127: The Problem of Embeddedness -- Mark Granovetter (summary of episode)

Coming soon! We will discuss Mark Granovetter's 1985 paper, "Economic Action and Social Structure: The Problem of Embeddedness." He argued that economic behavior is not the product of isolated rational calculations, nor is it fully determined by social norms. Instead, individuals are embedded in a complex network of relationships that simultaneously provides structure and allows for personal discretion.