The contemporary economy is primarily understood through the rationalist and formalist lenses of economic theory and its accompanying (mainstream) theories of organisation and management. In this corpus of work, the economy is commonly portrayed as emerging on the basis of the calculated and instrumental use of heterogeneous resources. Innovation, the capacity to produce new goods and services, being of key importance in a competitive capitalist economic regime, is a joint, collaborative process embedded in social action (ie: through forms of agency). In contrast to individualist, calculative, and utilitarian images of economic agency, sociologists, historians, anthropologists, and others have demonstrated that economic agency is determined in many cases by social and cultural conditions that extend beyond the narrow sphere of instrumental economic behaviour. A social theory of innovation...
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