Professional Documents
Culture Documents
“PROJECT WORK”
“INSTITUTIONALISM”
19RU11019
SESSION:-2019-2024
SEMESTER:- I
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INSTITUTIONALISM
ACKNOWLEDGEMENT
I take this opportunity to express our humble gratitude and personal regards to MR. RANDHIR
GAUTAM for inspiring me and guiding me during the course of this project work and also for
his cooperation and guidance from time to time during the course of this project work on the
topic “INSTITUTIONALISM”.
GAURAV TYAGI
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INSTITUTIONALISM
The crux of our dilemma, according to Seligman, is that as trust becomes increasingly
important, it is also less sustainable. Why? Changes in the division of labor have reduced
people's familiarity with others in similar class positions. Developments such as today's high
divorce rate, the emergence of a service economy, and even the recent baseball strike all
contribute to an expansion of roles and a weakening of trust. Rather than concluding that this
multiplicity of contemporary roles supports postmodernism's contention that there is no self
and only roles, Seligman’s phenomological presuppositions lead him instead to argue that the
self requires a stable basis. Thus Seligman views the emergence of speech codes and smoking
restrictions as evidence of the erosion of trust between individuals in the private sphere. Trust
is now being replaced by external systems such as law. More importantly, Seligman suggests
that the individual, as the basis of personal identity, may be disappearing. The individual is not
replaced by a postmodern sensibility that revels in its ability to recreate an identity at will, but
instead by pre-modern forms of group identity, of which multiculturalism is a prime example.
Seligman's argument is provocative and compelling, even though the reader is left
desiring more empirical detail to flesh out Seligman's at times impressionistic evidence.
Seligman's description and analysis of trust's importance to the modern project, in fact, are
more convincing than his prediction that we may be standing on the brink of a brutish,
Hobbesian world in which coercion rather than trust will govern social relations. Given the
impressive scope of Seligman's arguments, however, one thing is clear: understanding the
nature and limits of trust will be an increasingly essential sociological task of the twenty-first
century.
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This interplay produced a volume with greater thematic coherence than most
multiauthored compilations. The contributors collectively reveal the recent florescence of
institutional seeds planted in economics by Ronald Coase (transaction costs) and Douglas
North (incentives), and in sociology by Mark Granovetter (embeddedness) and James Coleman
(social capital). Not to be confused with the new institutionalism disseminated within
organization studies, this macro structural strain conceives its paradigm as "choice-within-
constraints." Analysts attempt to explain the creation and maintenance of both formal rules and
informal norms, their interplay and regulatory impact on economic action, and historical
change in capitalist economic institutions. By including selections from economists Douglas
North and Robert Frank, the editors hope the volume "extends the intellectual legacy of
classical sociologists and earlier sociological institutionalists who similarly engaged in
productive intellectual trade with economics" (Nee & Brinton, 12). Sociology is hobbled by
absence of a distinctive micro level theory of choice that could effectively challenge the
dominant rational, utility-maximizing economic actor. Consequently, to avoid becoming a
decorative appendage to the gloomy science, sociological institutionalists must demonstrate
how their macro-level visions bring valuable constraint-side insights to the bargaining table.
For the most part, these contributors admirably clarify the terms under which successful
integration might occur.
Several theoretical essays underscore the relevance and limits of exchange, game
theory, networks, and organizational perspectives in accounting for the emergence, survival,
and change in formal norms governing economic action - contracts, property rights, laws,
regulations, and the state. Victor Nee and Paul Ingram argue, con-Granovetter, that personal
ties provide too weak a foundation on which to erect reliable, credible trust and commitment
that can sustain large-scale economic action. They offer a three-level analytic framework
(institutional formal norms, organizations, and small group informal norms), accompanied by
five propositions, which they then apply to co-authorship norms in a synchrotron. (If you think
tenure reviews in sociology are tough, how would you like to make sense of articles with 250
names?) Gary Hamilton and Robert Feenstra propose merging Weber's ideal types of economic
action with Leon Walras's vision of the economy as organized interconnections across multiple
markets to synthesize equilibria with multiple outcomes. Their model is still too vague to
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determine under what conditions are alternative capitalist forms launched down their historic
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paths. Bruce Western suggests numerous ways of developing institutionally and historically
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informed analyses of labor markets, aimed at explaining the impact of centralized versus
decentralized labor relations norms in advanced nations. Alejandro Portes and Julia
Sensenbrenner defend six complex propositions on solidarity and trust among immigrant
groups, while Ivan Szelenyi and Eric Kostello outline an institutional theory of inequality in
the post-communist Eastern European nations. Douglas North's Nobel Prize speech reprises
his quarrel with neoclassical economics, Collectively, these essays offer an immense orchard
of promising fruits to be plucked, sorted, washed and graded.
other arenas of institutional propagation, most importantly the polity. With the notable
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exception of the pieces by Ingram, Hopcroft, and Szelenyi and Kostello, the state is largely
invisible, as are political parties, elections, interest groups, courts, bureaucracies and
constitutions. But surely these institutions have a great deal to say about the choice-within-
constraints under which modern political economies operate. This book offers its readers an
excellent overview of institutional currents connecting sociology and economics, but it cries
for a companion that does the same for political science and political sociology.
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