The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Economic Sociology

  • Richard Swedberg
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2111

Abstract

The term ‘economic sociology’, used primarily by sociologists, is defined as the application of sociological concepts and methods of analysis to economic phenomena. Founded by Durkheim, Weber, and Simmel, and continued by Schumpeter and Polanyi, it began to flourish in the mid-1980s around the notion that economic actions are embedded in personal networks. The concept of networks and other concepts and perspectives from ‘new economic sociology’ facilitate the analysis of topics like the links between corporations and between firms, job search, production markets, finance markets, insurance markets, industrial markets, consumption, and ethnic entrepreneurship. Its long-term impact on economics remains uncertain.

Keywords

Becker, G Capitalism Weber on Polanyi on Coase, R Division of labour Smith vs Durkheim on Durkheim, E Economic sociology Emotions Entrepreneurship Ethnic And immigration Forced Granovetter, M Immigration And ethnic entrepreneurship Jevons, S Marx, K Networks Strong vs weak ties And job search And consumption And groups of firms New Institutional Economics Parsons, T Polanyi, K On capitalism Schumpeter, J On social economics; Simmel, G On trust Smith, A Trust Simmel on Weber, M On capitalism 

JEL Classifications

Z1 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Richard Swedberg
    • 1
  1. 1.