Economic sociology is the study of the social causes and social effects of

various economic phenomena.

LEARNING OBJECTIVE[ EDIT ]

Examine the two periods of economic sociology - classical and contemporary - and the
difference between economic sociology and socioeconomics

KEY POINTS[ EDIT ]

o
Economic sociology is the study of the social causes and social effects of various
economic phenomena. This is distinguishable from the field of socioeconomics, which focuses
on the social impact of very specific economic changes.
o
Many classical sociologists, from mile Durkheim to Georg Simmel, include
economic analyses in their texts. Max Weber's book The Protestant Ethic and
the Spirit of Capitalism is the archetypical representation of the works of economic sociology's
classical period.
o
Contemporary economic sociology emphasizes the social consequences of economic
exchanges, the social meanings they involve, and the social interactions that they facilitate or
obstruct.
o
Some economic sociologists provide a social explanation to questions traditionally
addressed by economists. However, other contemporary economic sociologists have forged
different research programs based on new questions and new methods.

TERMS[ EDIT ]

The Protestant Ethic and the Spirit of Capitalism

The Protestant Ethic and the Spirit of Capitalism is a book written by Max Weber, a German
sociologist, economist, and politician. Begun as a series of essays, the original German text was
composed in 1904 and 1905, and was translated into English for the first time by Talcott Parsons
in 1930. It is considered a founding text in economic sociology and sociology in general.

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

Economic sociology is the study of the social causes and social effects of various economic
phenomena. This is distinguishable from the field of socioeconomics, which focuses on the social
impact of very specific economic changes, such as the closing of a factory, market manipulation, or
new policies that impact the economy of a very specific locale or population. The field of economic
sociology can be broadly divided into a classical period and a contemporary period.

Sociology came of age in the late nineteenth century, at the same time as capitalism and modernity
were taking root. The classical period was concerned particularly with modernity and its
phenomenological progeny, such as rationalization, secularization,urbanization, and social
stratification. Thus, many classical sociologists, from mile Durkheim to Georg Simmel, include
economic analyses in their texts. Max Weber's book The Protestant Ethic and the Spirit of
Capitalism is the archetypical representation of the works of economic sociology's classical period .
Published in 1905, Weber argues that capitalism flourished in northern Europe because of a
preexisting religious ethic that encouraged dedication and hard work in the course of proving oneself
worthy of salvation. The Protestant Ethic and the Spirit of Capitalismis representative of
classical economic sociology in that it uses sociological data onreligion to explain the economic
phenomenon of northern Europe's embrace of capitalism.
Contemporary economic sociology emphasizes the social consequences of economic exchanges, the
social meanings they involve, and the social interactions that 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 Thvenot, or Jens Beckert in Europe, among many
others. In some cases, contemporary economic sociology borrows mathematical tools and
economictheories such as utility maximization and game theory. Some economic sociologists
provide a social explanation to questions traditionally addressed by economists. However, other
contemporary economic sociologists have forged different research programs based on new
questions and new methods.