The evolving role of organizational theory within economic sociology

Abstract

AbstractOrganizational theory was one of the roots of the “new” economic sociology. In recent years, a set of complementary research programs have come to the fore that augment our understanding of the social structuring of markets. These include an interest in the role of conventions and commensuration, market devices, the performativity of economics, and the role of morality in the construction of markets. These other interests have come to enrich our conception of the ways in which “the social” structures market activities. While this has decentered some of the emphasis on organizations, there are still active research programs pushing forward new ideas that are focused on organizations, institutions, and networks in economic sociology. We discuss some of the recent work on organizational logics, inter‐ and intra‐organizational networks, and social movements and organization. We note there has also been some hybridity as scholars borrow from each other's toolkits in order to deepen our knowledge of the way the economy works. Organizational theory remains a main theoretical mainstay of economic sociology, but it has now been joined by additional perspectives.