Title: 'The economy of morals and its applications' - an attempt to understand some central concepts in the work of Albert O. Hirschman
Abstract:Abstract This article argues that, with very few exceptions, social theory has neglected the usefulness of concepts derived from 'the economy of morals' approach as theorized by Albert O. Hirschman. I...Abstract This article argues that, with very few exceptions, social theory has neglected the usefulness of concepts derived from 'the economy of morals' approach as theorized by Albert O. Hirschman. In an attempt to popularize Hirschman's unique critique of political economy, it is treated here as a middle-range theory that dissents from the two extremes of grand theory and factual empirical evidence, and thus provides social scientists with concepts that, rather than offering an alternative between either 'deducing down' or 'building up', both 'deduce down' and 'build up' at the same time. After the events of '1989', social science and social theory have barely begun to reflect on the impact that these events had on a theoretical level. It is argued that Hirschman's approach differs from most current sociological reasoning in that it can be used to explain unforeseen circumstances and unexpected events. Hirschman's conceptualization of 'the economy of morals' thus provides a new theoretical framework that has the potential to overcome most of current social theory's weaknesses in conceptualizing the 'post-1989' world. Keywords: Economy Of MoralsCritique Of Political EconomyMiddle-range Theories And Concepts'1989'Albert o. HirschmanRead More
Publication Year: 1999
Publication Date: 1999-01-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 16
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