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Bourdieu's work attempts to reconcile structure and agency, as external structures are internalized into the habitus while the actions of the agent externalize interactions between actors into the social relationships in the field. Bourdieu's theory, therefore, is a dialectic between "externalizing the internal", and "internalizing the external".
The theory of the firm consists of a number of economic theories that explain and predict the nature of the firm, company, or corporation, including its existence, behaviour, structure, and relationship to the market. [1] Firms are key drivers in economics, providing goods and services in return for monetary payments and rewards.
The most influential attempts to combine the concept of social structure with agency are Anthony Giddens' theory of structuration and Pierre Bourdieu's practice theory. Giddens emphasizes the duality of structure and agency, in the sense that structures and agency cannot be conceived apart from one another.
The theory of structuration is a social theory of the creation and reproduction of social systems that is based on the analysis of both structure and agents (see structure and agency), without giving primacy to either. Furthermore, in structuration theory, neither micro- nor macro-focused analysis alone is sufficient
The approach "rejects the old dichotomies – between agency and structure, between ideas and material interests, and between states and markets". [8] The approach seeks to make explicit the normative assumptions that lie behind its analysis, and to be a "hosting metaphor" that will encourage political debate about societal preferences.
The basis of the duality lies in the relationship the agency has with the structure. In the duality, the agency has much more influence on its lived environment than past structuralist theory had granted. The key to Giddens' explanation is his focus on the knowledgeability of the agent and the fact that the agency cannot exist or be analysed ...
An economic system, or economic order, [1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.
One's agency is one's independent capability or ability to act on one's will. This ability is affected by the cognitive belief structure which one has formed through one's experiences, and the perceptions held by the society and the individual, of the structures and circumstances of the environment one is in and the position one is born into.