Importance Of Economic Sociology
They are looking at how economic behavior differ over time or across nations and researching the variance that’s about social context as I mentioned previously. In researching different social processes, the three factors (power, institution and social network) always plays significant portion in shaping the economic behavior according to the Handbook of Economic Sociology.
First factor is power which shapes economic behavior. According to the Explorations in Economic Sociology, it acts as a strong company when manipulates to a small supplier, or acts as a strong industry shapes regulation and law to its own strength. This idea of structural theory of power was directly inherit from Marx 's ideas of capitalism. This theory describes the process of strong associations succeed in developing practices and favoring public policies that they are in their interest as being in the common interest. In a study of death markets, Roi Livne describes how symbolic of death play out in the financial markets and the process of policymaking, how corporation reconcile the meaning of death with profit-making, and how policymakers handles death’s symbolism when “formulating and promoting their agendas” (p.