publication . Part of book or chapter of book . Other literature type . Article . 1985

Economic Action and Social Structure: the Problem of Embeddedness

Granovetter, Mark;
Open Access
  • Published: 01 Nov 1985
  • Publisher: Blackwell Publishers Ltd
  • Country: United States
Abstract
The concept of embeddedness has general applicability in the study of economic life and can alter theoretical and empirical approaches to the study of economic behaviors. Argues that in modern industrial societies, most economic action is embedded in structures of social relations. The author challenges the traditional economic theories that have both under- and oversocialized views of the conception of economic action and decisions that merge in their conception of economic actors atomized (separated) from their social context. Social relations are assumed to play on frictional and disruptive, not central, roles in market processes. There is, hence, a place and...
Subjects
free text keywords: Markets, Social networks, Embededdness, Culture
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