117: Economic Sociology & Valuation -- Marion Fourcade (Summary of Episode)

Coming soon! We enter the field of economic sociology and valuation through a comparative study by Marion Fourcade on the different legal outcomes of oil spills in the US and France. “Cents and Sensibility: Economic Valuation and the Nature of ‘Nature’,” published in the American Journal of Sociology in 2011, presents a case study of the legal proceedings following oil spills in the US (the Exxon Valdez) and France (the Amoco Caldez) where the two lawsuits resulted in surprisingly different monetary awards to the plaintiffs. Why? The answers lie in how the nations constructed the very meaning of nature and its ostensible value.