Publisher
Springer Science and Business Media LLC
Subject
Law,Political Science and International Relations,Business and International Management
Reference116 articles.
1. For the origin of this concept, see Karl Polanyi, The Great Transformation: The Political and Economic Origins of Our Time (New York, 1944). It was subsequently further elaborated with a focus on networks by Mark Granovetter, ‘Economic Action and Social Structure: The Problem of Embeddedness’, 91 American Journal of Sociology (1985) p. 481; and Mark Granovetter, ‘The Impact of Social Structure on Economic Outcomes’, 19 J. Econ. Persp. (2005) p. 33). Critical of the concept is Jens Beckert, The Great Transformation of Embeddedness: Karl Polanyi and the New Economic Sociology, Max Planck Institute for the Study of Societies, Discussion Paper 07/1 (2007), who reads ‘The Great Transformation’ as ‘as a social theory’ and argues that a focus on networks fails to appreciate the more complexly structured market as framework of economic activity, on the one hand, and to address Polanyi’s concern with the consequences for ‘social order and political freedom when economic exchange is organized chiefly through self-regulating markets’, on the other. Ibid., at p. 17.
2. Sanford M. Jacoby, The Embedded Corporation: Corporate Governance and Employment Relations in Japan and the United States (Princeton, Princeton University Press 2004).
3. Granovetter (1985), loc. cit. n. 1, at p. 501: ‘When many employees have long tenures, the conditions are met for a dense and stable network of relations, shared understandings, and political conditions to be constructed.’
4. See, e. g., Mark J. Roe, ‘Some Differences in Corporate Structure in Germany, Japan, and the United States’, 102 Yale. L. J. (1993) p. 1927. With a view to the changing dynamics of the political economy of such regulations, see Luke Nottage, ‘Japanese Corporate Governance at a Crossroads: Variation in Varieties of Capitalism’, 27 North Carolina Journal of International Law and Commercial Regulation (2001) p. 255; Luke Nottage, ‘Nothing New in the North-East? Interpreting the Rhetoric and Reality of Japanese Corporate Governance’, 2 CLPE Research Paper Series (2007), available at: http://www.comparativeresearch.net; William Lazonick, ‘The Japanese Economy and Corporate Reform: What Path to Sustainable Prosperity?’, in William Lazonick and Mary O’Sullivan, eds., Corporate Governance and Sustainable Prosperity (London/Basingstoke, Palgrave MacMillan 2002) p. 226.
5. Ibid., at p. 11.
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