Architecture of markets as a social process:

bringing law into institutionalist economic sociology

Visualizações: 720

Authors

DOI:

https://doi.org/10.20336/rbs.833

Keywords:

institutionalism, economic sociology, markets, law, recursivity

Abstract

Institutional approaches in economic sociology shed light on how states create and shape markets, thus revealing the variety of institutional configurations of state-market relationships in different countries. However, little attention has been paid to the processes through which, amidst political dynamics, states effectively build, structure, and regulate such markets. The article argues that an underlying reason for this is that, while law is occasionally referred to, it is still insufficiently considered. The argument is advanced in a dialogue with the works of Dobbin, Fligstein, and Vogel. We argue that taking the legal phenomenon (i) as constitutive of markets and state action; (ii) as part of the social struggle over institutions design; and (iii) as a structuring mechanism in the domestic-international interface may contribute, from the analytical viewpoint, to better understand the social process that underly the architecture of markets.

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Author Biographies

Pedro Salomon Bezerra Mouallem, Universidade de São Paulo

Doutorando em Direito pela Universidade de São Paulo.

Diogo Rosenthal Coutinho, Universidade de São Paulo

Professor da Faculdade de Direito da Universidade de São Paulo.

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Published

01-09-2021

How to Cite

Mouallem, P. S. B., & Coutinho, D. R. (2021). Architecture of markets as a social process:: bringing law into institutionalist economic sociology. Brazilian Journal of Sociology, 9(22), 111–144. https://doi.org/10.20336/rbs.833