Neoclassical economics posits that economic actions are driven by decision undertaken by self-interested actors making instrumentally-rational calculations for the purpose of maximizing individual economic returns. In actuality, transactions between economic actors are “socially embedded”: they are guided by the norms, values and expectations that underpin actors’ relationships with each other. The social embeddedness of economic action explains phenomena such as corruption, discriminatory hiring and “ethnic economies”, among other things. Accordingly, this lecture by Liran Morav, Department of Sociology will introduce different ways of understanding the role and impact of social relationships on actors’ economic decisions.
This lecture was recorded on 14th November, 2017, at , Sidgwick Site, University of Cambridge.
Want to find out more?
Like our Facebook page: / cambridgesocietyforeco...
Browse our website: www.cambridgepl...
And of course you can also subscribe to our RU-vid channel!
29 сен 2024
