"The Sociological Perspective on the Economy" by Smelser and Swedberg is about the scope of economic sociology. Economic sociology is defined by Weber and Durkheim, as the sociological perspective as applied to economics. Economic sociology is compared to mainstream economics and differences are noted. With economic sociology, all aspects are within a societal group. For example, economic action or constraint of action are within a social structure. For mainstream economics, actions result from rational assumption; market and economy are the basic references.
This chapter also reviews the contributions of major figures. The history of economic sociology includes the works of Weber and Durkheim, and Karl Marx. Marx, a materialist, offered ideas that are central to the evolution of social economics. His concepts offered insight into the internal dynamics for the rise and evolution of capitalism. Modern sociologists, Parsons and Smelser, observed the gulf between economics and sociology.
"Culture and Economy" by DiMaggio, offers additional information regarding economic sociology. The author states that generalization about culture and economy is fruitless; culture plays a variety of roles in economic life. It defines actors, institutions, means of action, and relationships. Culture complements and challenges economic reasoning and effects are ambiguous. Culture influences preferences, change and innovation within economic institutions.
The author refers to economic institutions with reference to production, exchange, and consumption. Literature on production included organizational cultures and routines such as managerial, and institutional legitimacy in industries and organizational systems; research on cross-national differences is also found. The study of exchange includes the culture of the market actors and on symbolic expressions. Consumption literature includes preference formation, tastes, and constitutio...