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1 results

  • The Pragmatic Sources of Modern Power

  • Martijn Konings
  • Journal:
    European Journal of Sociology / Archives Européennes de Sociologie / Volume 51 / Issue 1 / April 2010
    Published online by Cambridge University Press:
    04 June 2010, pp. 55-91

  • Much work in present-day political economy still adheres to an economistic understanding of how markets operate - evident above all in the tendency to concentrate on the disciplinary and constraining effects of globalization. Using American power in financial affairs as an example, this essay proposes a shift of focus towards the constitution of actor capacities, which will permit more accurate conceptualizations of highly leveraged forms of agency. To this end, it turns to the philosophical foundations of the American pragmatist tradition, exploring the way in which it can inform a deeper understanding of the enabling qualities of institutions, the processes through which actor capacities emerge and the operation of power.