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Encyclopedia > Economic sociology

Economic sociology may be defined as the sociological analysis of economic phenomena. As the earliest economists recognised, economic institutions are of profound importance to society as a whole and the social context affects the nature of local economic institutions. Karl Marx argued that economic forces were absolutely central to society and deeply influenced its social structures. The founding figures of sociology, such as Max Weber, similarly regarded economic processes as fundamental to the structure of society. Georg Simmel, particularly in his book "Philosophy of Money", was important in the early development of economic sociology, as was Emile Durkheim through "Division of Labor". Other important early contributions to economic sociology were made by people who are more usually thought of as economists, e.g. Thorstein Veblen and Joseph Schumpeter. Economists are scholars conducting research in the field of economics. ... Marxs view of history, which came to be called the materialist interpretation of history (and which was developed further as the philosophy of dialectical materialism) is certainly influenced by Hegels claim that reality (and history) should be viewed dialectically, through a clash of opposing forces. ... Maximilian Weber (April 21, 1864 – June 14, 1920) was a German political economist and sociologist who is considered one of the founders of the modern, antipositivistic study of sociology and public administration. ...


Later Marxist and other left-wing economic thought has focused on the social implications of consumerism and economic development within the system of economic relations that produce them. Marxism is the political practice and social theory based on the works of Karl Marx, a 19th century philosopher, economist, journalist, and revolutionary, along with Friedrich Engels. ... Consumerism is a term used to describe the effects of equating personal happiness with purchasing material possessions and consumption. ... This article needs to be cleaned up to conform to a higher standard of quality. ...


Current 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 Mark Granovetter, Harrison White, Richard Swedberg and Viviana Zelizer. 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. Mark Granovetter is a sociologist who gave some of the most influential theories in modern sociology, since the 1970s. ... Viviana Zelizer - Wikipedia /**/ @import /skins-1. ... Amitai Etzioni (Born Werner Falk 4 January 1929 in Cologne, Germany) is an American sociologist, famous for his work on communitarianism. ...


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. In economics, utility is a measure of the happiness or satisfaction gained from a good or service. ... (19th century - 20th century - 21st century - more centuries) Decades: 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s 1980s 1990s As a means of recording the passage of time, the 20th century was that century which lasted from 1901–2000 in the sense of the Gregorian calendar (1900–1999 in the... This article is about economic monopoly. ...


Economists have also attempted 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. This remains an active area of research, controversial both amongst economists and other social sciences. Game theory is a branch of applied mathematics that studies strategic situations where players choose different actions in an attempt to maximize their returns. ...


See also

  • Important publications in economic sociology

  Results from FactBites:
 
Economic sociology - Wikipedia, the free encyclopedia (372 words)
Economic sociology may be defined as the sociological analysis of economic phenomena.
As the earliest economists recognised, economic institutions are of profound importance to society as a whole and the social context affects the nature of local economic institutions.
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.
  More results at FactBites »

 
 

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