It can be argued that the core of subfield new economic sociology (NES) is consisted two inter-related yet distinct foundational criticisms by sociologists to mainstream economics: i) its commitment rational choice leads an “under-socialized” concept agent; and ii) it correct understanding market affairs, if “embeddedness” included in analysis. In this paper, I will argue these dual are insuffi...

The purpose of this article is to analyze the relation between scientific knowledge in the form of theories and the world that such theories are about. The focus is on market theories. I argue that everyday knowledge, conceptualized using the notion of “lifeworld,” is the bedrock of scientific knowledge. I also make two distinctions, one between types of markets and one between principles of or...

This paper considers how identity, a person’s sense of self, affects economic outcomes. We incorporate the psychology and sociology of identity into an economic model of behavior. In the utility function we propose, identity is associated with different social categories and how people in these categories should behave. We then construct a simple game-theoretic model showing how identity can af...

The issue explored here is an example of the interface between social research and social policy in the United States. The aging policy debate concerning the economic status of the elderly has tended to focus upon the disadvantaged; it is informed by a relatively selective view of the financial resources of older persons. The result has been policy that is vulnerable to the market attention giv...

We theorize about and test the effects of the military and education expansion as strategies of economic growth for developing countries, emphasizing these capital effects are conditioned by more global, or world-system processes. Early sociological theory neglects global forces but offers foundational themes that link social capital such as militarization and schooling to economic advance. The...

Game theory is rampant in economics. Having long ago invaded industrial organization (the sub-field of economics that studies firms and their product markets), game-theoretic modeling is now commonplace in international, labor, macro, and financial economics, and is gathering steam even in development economics and economic history. Nor is economics alone: accounting, law, marketing, political ...