New Economic Sociology

New Economic Sociology explores how social relationships, culture, and institutions influence economic behavior and outcomes. It examines how networks, trust, norms, and social structures shape decisions like investing, cooperation, and market functioning, emphasizing that economic activities are embedded in social contexts rather than driven solely by individual rationality or markets. This approach highlights the interconnectedness of social life and economic processes, offering a more holistic understanding of economic phenomena beyond traditional theories focused only on supply, demand, and rational choice.