Question

write a note on contemporary economic sociology in 100 words​

Answer 1

Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a contemporary one, known as "New economic sociology".

The classical period was concerned particularly with modernity and its constituent aspects, including rationalisation, secularisation, urbanisation, and social stratification. As sociology arose primarily as a reaction to capitalist modernity, economics played a role in much classic sociological inquiry. The specific term "economic sociology" was first coined by William Stanley Jevons in 1879, later to be used in the works of Émile Durkheim, Max Weber and Georg Simmel between 1890 and 1920.

Weber's work regarding the relationship between economics and religion and the cultural "disenchantment" of the modern West is perhaps most iconic of the approach set forth in the classic period of economic sociology.

Contemporary economic sociology may include studies of all modern social aspects of economic phenomena; economic sociology may thus be considered a field in the intersection of economics and sociology. Frequent areas of inquiry in contemporary economic sociology include the social consequences of economic exchanges, the social meanings they involve and the social interactions they facilitate or obstruct.

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Answer 2

Contemporary Economic Sociology means critical and contemporary issues in the sociology of economic life.

Explanation:

• Economic sociology  - Mark Granovetter coined the word or term economic sociologist
• The contemporary economic sociology analysis social and economic relations, power, agency and identity.
• These analysis are the new challenges for contemporary economic sociology.
• The contemporary economic sociology is related to the Macro Economics.
• The social study of the economy approaches the trans-national processes of social and economic restructuring.
• The contemporary economic sociology is based on Globalization, Production and Inequality.

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