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Economy and Society |
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| Routledge 1992 289pp. 0-415-02909-0; 0-415-02910-4 (paper) Bibliography; Indexes |
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Holton tackles a subject of fundamental and varied dimensions and scores well. The
author's objective is to successfully blend the disciplines of economics and sociology in
their historical and political contexts to provide broader and solid foundations for a new
discipline of economic sociology. To initiate readers to traverse the new path of economic
sociology, the author provides enough antecedents. The accepted scarcity of means in
relation to the wants definition of economics serves as a starting point, and from here
the study branches off in the directions of the critical evaluation of economic
liberalism, the theory of public choice, Marxian political economy, sociology, and the
economic anthropology of Karl Polanyi. Holton's presentation and appraisal of Polanyi are
sharp and succinct. He forcefully states Polanyi's thesis of economic embeddedness and
differentiation in premarket and market periods respectively. Limitations of the free
market system are overemphasized to the extent that the dynamic aspects are overlooked.
And, at times the material presented is fragmentary. But on the whole this is an admirable
effort, particularly in the final two chapters where the author weaves together all the
threads in a unified way. The book should be a welcome addition to the budding discipline
of economic sociology. It can be gainfully used by undergraduate and graduate students
and, as a stepping-stone, by researchers and faculty.
--Reviewed by C. J. Talele in Choice, 30 (July/August 1993), p. 1815.
