Economic sociology
From Wikipedia, the free encyclopedia
Economic sociology studies the social effects of economic phenomena, particularly with regard modernity and its constituent aspects (industrialisation, urbanisation, rationalisation, and so on). The term "economic sociology" was first coined by William Stanley Jevons in 1879, later to be used in the works of Emile Durkheim, Max Weber and Georg Simmel between 1890 and 1920.[1]
Contents |
[edit] Theory
Economic sociology arose as a new approach to the analysis of economic phenomena; emphasising particularly the role economic structures and institutions play upon society, and the influence a society holds over the nature of economic structures and institutions. The relationship between capitalism and modernity is a salient issue, perhaps best demonstrated in Weber's The Protestant Ethic and the Spirit of Capitalism (1905) and Simmel's The Philosophy of Money (1900). Economic sociology may be said to have begun with Tocqueville's Democracy in America (1835-40) and The Old Regime and the Revolution (1856).[2] Marx's historical materialism would attempt to demonstrate how economic forces influence the structure of society on a fundamental level. Emile Durkheim's The Division of Labour in Society was published in 1922, whilst Max Weber's Economy and Society was released in the same year.
Contemporary economic sociology focuses particularly on the social consequences of economic exchanges, the social meanings they involve and the social interactions they facilitate or obstruct. Influential figures in modern economic sociology include Fred L. Block, James S. Coleman, Mark Granovetter, Harrison White, Paul DiMaggio, Joel M. Podolny, Richard Swedberg and Viviana Zelizer in the United States, as well as Luc Boltanski, Laurent Thévenot, or Jens Beckert in Europe. To this may be added Amitai Etzioni, who has popularised the idea of socioeconomics, and Chuck Sabel and Wolfgang Streeck, who work in the tradition of political economy/sociology.
The focus on mathematical analysis and utility maximisation during the 20th century has led some to see economics as a discipline moving away from its roots in the social sciences. Many critiques of economics or economic policy begin from the accusation that abstract modelling is missing some key social phenomenon that needs to be addressed. In reply, many mainstream economists point out that such cultural and social arguments often seem to favour the interests of local monopolists and the already powerful.[citation needed]
Economic sociology is an attempt by sociologists to redefine in sociological terms questions traditionally addressed by economists. It is also an answer to attempts by economists (such as Gary Becker) to bring economic approaches - in particular utility maximisation and game theory - to the analysis of social situations that are not obviously related to production or trade. Karl Polanyi, in his book The Great Transformation, was the first theorist to come up with the idea of the "embeddedness", meaning that the economy is "embedded" in social institutions which is vital so that the market does not destroy other aspects of human life.
[edit] Marxist sociology
Modern Marxist thought has focused on the social implications of consumerism (or "commodity fetishism") and economic development within the system of economic relations that produce them. Important theorists include Georg Lukács, Theodor Adorno, Max Horkheimer, Walter Benjamin, Guy Debord, Louis Althusser, Nicos Poulantzas, Ralph Miliband, Jürgen Habermas, Raymond Williams, Fredric Jameson, Antonio Negri, and Stuart Hall.
[edit] Socioeconomics
Economic sociology is sometimes synonymous with socioeconomics. In most cases, however, socioeconomists focus on the social impact of very specific economic changes, such as the closing of a factory, market manipulation, new natural gas regulation, and so on.
[edit] See also
- Important publications in economic sociology
- Political sociology
- Behavioral economics
- Cultural economics
- Economic anthropology
- Institutionalism
- Institutional economics
- Macroeconomics
- Political economy
[edit] References
- ^ "Principles of Economic Sociology by Richard Swedberg - An extract". http://press.princeton.edu/chapters/s7525.html. Retrieved 2009-12-02.
- ^ "Principles of Economic Sociology by Richard Swedberg - An extract". http://press.princeton.edu/chapters/s7525.html. Retrieved 2009-12-02.
[edit] Reading list
- Peter Hedström and Charlotta Stern (2008). "rational choice and sociology," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
- Richard Swedberg (2008). "economic sociology," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
