This paper addresses the problem of the conceptualization of social structure and its relationship to human agency in economic sociology. The background is provided by John Maynard Keynes's writings on uncertainty and conventional behavior on the stock market, and the analysis consists of a...

This article examines the question of whether social institutions should be treated as possessing the "sui generis" causal power to influence people's actions. It does so by means of a case study of the work of the Austrian economist Ludwig Lachmann. Lachmann's account of how social institutions...