Table Of Content

‘If modern economics and philosophy are largely neglectful of ontology, they are especially so of social ontology. Tony Lawson’s impressive body of work is an exception to this, as is this strongly recommended book.’ John B. Davis, Professor Emeritus of Economics, Marquette University and University of Amsterdam ‘Society needs innovative, critical thinking which enlightens on the com- plex and evolving nature of social reality, not least its economic aspects. Tony Lawson latest contribution on this is a must-read.’ Sheila Dow, Emeritus Professor of Economics, University of Stirling ‘As is universally, and rightly, recognised, Tony Lawson is the leading scholar questioning the (social) ontology of economics. In this compelling volume, he takes a number of important steps forward, drawing on the more constructive aspects of his work in theorising such topics as money, the modern corporation, and alternative futures.’ Ben Fine, Professor of Economics, School of Oriental and African Studies, University of London ‘The Nature of Social Reality is the book that we have all been waiting for: a rigorous philosophical account of social reality, written by a scholar with impeccable credentials as an economist and social theorist. In an intel- lectual environment in which philosophers are becoming increasingly interested in the nature of social phenomena (and contemporary social scientists have growing cause to examine their implicit philosophical commitments), Tony Lawson has delivered an invaluable resource at the perfect moment.’ Ruth Groff, Political Science, Saint Louis University ‘When one thinks of Cambridge social ontology, one thinks of Tony Law- son, long the leader of that important current. It is very welcome therefore to have this collection of essays. Those unfamiliar with Lawson’s work will encounter one of the most forceful and influential statements on the nature of social reality to emanate from modern economics. Those already familiar will find their understanding deepened.’ Doug Porpora, Professor of Sociology, Drexel University ‘In this splendid book, the philosopher-economist Professor Tony Lawson makes a powerful case for placing economics, and indeed all social theorising, on proper ontological foundations. An essential read for all social scientists.’ Lord Robert Skidelsky, Emeritus Professor of Political Economy, Warwick University The Nature of Social Reality The social sciences often fail to examine in any systematic way the nature of their subject matter. Demonstrating that this is a central explanation of the widely acknowledged failings of the social sciences, not least of modern economics, this book sets about rectifying matters. Providing an account of the nature of social material in general, as well as of the specific natures of central components of the modern world, such as money and the corporation, Tony Lawson also considers the impli- cations of this theory regarding possibilities for social change. Readers will gain an understanding of how social phenomena, from tables and chairs, to money and firms, and nurses and presidents are constituted. Fundamental to Lawson’s conception is a theory of community-based social positioning, whereby people and things within a community become constituted as components of emergent totalities, with actions governed by the rights and obligations of relevant members of the community. This theory isolates a set of basic principles that will offer the reader an understanding of the natures of all social phenomena. The Nature of Social Reality is for anyone who wishes to gain a grasp of the nature of social phenomena that goes beyond the superficial. Tony Lawson is Professor of Economics and Philosophy at the Univer- sity of Cambridge, UK. He is also a co-editor of the Cambridge Journal of Economics and co-founder of the Cambridge Realist Workshop and the Cambridge Social Ontology Group. Economics as Social Theory Series edited by Tony Lawson, University of Cambridge Social Theory is experiencing something of a revival within economics. Critical analyses of the particular nature of the subject matter of social studies and of the types of method, categories and modes of explanation that can legitimately be endorsed for the scientific study of social objects are re-emerging. Economists are again addressing such issues as the re- lationship between agency and structure, between economy and the rest of society, and between the enquirer and the object of enquiry. There is a renewed interest in elaborating basic categories such as causation, com- petition, culture, discrimination, evolution, money, need, order, organisation, power probability, process, rationality, technology, time, truth, uncertainty, value etc. The objective for this series is to facilitate this revival further. In contemporary economics the label ‘theory’ has been appropriated by a group that confines itself to largely asocial, ahistorical, mathematical ‘modelling’. Economics as Social Theory thus reclaims the ‘Theory’ label, offering a platform for alternative rigorous, but broader and more critical concep- tions of theorising. 47. Markets Perspectives from Economic and Social Theory William A. Jackson 48. Keynes Against Capitalism His Economic Case for Liberal Socialism James Crotty 49. The Nature of Social Reality Issues in Social Ontology Tony Lawson For more information about this series, please visit: https://www. routledge. com/Economics-as-Social-Theory/book-series/EAST. The Nature of Social Reality Issues in Social Ontology Tony Lawson First published 2019 by Routledge 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN and by Routledge 52 Vanderbilt Avenue, New York, NY 10017 Routledge is an imprint of the Taylor & Francis Group, an informa business © 2019 Tony Lawson The right of Tony Lawson to be identified as author of this work has been asserted by him in accordance with sections 77 and 78 of the Copyright, Designs and Patents Act 1988. All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. Trademark notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe. British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging-in-Publication Data Names: Lawson, Tony, 1950– author. Title: The nature of social reality / Tony Lawson. Description: 1 Edition. | New York : Routledge, 2019. | Series: Economics as social theory | Includes bibliographical references and index. Identifiers: LCCN 2019001602 (print) | LCCN 2019005067 (ebook) | ISBN 9780429199035 (Ebook) | ISBN 9780367188894 (hardback : alk. paper) | ISBN 9780367188931 (pbk. : alk. paper) | ISBN 9780429199035 (ebk) Subjects: LCSH: Sociology. Classification: LCC HM585 (ebook) | LCC HM585 .L3895 2019 (print) | DDC 301—dc23 LC record available at https://lccn.loc.gov/2019001602 ISBN: 978-0-367-18889-4 (hbk) ISBN: 978-0-367-18893-1 (pbk) ISBN: 978-0-429-19903-5 (ebk) Typeset in Palatino by codeMantra For Heather Contents Preface and acknowledgements xi PART 1 Setting the context 1 1 Why social ontology? 3 PART 2 A general conception 29 2 Ontology and the study of social reality: emergence, organisation, community, power, social relations, corporations, artefacts and money 31 PART 3 Topics in scientific ontology 83 3 The nature of the firm and peculiarities of the corporation 85 4 The modern corporation: the site of a mechanism (of global social change) that is out of control? 125 5 A theory of money 155 6 The positioning and credit theories of money compared 166