The Role of Sociology in Shaping Fair Economic Solutions

Constantinos Challoumis

MPRA Paper from University Library of Munich, Germany

Abstract: Economic sociology has a theoretical approach which puts particular stress on markets as socially instituted mechanisms of coordination, and on the interaction taking place within the market and across the boundary between markets. The structural or network approach to the new economic sociology maintains that markets are productive fields of relations between many actors, who establish stable relations over time and with some selectivity of partners. There is a long interpretative tradition within sociology having roots in Weber’s concepts of action types and social relationship where the actions of the actor should be interpreted in terms of the subjective world of meanings. Economic sociology shares with neo-institutionalism the sociological critique of conventional, rational choice economics. From the sociological standpoint, the market is embedded in pre-existing social structures that shape and channel market transactions.

Keywords: economic solutions; sociology (search for similar items in EconPapers)
JEL-codes: Z0 Z1 (search for similar items in EconPapers)
Date: 2025-01-02
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