A Sociological Economy Research Approach of “Economy” and “Market”: Karl Polanyi’s “Substantive Economy Research Approach”
Date Issued
2012
Date
2012
Author(s)
Wu, Chun-Sheng
Abstract
The fundamental purpose of my study is trying to reconstruct and extend the "substantive economic research approach”, which was proposed by Karl Polanyi in Trade and Market, in the Early Empire(1957), and then use the "substantive economic research approach” to establish a sociological conceptualization and research program of the “Economy” that can solve the conceptualization problems which exist in new economic sociology.
The main content of the thesis can be divided into four chapters. The first chapter discusses that the conceptualization problems of the “economy” which exist in the new economic sociology, and shows that how to apply the “substantive economy research approach” to solve these conceptualization problems. Chapter two is dedicated to reconstruct the “substantive economics research approach” and make some simple assessment and evaluation of the research approach. In the third chapter, I apply Karl Polanyi''s “substantial economic research approach” to construct a “self-regulated market” model, which can describe and explain the overall economic operational pattern and the effect of the modern “money-good” exchange economy at collective level and long run. Finally, in the fourth chapter, in order to further clarify the uniqueness of “self-regulated market” model and its proper use, I compare the “self-regulated market” model which deriving from substantive economy research approach to the neoclassical economics and the new economic sociology. Moreover, I will re-evaluate the new-economic-sociology-evaluation of the theory of Karl Polanyi in the latter part of this chapter. Chapter five is a simple conclusion.
In conclusion, I think the reason why “substantive economic research approach” can grasp the characteristics of the modern economic system better than new economic sociology (as well as neoclassical economics) is that : “substantive economic research approach” point out correctly that we cannot derived the inappropriate proposition that " economic activities are embedded-in the non-economic social relations " from the rather appropriate proposition that “economic relations are embedded in the non-economic social relations. On the contrary, economic relations which are supported or constituted by non-economic social relations can shape the overall economic operational pattern according to the principles that different from the principles which non-economic social relations comply with. That is to say, modern economic system ought to be identified as a “self-regulated market” economy which is embedded-in the two kinds of economic relations----the “self-regulated market social relation” and the “price-making market social relation”.
Subjects
substantive economy research approach
self-regulated market
embeddedness
embedded-in-ness
new economic sociology
neoclassical economics
Type
thesis
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