Die sittliche Einbettung der Wirtschaft. Von der Effizienz- und Differenzierungstheorie zu einer Theorie wirtschaftlicher Felder

The economy of modern societies does not simply operate according to its own inherent laws, but is anchored in a moral and institutional order, interests, and in social power. Upon what theoretical basis can the morality of the economy be described? By critically reflecting on mainstream neoclassical economics, the paper argues that it is the normative character of neoclassical theory which stands in the way of improving our understanding of the normative foundations of the economy. It would be wrong, however, to think that sociology necessarily offers a more adequate alternative. Neither functionalist theories of social differentiation nor certain strands of the new economic sociology are up to the challenge. Using the toolkit provided by the theory of social fields seems to be a more promising way to investigate economic structures.