ABSTRACT
This chapter reviews the treatment of the professions in contemporary social science. It begins by discussing the current orthodoxy, which emphasizes their anticompetitive effects, and some of its recent critics. Our starting point is the sociological critique of utilitarianism, which remains the philosophical basis of most contemporary economics. The classic expression of this critique is to be found in Parsons's (1968) major work, The Structure of Social Action, first published in 1937. Parsons's model of restrained decision-making requires some means by which collectively-held value systems can be operationalized. Two broad categories of solution may be offered within the voluntaristic theory of action. Two broad categories of solution may be offered within the voluntaristic theory of action. The first involves the internalization of core values through agencies of moral socialization, especially education and religion. The second entails the policing of behaviour.
