Transcending history's heavy hand: The future in economic action

Jens Beckert and Timur Ergen

No 20/3, MPIfG Discussion Paper from Max Planck Institute for the Study of Societies

Abstract: This paper discusses sociological analyses of the formation and role of expectations in the economy. Recognition of the social constitution of expectations advances the understanding of economic action under conditions of uncertainty and helps to explain core features of modern capitalist societies. The range of applications of the analytical perspective is illustrated by closer examination of three core spheres of capitalist societies: consumption, investment, and innovation. To provide an idea of core challenges of the approach, three major research questions for the sociological analysis of expectations are presented.

Keywords: action theory; economic sociology; expectations; firms; innovation; markets; social change; Erwartungen; Handlungstheorie; Innovation; Märkte; Organisationen; sozialer Wandel; Wirtschaftssoziologie (search for similar items in EconPapers)
Date: 2020
New Economics Papers: this item is included in nep-his and nep-hme
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:mpifgd:203

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