W7.2 April 19 (Fri) - Song Seo Yoon

 1. Summary

Economic sociology is the study of the social effects of economic phenomena. It is divided into the classical and modern eras. In the classical era, the social effects of economic structure and institutions were mainly dealt with, and works by Weber and Zimmel played an important role. Modern economic sociology focuses on the social outcomes and interactions of economic exchange. It is a discipline located at the intersection of economics and sociology. The new economic sociology emphasizes the concept that economic relations between individuals or companies occur and are structured within a social structure, and social network analysis has emerged as an important methodology. This study encompasses various aspects of society. During the 20th century, economic sociology focused on mathematical analysis and utility maximization, but some criticized it for forgetting the nature of social science. Scholars such as Polanyi and Granoveter emphasize the intrinsic nature of the market and the importance of social networks, providing a framework for understanding the complex relationship between the economy and society.


2. what did I learn

Through this lecture, we learned that economic sociology is a study that understands and analyzes economic phenomena from a social perspective. It is divided into the classical and modern eras, and each era has slightly different themes and interests. In particular, in the classical era, the social impact of economic structure and institutions was mainly studied, and it was newly discovered that works such as Weber and Jimmel played an important role.

3. discussion/question

Polanyi's market skepticism has been criticized for deepening society's economicization rather than limiting it, what do you think about this?

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