Economic sociology is a subfield of sociology that studies the social and cultural aspects of economic life. It investigates how social relations, cultural values, and institutional structures shape economic behavior and outcomes. Economic sociology focuses on the social embeddedness of economic systems and processes, and how they are influenced by and, in turn, shape social relations.
Some of the key tendencies in economic sociology include:
- Institutionalism: This perspective emphasizes the importance of social institutions, such as laws, norms, and rules, in shaping economic behavior and outcomes. Institutionalism examines how institutions are created, how they change over time, and how they shape economic processes and outcomes.
- Network analysis: This approach looks at the social networks that connect economic actors, such as firms, markets, and individuals. It explores how network structures affect economic behavior and outcomes, such as the spread of information and the formation of trust.
- Cultural analysis: This perspective examines the role of cultural values, beliefs, and practices in shaping economic behavior and outcomes. It explores how cultural norms influence economic processes, such as consumption patterns and investment decisions.
- Globalization: Economic sociologists also study the processes of economic globalization, including the spread of transnational corporations, global financial networks, and international trade agreements. They examine the social and cultural effects of globalization on local economies, communities, and cultures.
- Critical political economy: This approach examines the political and power relations that shape economic processes and outcomes. It looks at how power and inequality influence economic outcomes, and how economic processes are used to maintain and reinforce power structures.
The tendencies of economic sociology are not mutually exclusive, and many economic sociologists draw on multiple approaches and theories to understand economic behavior and outcomes. It can differ between the private sector and the government due to their different roles and objectives. Here are some examples:
| Private Sector | Government |
| 1. Market-oriented institutionalism: In the private sector, there is a tendency to focus on the institutional structures of markets and competition, as well as the legal and regulatory environment that governs them. Market-oriented institutionalism examines how these institutions shape the behavior of firms and individuals in the market. 2. Network analysis: Private firms often use network analysis to better understand their customers and suppliers. They may also use social network analysis to identify key players in the market and build relationships with them. 3. Organizational analysis: Economic sociology can be applied to the analysis of firms and organizations in the private sector. Organizational analysis examines how organizational structures and culture affect economic behavior and outcomes. | 1. Critical political economy: In the government, there is a tendency to examine the power relations that shape economic outcomes, particularly with respect to economic policies and regulations. Critical political economy examines how economic policies and regulations are shaped by political and social factors, and how they impact different groups in society. 2. Institutional analysis: Governments may use institutional analysis to examine the institutional structures of markets and competition, as well as the legal and regulatory environment that governs them. This can inform policies aimed at promoting competition and protecting consumers. 3. Globalization: Governments may also focus on the effects of economic globalization on local economies and communities. They may examine how globalization affects employment, income inequality, and social welfare, and develop policies to mitigate negative effects. |
Overall, economic sociology can be applied to both the private sector and the government to understand how social and cultural factors shape economic behavior and outcomes. However, the specific tendencies and approaches used may differ depending on the context and objectives of each sector.
Example:
A review about how social and professional relationships interact, and impact business. Let’s check how sociological aspects influence financing firms and governments.
Main questions to think about (focused in Peru):
- The role of social networks in supporting innovation activities.
- What is the role of family in funding the start up of firms in Peru and Latin America?
- The private network as the facilitator of the firm start-up in Peru.
- Is trust and power any different in local productive systems in Peru?
- The evolution of the role of family in Peruvian traditional sectors.
- Can cultural mix increase productivity in creative industries? Evidence from Latin America.
- The role of social capital in rural places in Cusco.
- Is social capital a critical factor in the Peruvian creative industries?
- Can the university network contribute to entrepreneurial action in Cusco?
- Social entrepreneurship in Peru.
