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The way sociology frames the relation between formality and informality is not only complex and multifaceted, but has also evolved over time. This volume offers contributions by international authors that illustrate distinct types of theoretical framings and present various sites of inquiry. It proposes a typology comprising: the sociology of informally embedded formality, the sociology of formally embedded informality, the sociology of the interaction between formality and informality and the sociology of the emergence and transformation of formality and informality.

This book illustrates the applicability of the seminal and controversial metaphor of the "invisible hand" in modern sociological theory. It shows that sociologists have long been part of a field mainly associated with economists and political philosophers. Though unlike the framing that builds directly on Adam Smith, sociological theory focuses on undesirable and perverse outcomes. Furthermore, the sociological angle favors the explanation of invisible hand-like mechanisms as contingent upon social structures and broader processes. Thus, it goes beyond its classical formulation in terms of...