Economics simplifies and disembeds market participants to become applicable.

Evidence

“Performativity” is a helpful addition to economic sociology’s conceptual tool kit, and Callon has usefully shown the insights that can be gained by reversing the field’s normal approach: instead of showing how market participants are more complex and more embedded than economics assumes, show how economics and its associated practices simplify and disembed them to the extent that economics becomes applicable. Yet even here matters were not as straightforward as a simple reading of Callon would suggest. Economics indeed facilitated the emergence of deriva- distinction between economics as a “culture of representation” and “ordinary economic . — Donald MacKenzie & Yuval Millo, Constructing a Market, Performing Theory, 189

Categorization

• DEFINE: Captures the core substance of Callon’s performativity reversal — economics as disembedding practice.
• XREF: connects to: Money expands economic circles and individualizes participants simultaneously — Georg Simmel, on individuality and social forms_…, 664; Human cognitive limits make simplifying concepts and calculating devices constitutive of complex markets. — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 1195; Economic models are deliberately simplified representations enabling mathematical reasoning. — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 40 (+1 more)

Related

• Economic models are deliberately simplified representations enabling mathematical reasoning. (similarity 0.83)
• Economic action as distributed cognition is what makes embedded theory genuinely performative. (similarity 0.81)
• Human cognitive limits make simplifying concepts and calculating devices constitutive of complex markets. (similarity 0.81)
• Studying performativity forces attention to the very market objects economics analyzes. (similarity 0.81)
• Economic performativity rests on human cognitive limits and mutual susceptibility (similarity 0.80)
• Performativity analysis complements rather than replaces economic sociology’s embedding approach (similarity 0.79)
• Economics is effectively performative only when using it changes market outcomes. (similarity 0.79)
• Monetary and financial markets remain inseparable from the economy of regard (similarity 0.79)
• Economic theory and actual market practice cannot be radically separated in derivatives (similarity 0.79)
• The money economy makes social action approach pure objectivity (similarity 0.79)
• Money expands economic circles and individualizes participants simultaneously (similarity 0.79)
• Performativity claims must be distinguished from the market merely converging on a correct theory. (similarity 0.78)

Broader Connections

• Economic models are deliberately simplified representations enabling mathematical reasoning. #corroborates (0.85) — Donald MacKenzie, An Engine, Not a Camera, 40
• Human cognitive limits make simplifying concepts and calculating devices constitutive of complex markets. #expands (0.80) — Donald MacKenzie, An Engine, Not a Camera, 1195
• Economic rationality reduces individuals to obstacles in the production process #qualifies (0.75)
• Money expands economic circles and individualizes participants simultaneously #expands (0.72) — Georg Simmel, on individuality and social forms_…, 664