Sociological exchange theory failed by abandoning micro-macro transition and importing ad hoc principles.

Evidence

One was the limitation to microsocial relations, which abandons the principal virtue of economic theory, its ability to make the micro-macro transition from pair relations to system. … The other was the attempt to introduce principles in an ad hoc fashion, such as “distributive justice” (Homans 1964, p. 241) or the “norm of reciprocity” (Gouldner 1960). The former deficiency limits the theory’s usefulness, and the latter creates a — Coleman, SocialCapitalCreation-1988, 37

Categorization

• XREF: Worth noting how Coleman positions social capital as the theory that rescues economic theory’s micro-macro capacity from exchange theory’s failures over pair relations, pairing with Granovetter’s weak-tie bridging of micro and macro. — connects to: Sociology’s method-driven path has failed to deliver its Enlightenment promises; Western Marxism failed as a total theory of liberation; Abstracted theory that loses local situatedness betrays Cultural Studies’ core method. (+2 more)

Broader Connections

• Sociology’s method-driven path has failed to deliver its Enlightenment promises #expands (0.82)
• Abstracted theory that loses local situatedness betrays Cultural Studies’ core method. #exemplifies (0.80)
• Social reproduction thinking revives domains Marxist base-superstructure theory had reduced away #complicates (0.78)
• Western Marxism failed as a total theory of liberation #exemplifies (0.75)
• Clozel’s traditionalist reforms failed by ignoring irreversible social change #exemplifies (0.75)