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Fligstein, Neil. The Architecture of Markets: An Economic Sociology of Twenty-First-Century Capitalist
Societies. Princeton: Princeton University Press, 2001.
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Table of contents
Abstract
Reviews
Excerpt
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| List of Tables |
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| Preface |
| 1.Bringing Sociology Back In | 3 |
| A Critique of the Existing Literature in the Sociology
of Markets | 6 |
| Theoretical Questions for a Sociology of Markets
| 10 |
| A Political-Cultural Approach | 15 |
| Structure of the Book | 20 |
| Normative Implications of the Political-Cultural
Approach to the Sociology of Markets | 21 |
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| PART I | 25 |
| 2. Markets as Institutions | 27 |
| Market Institutions: Basic Definitions | 28 |
| State Building and Market Building | 36 |
| Power in Policy Domains and Market Institutions
| 42 |
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| 3. The Politics of the Creation of Market Institutions | 45 |
| Political Structuring of Labor Market Institutions
| 5 3 |
| Policy Domains and Market Regulation in Real Societies
| 56 |
| Stability and Complexity | 59 |
| Implications for Research | 62 |
| Conclusion | 64 |
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| 4.The Theory of Fields and the Problem of Market Formation | 67 |
| Markets as Fields | 67 |
| The Goal of Action in Stable Markets | 70 |
| The Problem of Change and Stability in Markets | 75 |
| Links between Market Formation and States | 86 |
| Some Macro Implications of the Theory of Fields | 89 |
| Globalization and Market Processes | 94 |
| Conclusion | 97 |
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| PART II | 99 |
| 5. The Logic of Employment Systems | 101 |
| Employment Systems as Institutional Projects | 103 |
| Variations and Transformations in Employment Systems | 107 |
| The Dynamics of Systems of Employment Relations | 108 |
| Insights into Comparative Employment Systems | 111 |
| Research Agendas | 117 |
| Conclusion | 120 |
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| 6.The Dynamics of U.S. Firms and the Issue of Ownership
and Control in the 1970s | 123 |
| Review of the Literature | 124 |
| Management versus Owner Control | 125 |
| Bank Control | 126 |
| Market Dynamics and Management Control | 128 |
| Hypotheses | 130 |
| Data and Methods | 132 |
| Results | 136 |
| Discussion and Conclusions | 144 |
| Appendix A | 146 |
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| 7. The Rise of the Shareholder Value Conception of the
Firm and the Merger Movement in the 1980s | 147 |
| What Is to Be Explained? | 150 |
| Finance Economics | 151 |
| Manager, Owner, and Bank Control | 153 |
| The Crisis of the Finance Conception of Control
and the Rise of the Shareholder Value Conception of Control | 155 |
| Hypotheses | 157 |
| Data and Methods | 158 |
| Results | 162 |
| Conclusion | 166 |
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| 8. Corporate Control in Capitalist Societies | 170 |
| Economic Theories and Mechanisms | 172 |
| Sociological Theories of Control | 176 |
| Comparative Cases | 181 |
| Conclusion | 189 |
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| 9. Globalization | 191 |
| Definitions of Globalization | 193 |
| Critique of Globalization Arguments | 195 |
| The Slow Expansion and Unevenness of Global Trade | 196 |
| Change or Continuity in the Organization of Production?
| 203 |
| Does Globalization Cause Deindustrialization and
Inequality? | 206 |
| Politics, Governments, and Financial Markets | 209 |
| Trade, Competition, Industrial Policy, and the
Welfare State | 213 |
| Globalization and Neoliberalism as an American
Project | 220 |
| Conclusion | 221 |
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| 10. Conclusions | 223 |
| Two Tales of One Industry | 223 |
| Stability and Efficiency | 228 |
| Efficiency, Stability, and Equity | 231 |
| Conclusion | 236 |
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| Notes | 239 |
| Bibliography | 247 |
| Index | 269 |
