Jukka Gronow’s book Deciphering Markets and Money solves the problem of the specific social conditions of an economic order based on money and the equal exchange of commodities. Gronow scrutinizes the relation of sociology to neoclassical economics and reflects on how sociology can contribute to the analyses of the major economic institutions. The question of the comparability and commensuration of economic objects runs through the chapters of the book.
The author shows that due to the multidimensionality and principal quality uncertainty of products, markets would collapse without market devices that are either procedural, consisting of technical standards and measuring instruments, or aesthetic, relying on the judgements of taste, or both. In his book, Gronow demonstrates that in this respect, financial markets share the same problem as the markets of wines, movies, or PCs and mobile phones, and hence offer a highly actual case to study their social constitution in the process of coming into being.
Jukka Gronow is professor emeritus of sociology at Uppsala University, Sweden. He has published on sociology of consumption, history of sociology and social theory.
"This is a deeply considered and important contribution which challenges the dominance of economics in political life by providing a fresh sociological analysis of money, markets and other modern economic institutions."
- Professor Alan Warde, The University of Manchester, UK
"In this highly relevant book, Jukka Gronow offers an analysis of the core institutions of the economy, market and money. By scholarly grounded analysis, in which Gronow draws on a broad knowledge of classic and modern research, the book highlights the trend of anesthetization of life and its important role for the economy. The excellent book is as useful in economic sociology classes as it is for scholars interested in the economic phenomena."
- Professor Patrik Aspers, University of St. Gallen, Switzerland
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Summary: To conclude, the volume is a useful reference to understand relationships between economics and sociology and to draw connections between classical and contemporary theories in economic sociology concerning the central question of comparability and commensuration of goods in markets.
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Summary: Sosiologian professori emeritus Jukka Gronow on julkaissut taloussosiologian perusteoksen, joka voidaan nähdä Richard Swedbergin (2009) teoksen Principles of Economic Sociology jatko-osana. Osittain teos käsittelee samoja teemoja, mutta ottaa selkeästi uudempaa tutkimusta mukaan. Teoksessa on myös erilainen ote talouteen. Sitä voidaan pitää dialogina taloustieteen kanssa siitä, miten yhteismitallisuuden ongelma (commensuration) voidaan ratkaista. Kirja on tervetullut ja perusteellinen lisäys taloussosiologian kirjallisuuteen, erityisesti siksi, että Gronow käsittelee ansiokkaasti rahan, arvon ja rahan arvon ilmiöitä. Teoksella on annettavaa niin opiskelijoille kuin varttuneille taloussosiologian asiantuntijoille. Tämän ydinyleisön ohella kirja on tärkeää lukemista myös taloustieteen tutkijoille ja päätöksentekijöille.
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Gronow, J. 2020. Deciphering Markets and Money: A Sociological Analysis of Economic Institutions. Helsinki: Helsinki University Press. DOI: https://doi.org/10.33134/HUP-1
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Published on Feb. 3, 2020