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Economics of Convention and New Economic Sociology

Mutual Inspiration and Dialogue

Roskilde University

This article is part of a larger exploration of the French economics of convention tradition. The aim of the article is to explore potential common themes in economic sociology and economics of conventions. The article explores two issues raised by economics of conventions that may be of particular importance to economic sociology. First, the explicit exploration of the consequences of a plurality of forms of justification, as elaborated in économie de la grandeur. This perspective was recently taken up in economic sociology by David Stark's introduction of the notion ‘sociology of worth’. The second issue, recently raised by André Orléan, is the attempt to denaturalize economic theory and economic action to demonstrate the social constructed nature of economic action. It is argued that these two issues demonstrate that a fruitful dialogue is indeed possible between economic sociology and economics of convention and should be encouraged.

Key Words: economic sociology • economics of convention • embeddedness • justification • uncertainty

Current Sociology, Vol. 55, No. 1, 75-91 (2007)
DOI: 10.1177/0011392107070135


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