This fascinating volume offers a critique of recent institutional and cultural turns in heterodox economics and political economy. Using seven case studies as examples, the authors explore how research on sense- and meaning-making can deepen critical studies in political economy, illuminating its role in critiquing the specific categories, contradictions and crisis-tendencies of capitalism.Parts I and II provide a foundation in institutionalism, international political economy and historical semantics, before introducing an original account of sense- and meaning-making and its role in remaking social relations. This account connects the evolution of both economic and extra-economic concepts to dispositives (problem-oriented social fixes), institutions, and capitalist restructuring. In Parts III and IV, specific case studies demonstrate how this new research program can be applied to issues such as competitiveness, the knowledge-based economy, governmental technologies, institutional and spatio-temporal fixes and crisis management. Scholars and students of heterodox, cultural, political and institutional economics will find this book a comprehensive and illuminating addition to their libraries.

This book presents a detailed and critical account of the regulation approach in institutional and evolutionary economics. Offering both a theoretical commentary and a range of empirical examples, it identifies the successes and failures of the regulation approach as an explanatory theory, and proposes new guidelines for its further development. Although closely identified with heterodox French economists, there are several schools of regulation theory and the approach has also been linked to many topics across the social sciences. Bob Jessop and Ngai-Ling Sum provide detailed criticisms of the various schools of the regulation approach and their empirical application, and have developed new ways of integrating it into a more general critical exploration of contemporary capitalism. The authors go on to describe how the regulation approach can be further developed as a progressive research paradigm in political economy. Also presented is a detailed philosophical as well as theoretical critique of the regulation approach and its implications for the philosophy of social sciences and questions of historical analysis (especially periodization). Addressing the implications of the regulation approach for both the capitalist economy and the changing role of the state and governance, this book will be of great interest to a wide-ranging audience, including institutional and evolutionary economists, economic and political sociologists and social and political theorists.

This fascinating volume offers a critique of recent institutional and cultural turns in heterodox economics and political economy. Using seven case studies as examples, the authors explore how research on sense- and meaning-making can deepen critical studies in political economy, illuminating its role in critiquing the specific categories, contradictions and crisis-tendencies of capitalism.Parts I and II provide a foundation in institutionalism, international political economy and historical semantics, before introducing an original account of sense- and meaning-making and its role in remaking social relations. This account connects the evolution of both economic and extra-economic concepts to dispositives (problem-oriented social fixes), institutions, and capitalist restructuring. In Parts III and IV, specific case studies demonstrate how this new research program can be applied to issues such as competitiveness, the knowledge-based economy, governmental technologies, institutional and spatio-temporal fixes and crisis management. Scholars and students of heterodox, cultural, political and institutional economics will find this book a comprehensive and illuminating addition to their libraries.