Action theoretic foundations of economic sociology

The sketch of a consistent action theoretic foundation for economic sociology presents an unconventional picture from the standpoint of established approaches. The limiting conditions of application for action theory are institutional innovation and structural change. Rather than compete with institutional and structural accounts action theory complements them and indicates to what they might appropriately be applied. The postulate of uncertainty, and of the actorââ"šÂ¬Ã¢"žÂ¢s discovery of her preferences through action, implies the need to radically rethink the received notion of rationality. A consistent action theoretic perspective offers some direction here as well. By focussing on change and through its sensitivity to questions of uncertainty an action theoretic approach has important things to say concerning the interconnectedness of actions, the significance of learning and imagination in action, and the discontinuities in an actorââ"šÂ¬Ã¢"žÂ¢s identity through action. Not only do these issues have present currency in economic sociology, they also open it to a range of new possibilities both for theoretical and empirical investigation.