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Economic Sociology
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Social Capital
Social Capital refers to the networks of relationships among people who live and work in a particular society, enabling that society to function effectively. It influences economic outcomes by affecting the flow of information, facilitating coordination, and enabling collective action.
Labour Market Segmentation
Labour Market Segmentation theory suggests that the labor market is divided into separate sub-markets or segments, each with its own rules and employment conditions. This affects societal structure by creating disparities in work opportunities and wage inequality.
Cultural Capital
Cultural Capital encompasses the non-financial social assets that promote social mobility beyond economic means, such as education, intellect, style of speech, dress, or physical appearance. It can influence societal hierarchies and the distribution of power and status.
Economic Globalization
Economic Globalization refers to the increasing interdependence of national economies through the growth in international trade, investment, and finance. It influences societies by promoting international economic integration but may also lead to inequality and cultural homogenization.
Economic Field
An Economic Field is a network or system of relations where agents occupy positions that determine their access to resources or power. In the field, various forms of capital or assets are at stake and structured power relations influence actors' economic practices.
Commodification
Commodification is the transformation of goods, services, ideas, and people into commodities, or objects of trade. This affects society by potentially degrading the value of goods to mere exchange value and influencing labor relationships.
Human Capital
Human Capital is the stock of knowledge, habits, social and personality attributes, including creativity, embodied within the ability of individuals to perform labor so as to produce economic value. It influences society by determining productivity and competitiveness of a workforce.
Economic Power
Economic Power refers to the ability of an individual or group to control or influence the behavior of other individuals or groups in economic settings. It affects society by dictating the flow of resources and capital, potentially leading to inequality and social tension.
Embeddedness
Embeddedness refers to the degree to which economic activity is constrained by non-economic institutions. This includes social relationships, cultural norms, and political arrangements. It highlights how economic activities are influenced and shaped by social relations.
Economic Institution
An Economic Institution is a set of norms and behaviors that structure economic activity of individuals within a society. These institutions, such as banks and markets, play a crucial role in the economic development and stability of a society.
Social Structure of Accumulation
Social Structure of Accumulation (SSA) is a framework of institutions and social relations that stabilize and support the continuous accumulation of capital over time. It influences societal development by shaping economic growth patterns and class relations.
Symbolic Capital
Symbolic Capital can be any resource available to an individual on the basis of honor, prestige or recognition, and serves as an important axle in social cohesiveness and hierarchy. It influences societal interactions by determining social status and group dynamics.
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