By Sandro Segre
Ethical financial system, as a collection of ideas which control industry transactions, has been the item of a lot study and debate, either lately and among classical sociological authors. Weber particularly tested the principles of the ethical economic climate within the monetary markets, and this quantity sheds gentle on his contribution to the topic.
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Additional resources for A Weberian Analysis of Business Groups and Financial Markets
They are not mutually exclusive as historical periods, however. ” In fact, “the essence of both Gemeinschaft and Gesellschaft is found interwoven in all kinds of association” (Toennies 1955. See also Cahnman 1995: 191–6; Donati 1988: 229–32). The transition from predominantly Gemeinschaftlike Middle Ages to “increasingly Gesellschaft-like oriented” modern centuries has been brought about above all by trade, and capitalism in general, but it has not been, nor will it ever be, completed (Cahnman 1995: 95–8).
Rather than by solidarity, which may also be found in associations, a community is characterized by the presupposition of general compliance with these unwritten norms (Weber 1973: 446, 450– 53, 456–8, 463–4, 470; see also Ferrara 1996: 610; Holton, Turner 1989: 57, 109–10). According to Weber, the market as an ideal type is an important instance both of a communitarian relationship based on consensual action (in the previously mentioned sense), and of an association (for a different interpretation, which stresses the continuity between Toennies’s and Weber’s conceptions, see Holton, Turner 1989: 138–9, 184).
Economic Communities, Business Milieux and Business Groups 31 Likewise, it is difﬁcult to understand how a pre-capitalistic cultural tradition may support capitalistic practices and normative orientations, which do not only assume that contracts are observed regardless of one’s personal relations, but also the enforcement of a generalized reciprocity principle between the parties, although circumscribed to a particular organizational population, as that of Taiwan. As a matter of fact, as the authors themselves point out (Feenstra, Hamilton 2006: 334–5), a nonnegligible number of Taiwanese entrepreneurs have established, since the early 1990s, a very competitive industry of electronic products, particularly laptop computers, which operates in cooperation with local component producers and puts personal relations to good use for this purpose, but also makes use of training and professional expertise achieved in the United States and in other developed capitalist countries.