Economic Sociology

1. Aysel Muradlı, Business Administration

2. Economic
Sociology
Economics
• Economics is
the social science
that analyzes
the production,
distribution,
and consumption of
goods and services.
Sociology
• Sociology is the
study of human
social relationships
and institutions.

3. Economic sociology studies both the social
effects and the social causes of various
economic phenomena.

4. The specific term "economic sociology" was
first coined by William Stanley Jevons in 1879.
Later it was used in the works of Emile
Durkheim, Max Weber and Georg Simmel.

5.  The role of interests and rationality in
economy
 The importance of social relations and social
institutions in economy
 The transition to capitalism and its effects on
markets
 The role of trust in economic life

6.  The classical
foundations of modern
economic sociology
 The relationship
between law and the
economy
 Entrepreneurship
 The social organization
of labor markets.

7. The field can be broadly divided into 2
periods:
Classical period
Contemporary period

8. The classical period was
concerned particularly
with modernity and its
constituent aspects
(rationalization,seculariza
tion, urbanization, social
stratification, and so on).

9. Modernity typically refers to a post-traditional,
post-medieval historical period, one marked by
the move from feudalism (or agrarianism) toward
capitalism, industrialization, secularization, ratio
nalization, the nation-state and its
constituent institutions and forms
of surveillance.
Rationalization refers to the replacement of
traditions, values, and emotions as motivators
for behavior in society with rational, calculated
ones.

10. Urbanization is the physical growth of urban
areas as a result of rural migration and even
suburban concentration into cities,
particularly the very large ones.
Social stratification is a concept involving the
"classification of people into groups based on
shared socio-economic conditions ... a
relational set of inequalities with economic,
social, political and ideological dimensions."

11. Secularization is the activity of changing
something (art or education or society or
morality etc.) so it is no longer under the
control or influence of religion.

12. 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). Marx's historical
materialism would attempt to demonstrate how
economic forces influence the structure of society on
a fundamental level. Émile Durkheim'sThe Division of
Labour in Society was published in 1922, whilst Max
Weber's Economy and Society was released in the
same year.

13. Main scholars of
this period:
Karl Marx, Emile Durkheim,
Max Weber
Other scholar
Alfred Marshal
Thorstein Veblen,
Vilfredo Pareto,
Joseph Schumpeter…

14. The contemporary period of economic sociology,
also known as new economic sociology, was
consolidated by the 1985 work of Mark
Granovetter titled "Economic Action and Social
Structure: The Problem of Embeddedness". These
works elaborated the concept of embeddedness,
which states that economic relations between
individuals or firms take place within existing social
relations (and are thus structured by these relations
as well as the greater social structures of which
those relations are a part).

15. Social network analysis has been the primary
methodology for studying this phenomenon.
Granovetter's theory of the strength of weak
ties and Ronald Burt's concept of structural
holes are two best known theoretical
contributions of this field.

16. A social network is a social structure made up
of a set of social actors (such as individuals
or organizations) and a complex set of
the dyadic ties between these actors. The
social network perspective provides a clear
way of analyzing the structure of whole social
entities. The study of these structures
uses social network analysis to identify local
and global patterns, locate influential entities,
and examine network dynamics.

17. Granovetter's paper "The Strength of Weak
Ties" is a highly influential sociology paper.
In marketing, information science, or
politics, weak ties enable reaching
populations and audiences that are not
accessible via strong ties.
The concepts and findings of this work were
later published in the monograph Getting A
Job.

19. Fred L. Block
James S. Coleman
Mark Granovetter
Harrison White
Paul DiMaggio
Joel M. Podolny
Richard Swedberg
Viviana Zelizer and
others.

20. Economic sociology is an attempt by
sociologists to redefine in sociological terms
questions traditionally addressed by
economists. It is thus 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.

21. 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.