision towards capitalism, and that they are all indispensable for the thesis that the working of capitalism undermines its own institutional structure, and thus make the reproduction of the capitalist society a...
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The paper explores the relation of different political economic projects and the development of pensions as a social right in three countries: Sweden, Germany and United Kingdom. It comprises three parts. The first part provides the conceptual framework, which combines a Polanyian perspective for the social embeddedness of markets with a three dimensional power theoretical approach in order to analyse modes of governance as practices of socio-economic regulation. The second part identifies...
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The multiple ways in which multinational corporations, financial and commodity markets and global trade feed into today's civil wars have recently become a key policy concern of the international community. Over the past five years, a number of initiatives have been launched, aimed at controlling the trade in conflict goods, ensuring good resource governance, advocating corporate social responsibility and promoting conflict-sensitive business practices. This article assesses these...
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