1. Transcending History’s Heavy Hand: The Future in Economic Action
- Author:
- Jens Beckert and Timur Ergen
- Publication Date:
- 03-2020
- Content Type:
- Working Paper
- Institution:
- Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo)
- Abstract:
- This paper discusses sociological analyses of the formation and role of expectations in the economy. Recognition of the social constitution of expectations advances the understanding of economic action under conditions of uncertainty and helps to explain core features of modern capitalist societies. The range of applications of the analytical perspective is illustrated by closer examination of three core spheres of capitalist societies: consumption, investment, and innovation. To provide an idea of core challenges of the approach, three major research questions for the sociological analysis of expectations are presented.
- Topic:
- Markets, Innovation, Social Change, Economic Sociology, Expectations, and Firms
- Political Geography:
- Global Focus