Journal Article

A pragmatist theory of capitalism

Christoph Deutschmann

in Socio-Economic Review

Published on behalf of Society for the Advancement of Socio-Economics

Volume 9, issue 1, pages 83-106
Published in print January 2011 | ISSN: 1475-1461
Published online June 2010 | e-ISSN: 1475-147X | DOI: http://dx.doi.org/10.1093/ser/mwq014
A pragmatist theory of capitalism

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This article explores the potential of pragmatist social theory (Dewey and Mead) for elaborating and clarifying the classical analyses of capitalism by Marx, Schumpeter, Sombart and Weber. It shows how a reinterpretation in the context of pragmatist discourse can overcome the rationalist shortcomings of Weber's theory of capitalism and formulate key Marxist concepts like ‘capital’ or ‘reification’ more convincingly. It also outlines a multi-level approach for analysing the dynamics of capitalism, focusing on the interaction between class structures, individual creativity and the communication of innovative paradigms.

Keywords: capitalism; practice; creativity; economic growth; money; capital; class; multi-level analysis; institutions; innovation; crises; Z1 economic sociology

Journal Article.  9896 words. 

Subjects: Moral Philosophy ; Corporate Social Responsibility ; Welfare Economics ; Political Economy ; Economic Sociology

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