Value is central to the market sectors of the contemporary economy, yet the best-established theories of value fail to expose how it operates and how it is manipulated for profit. This book begins to reconstruct the theory of value. In one sense, it argues, value is a personal assessment of worth, but those assessments draw deeply on normative standards. The book examines those standards and how they are formed, transformed and supported by the construction of new social structures. The em...

Our economy is neither overwhelmingly capitalist, as Marxist political economists argue, nor overwhelmingly a market economy, as mainstream economists assume. Both approaches ignore vast swathes of the economy, including the gift, collaborative and hybrid forms that coexist with more conventional capitalism in the new digital economy. Drawing on economic sociology, anthropology of the gift and heterodox economics, this book proposes a groundbreaking framework for analysing diverse economic...

'Social construction' is a central metaphor in contemporary social science, yet it is used and understood in widely divergent and indeed conflicting ways by different thinkers. Most commonly, it is seen as radically opposed to realist social theory. Dave Elder-Vass argues that social scientists should be both realists and social constructionists and that coherent versions of these ways of thinking are entirely compatible with each other. This book seeks to transform prevailing understandin...

The problem of structure and agency has been the subject of intense debate in the social sciences for over 100 years. This book offers a solution. Using a critical realist version of the theory of emergence, Dave Elder-Vass argues that, instead of ascribing causal significance to an abstract notion of social structure or a monolithic concept of society, we must recognise that it is specific groups of people that have social structural power. Some of these groups are entities with emergent ...