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With only a few exceptions, economic sociology scholarship remains almost silent about illegality and crime in the economy. The implicit premise in the literature on market sociology is that institutional structures and exchanges taking place in markets are law abiding in nature. As a consequence of this legality bias the study of morality in markets has so far only addressed commodities – like human organs, gambling, drugs, alcohol, or tobacco – whose legal status depends on broad social agreements and has excluded markets whose workings are dependent on formally legitimized institutions like property rights, trademark laws, or copyrights. Drawing on seven months of ethnographic research, this chapter addresses the phenomenon of emerging moral justifications in the context of a marketplace for counterfeit and sweatshop-produced garments. In line with Anteby’s proposal on a “practice-based view of moral markets,” it argues that despite the broad moral consensus around trademark laws and the absence of professionals who advocate for legalization, moral justifications views arise from rising aspirations in such illegal markets. The case expands existing understandings of morality and contestation in economic sociology literature and shows its relevance in the context of recent academic scholarship on perceptions of the future as a source of moral justification of market exchanges.

In the context of debates on the role of social partners in shaping anti-crisis policies, the article explores the developments of social dialogue in Poland following the outbreak of the pandemic. The central research question is whether the crisis has helped to revitalise social dialogue or has it further revealed its weaknesses that were apparent before it.

The paper is based on the combination of literature review and the analysis of primary data derived from 22 expert interviews with the representatives of trade unions, employers and ministries collected in 2020–2021 in four essential industries (education, health care, social care and logistics).

The analysis suggests that the pandemic led to reinforcement of “illusory corporatism” in Poland, deepened mistrust among social partners and triggered a shift to informal channels of influencing policymaking. The weakness of the social partners and the strong position of the right-wing populist government meant that fears of recession and a health crisis were insufficient to develop “crisis” corporatism. While business interests were represented better than labour in policymaking, limited labour-friendly outcomes have been achieved as a result of workers’ mobilisation and unilateral decisions of the government rather than tripartite social dialogue.

Based on original empirical research, the article contributes to the discussion on the impact of the crisis on social dialogue under patchwork capitalism. It points to the role of strong governments and informality in circumventing tripartite structures and the importance of essential workers’ mobilisation in response to the lack of social dialogue.

This paper addresses social interatcion and the formation of value beliefs in markets. It empirically examines value construction by analyzing rebidding behavior in online auctions, wherein individuals reassess the maximum price they would pay for a given product. Statistical analyses of more than 10,000 auctions containing more than 55,000 individual bids on the auction website eBay suggest that rebidding is positively associated with a lack of auction-internal price information and bidder inexperience. Analyses also suggest that engaging in rebidding is positively associated with an individual winning an auction. This work, therefore, helps to provide a deeper understanding about valuation, price formation, and the organization of markets. This work contributes to domains of research related to the construction of value and the emergence, evaluation, and legitimization of new products, services, and ideas.

To demonstrate how awareness of Neo-Marxist critical theory and Neo-Weberian comparative–historical sociology would have been beneficial to U.S. policy planners and decision-makers, especially Presidents.

This study employs qualitative analysis of available sources rather than quantitative data analysis.

Based on its practical application to a specific historical instance, the heuristic value of Max Weber’s ideal-type model of traditional authority (Herrschaft [domination]) is confirmed, as it is apparent that Henry Kissinger’s interpretation of the meaning of Realpolitik harmed U.S. foreign policy.

There is an imminent need to be critical of claims to expertise by advisors of major decision-makers. The practical relevance of possessing an adequate grasp of a given situation as the context in which actors must make choices is evident, as applies with regard to the current crises facing the world, which must be approached and addressed as scrupulously as possible.

Prevailing critiques of Kissinger and American foreign policy have tended to accept the premise that Kissinger was well-informed and giving good advice based on extensive and appropriate scholarship. That was not the case in Vietnam, in Indonesia, or in other regions. There are no available studies that examine Kissinger’s Eurocentric and limited perspective in light of critical theory and comparative–historical sociology.

In this paper, I demonstrate an alternative explanation to the development of the American electricity industry. I propose a social embeddedness approach (Granovetter, 1985, 1992) to interpret why the American electricity industry appears the way it does today, and start by addressing the following questions: Why is the generating dynamo located in well‐connected central stations rather than in isolated stations? Why does not every manufacturing firm, hospital, school, or even household operate its own generating equipment? Why do we use incandescent lamps rather than arc lamps or gas lamps for lighting? At the end of the nineteenth century, the first era of the electricity industry, all these technical as well as organizational forms were indeed possible alternatives. The centralized systems we see today comprise integrated, urban, central station firms which produce and sell electricity to users within a monopolized territory. Yet there were visions of a more decentralized electricity industry. For instance, a geographically decentralized system might have dispersed small systems based around an isolated or neighborhood generating dynamo; or a functionally decentralized system which included firms solely generating and transmitting the power, and selling the power to locally‐owned distribution firms (McGuire, Granovetter, and Schwartz, forthcoming). Similarly, the incandescent lamp was not the only illuminating device available at that time. The arc lamp was more suitable for large‐space lighting than incandescent lamps; and the second‐generation gas lamp ‐ Welsbach mantle lamp ‐ was much cheaper than the incandescent electric light and nearly as good in quality (Passer, 1953:196–197).

The purpose of this paper is to analyze data from the first-ever national-level study of informal work in the USA to test two prominent points of focus in the literature: how participation in informal work relates to social embeddedness and formal labor supply. This paper also provides a comparative test of the factors associated with exchange-based informal work (i.e. money/barter) vs self-provisioning activities.

The study draws on data from a national-level household telephone survey and uses descriptive statistics and logistic regression models.

The data show that participation in the informal economy is widespread in the USA. Consistent with theory, it is found that measures of social embeddedness and formal labor supply are much more salient for predicting participation in informal work for money/barter compared to self-provisioning.

Drawing on unique data from the first national-level household survey of informal work in the USA, this study provides generalizable support for the contention that the informal sector stands as a persistent structural feature in modern society. The results build on the wealth of information produced by qualitative case studies examining informal economic activity as well as a smaller number of regionally targeted surveys to provide important theoretical insights.

Dobbin and Zorn discuss the role that the rise of shareholder value has played in the behavior that led to the corporate scandals from 2001 and onwards, and they also discuss the link between the notion of shareholder value and malfeasance more generally. Their basic argument is that there is a distinct tendency for corporations that are operated according to the principles of shareholder value to engage in corrupt behavior. More precisely, in an attempt to live up to securities analysts’ predictions, they will falsify the books. Attempts to stop this type of behavior through legal means, such as the Sarbanes-Oxley Act, will not succeed since they do not eliminate the main reasons why the books are cooked in the first place.

New institutionalisms in economic and organizational sociology need grounding in theories of capitalism. Comparative studies show that multiple, viable forms of capitalism have been constructed through the interplay of institutions, mobilizations of political power, and state policies. Further theoretical development requires attention to the contradictions of capitalism. Promising theoretical sources for this task are examined. The political process produces new forms of capitalist institutions, but contradictions built into those institutions cannot be fully resolved and provide the basis for new acts of social construction and power mobilization. The power and cultural arguments of the comparative institutionalists are joined, at least in aspiration, to theories of capitalist contradictions.