The New Economic Sociology

New Economic Sociology explores how social relationships, culture, and institutions influence economic behavior, moving beyond traditional views that focus only on markets and rational choices. It emphasizes that economic actions are shaped by social networks, trust, norms, and power dynamics, which guide decision-making and interactions. This perspective highlights that economic activities are embedded in social contexts, affecting everything from individual transactions to broader economic systems, and helps us better understand how societies organize their economies and respond to change.