Represents a major step forward in the use of economic sociology to illuminate the nature and workings of capitalism amid the far-reaching changes of the contemporary era of global capitalism. This work addresses core issues and problems in the new study of capitalism; and considers a variety of topics concerning America.

Foreword: Institutions, Markets, and Games by Avner Greif ix Acknowledgments xxxiii Introduction by Victor Nee and Richard Swedberg xxxv PART I: The New Study of Capitalism 1 The Economic Sociology of Capitalism: An Introduction and Agenda by Richard Swedberg 3 Capitalism and Economic Growth by Douglass C. North 41 Organizational Dynamics of Institutional Change: Politicized Capitalism in China by Victor Nee 53 Still Disenchanted? The Modernity of Postindustrial Capitalism by Francis Fukuyama 75 The Challenges of the "Institutional Turn": New Interdisciplinary Opportunities in Development Theory by Peter Evans 90 PART 2: Institutions of American Capitalism 117 States, Markets, and Economic Growth by Neil Fligstein 119 Venture Capital and Modern Capitalism by John Freeman 144 The Economic Sociology of Organizational by Entrepreneurship: Lessons from the Stanford by Project on Emerging Companies by James N. Baron and Michael T. Hannan 168 Making Sense of Recession: Toward an Interpretive by Theory of Economic Action by Mitchel Y. Abolafia 204 Information Inequality and Network Externalities: A Comparative Study of the Diffusion of Television by and the Internet by Paul DiMaggio and Joseph Cohen 227 Affective Attachment in Electronic Markets: A Sociological Study of eBay by Ko Kuwabara 268 Circuits within Capitalism by Viviana A. Zelizer 289 PART 3: Global Transformation and by Institutional Change 323 Brain Circulation and Capitalist Dynamics: Chinese by Chipmaking and the SiliconValley-Hsinchu-Shanghai Triangle by AnnaLee Saxenian 325 The Globalization of Stock Markets and Convergence in Corporate Governance by Gerald F. Davis and Christopher Marquis 352 Fiscal Sociology in an Age of Globalization: Comparing Tax Regimes in Advanced Capitalist Countries by John L. Campbell 391 Trouble in Paradise: Institutions in the Japanese by Economy and the Youth Labor Market by Mary C. Brinton 419 List of Contributors 445 Index 447

"By proposing a shift of focus for economic sociology in an important and so far underinvestigated realm, this book represents a significant advancement in the further development of the field. What has been underemphasized in the new economic sociology, the editors rightly claim, is a more macro-oriented investigation of the operation of capitalism as an economic and social system. The high quality contributions in The Economic Sociology of Capitalism address concerns that have stood at the center of classical works in economic sociology by Weber, Durkheim, Polanyi, and Schumpeter which are still important and will find more attention through this volume." - Jens Beckert, Georg-August-Universitat Gottingen, author of Beyond the Market"

"By proposing a shift of focus for economic sociology in an important and so far underinvestigated realm, this book represents a significant advancement in the further development of the field. What has been underemphasized in the new economic sociology, the editors rightly claim, is a more macro-oriented investigation of the operation of capitalism as an economic and social system. The high quality contributions in The Economic Sociology of Capitalism address concerns that have stood at the center of classical works in economic sociology by Weber, Durkheim, Polányi, and Schumpeter which are still important and will find more attention through this volume."—Jens Beckert, Georg-August-Universität Göttingen, author of Beyond the Market"An excellent contribution to the field. Not only are the editors and authors leading figures in the social sciences, but the individual contributions are always good and sometimes outstanding. Importantly, the book goes well beyond previous collections on economic sociology, which have overrelied on 'oppositional identity' with regard to economics and have been satisfied for too long with poking holes in specific economic arguments rather than developing coherent sociological ones. From the opening through all of the chapters, this book takes economics seriously—a necessary starting point for an effective economic sociology. Its focus on the institutions of capitalism represents an important first step to constructing economic-sociological theory. The chapters are varied in style and subject, which makes the book interesting and substantively rewarding."—Paul Ingram, Columbia University

By proposing a shift of focus for economic sociology in an important and so far underinvestigated realm, this book represents a significant advancement in the further development of the field. What has been underemphasized in the new economic sociology, the editors rightly claim, is a more macro-oriented investigation of the operation of capitalism as an economic and social system. The high quality contributions in The Economic Sociology of Capitalism address concerns that have stood at the center of classical works in economic sociology by Weber, Durkheim, Polanyi, and Schumpeter which are still important and will find more attention through this volume. -- Jens Beckert, Georg-August-Universitat Gottingen, author of "Beyond the Market" An excellent contribution to the field. Not only are the editors and authors leading figures in the social sciences, but the individual contributions are always good and sometimes outstanding. Importantly, the book goes well beyond previous collections on economic sociology, which have overrelied on 'oppositional identity' with regard to economics and have been satisfied for too long with poking holes in specific economic arguments rather than developing coherent sociological ones. From the opening through all of the chapters, this book takes economics seriously--a necessary starting point for an effective economic sociology. Its focus on the institutions of capitalism represents an important first step to constructing economic-sociological theory. The chapters are varied in style and subject, which makes the book interesting and substantively rewarding. -- Paul Ingram, Columbia University