Tom R. Burns

“In sum, social actors knowledgeably and actively use, interpret and implement rule systems. They also creatively reform and transform them. In such ways they bring about institutional innovation and transformation and shape the ‘deep structures’ of human history.”

“Markets are social organizations, structured and regulated by more or less well-defined social rule systems.”

“There are two basic ways market organization is brought about... Some combination of the two is usual the case:”

“In the most abstract sense, a system is a set of objects together with relationships among the objects. Such a definition implies that a system has properties, functions, and dynamics distinct from its constituent objects and relationships.”

“Functionalist systems theories. The theorists in this tradition explain the emergence and/or maintenance of parts, structures, institutions, norms or cultural patterns of a social system in terms of their consequences, that is, the particular functions each realizes or satisfies. This includes, for instance, their contribution to the maintenance and reproduction over time of the larger system. The major functionalist in sociology is arguably Talcott Parsons.”

“Historical, political economic systems theory. The Marxian approach to system theorizing clearly points us to sociologically important phenomena: the material conditions of social life, stratification and social class, conflict, the reproduction as well as transformation of capitalist systems, the conditions that affect group mobilization and political power, and the ways ideas functions as ideologies.”

“Among other related major developments, world systems theory (Wallerstein 2004) should be mentioned. Inspired by Marxist theories, it addresses dependency among nations and imperialism, placing the evolution of capitalist systems in a global and comparative perspective. Another variant of Marxist system theory is that of Pierre Bourdieu (1977) which unifies the material and the symbolic, as well as agency and structure.”