Thus, this book proceeds from a microperspective and uses action theory as its starting point. Any approach to capitalist dynamics that includes the openness of the future must proceed from the social interactions that take place in the economy. An analysis of imagined futures as a force in capitalist dynamics focuses on the social interactions that underlie both the buoyant expansion and sudden crises of capitalist economies.
The future enters social interactions through perceptions of the social world, which are anchored in actors, even if these perceptions are socially shaped and should thus not be understood in purely individualistic terms. Laying the microfoundations for an understanding of capitalist dynamics is an interpretative approach that makes it possible to bring economic sociology and political economy into closer dialogue with one another, using instruments primarily developed in the field of sociology to explore a question that has in current scholarship been addressed mostly by political economists.
This implies that the book sympathizes with endeavors in economics and political science that attempt to discern the microfoundations of macroeconomic processes. However, economic macrodevelopment and capitalist dynamics cannot be explained by approaches rooted in rational actor theory. The assumption that decisions in economic contexts may be understood as rational calculations based on full knowledge of all (available) information has been broadly criticized.