127: The Problem of Embeddedness -- Mark Granovetter (Part 2)

In Part 2 of the episode on Mark Granovetter's 1985 paper, "Economic Action and Social Structure: The Problem of Embeddedness," we consider the meaning of embeddedness in contemporary practical situations and the significant body of research that followed forty years later. His framework provides a more nuanced and realistic explanation of economic life, accounting for both the guiding influence of social contexts and the capacity of individuals to act independently when necessary.