Financialization, Fields, and Change

  • Philipp Golka


In this chapter, Golka develops his theoretical argument on the use of field theory for the study of financialization processes. Golka compares the explanatory horizon of prominent sociological field theories, particularly neo-institutional theories and Fligstein and McAdam’s strategic action fields theory, for the case of financialization. His analysis reveals the merits of strategic action fields theory over other field theories, but also shows how its lack of a mechanism to explain the emergence of cooperative ties as a result of skilled social action severely constrains the theory’s explanatory potential. To address this void, Golka draws on recent theorizing of pragmatist mechanisms.


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Authors and Affiliations

  • Philipp Golka
    • 1
  1. 1.Sociology of Markets, Organizations and GovernanceFriedrich Schiller University JenaJenaGermany

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