The New Economic Sociology

"This volume shows how constructive intellectual dialogue among representatives of diverse perspectives yields scientific progress. Like tributaries feeding a river, the new economic sociology draws on multiple independent sources-the subfields of organizations, work and occupations, gender, social stratification, culture, networks, and more. Scholars from these areas are forging the new economic sociology as they listen to one another and take each other's work into account. The New Economic Sociology demonstrates that the future of the field depends on intensifying this dialogue, creating a multi-theoretical and multi-method approach to the sociological study of economic phenomena."
-WAYNE E. BAKER, professor of organizational behavior, professor of sociology, and director, Center for Society and Economy, University of Michigan Business School

"The editors are to be commended for assembling such a stimulating mixture of papers. They showcase the diverse topics and varied approaches taken in economic sociology, from thoughtful overviews, through detailed empirical studies, to passionate polemics. There is something here for everyone."
-BRUCE G. CARRUTHERS, professor and graduate director, Department of Sociology, Northwestern University

"A rich and wide-ranging collection of key lines of research in economic sociology by many of the field's top scholars. The New Economic Sociology is both an invaluable introduction for those new to the field and a survey of the future direction of several important research programs."
-WALTER W. POWELL, professor of education, Stanford University

As the American economy surged in the 1990s, economic sociology made great strides as well. Economists and sociologists worked across disciplinary boundaries to study the booming market as both a product and a producer of culture, tracing the correlations they saw between economic and social phenomena. In the process, they debated the methodological issues that arose from their interdisciplinary perspectives. The New Economic Sociology provides an overview of these debates and assesses the state of the burgeoning discipline. The contributors summarize economic sociology's accomplishments to date, identifying key theoretical problems and opportunities, and formulating strategies for future research in the field.

The book opens with an introduction to the main debates and conceptual approaches in economic sociology. Contributor Neil Fligstein suggests that the current resurgence of interest in economic sociology is due to the way it brings together many sociological subdisciplines including the study of markets, households, labor markets, stratification, networks, and culture. Other contributors examine the role of economic phenomena from a network perspective. Ron Burt, for example, demonstrates how social relationships affect competitive dynamics in the marketplace. A third set of chapters addresses the role of gender in economic sociology. In her chapter, Barbara Reskin rethinks conventional notions about discrimination and points out that the law only covers one type of discrimination, while in recent years social scientists have uncovered other forms of hidden discrimination, which must be addressed as well. The New Economic Sociology also addresses the problem of economic development and change from a sociological perspective. Alejandro Portes and Margarita Mooney elaborate on one of the key emerging concepts in economic sociology, arguing that social capital—as an attribute of communities and regions—can contribute to economic and social well-being by fostering collaboration and entrepreneurship.

The contributors concur that economic action must be interpreted through the cultural understandings that lend it stability and meaning. By rendering these often complex debates accessible, The New Economic Sociology makes a significant contribution to this still rapidly developing field, and provides a useful guide for future avenues of research.

MAURO F. GUILLÉN is associate professor of management at the Wharton School and associate professor of sociology, University of Pennsylvania.

RANDALL COLLINS is professor of sociology, University of Pennsylvania.

PAULA ENGLAND is professor of sociology, Northwestern University.

MARSHALL MEYER is professor of management and sociology at the University of Pennsylvania.

CONTRIBUTORS: James N. Baron, Denise D. Bielby, Wililam T. Bielby, Ronald S. Burt, Paul DiMaggio, Susan Eckstein, Neil Fligstein, Mark Granovetter, Michael T. Hannan, Greta Hsu, Ozgecan Kocan, Margarita Mooney, Alejandro Portes, Barbara F. Reskin, Harrison C. White, Viviana A. Zelizer.