The Handbook of Economic Sociology

Citation

Delbridge, R. (2002), "The Handbook of Economic Sociology", European Journal of Marketing, Vol. 36 No. 5/6, pp. 738-740. https://doi.org/10.1108/ejm.2002.36.5_6.738.2

There is much rhetoric surrounding the benefits of “cross‐disciplinary” theorizing and research. Generally, this remains an empty vessel, as scholars pursue their narrow (self) interests and “stick to the knitting”. There is no doubt, however, that the project of economic sociology has developed a considerable momentum and begun to make major contributions to our understanding of the economic world. The Handbook of Economic Sociology should be the first port of call for anyone interested in finding out more.

The overarching intention of the volume is to advance knowledge about the economy and society and the editors have brought together contributions from many leading authors. A strength of the volume is that it includes the work of some influential economists as well as the leading sociological contributors to the field. The book contains 31 chapters split into three parts. Part I introduces the areas of study and outlines the scope of research with chapters from a number of perspectives, including DiMaggio on culture and the economy, Hodgson on institutional economics and Williamson on transaction costs. Part II contains the bulk of chapters and discusses economic systems, institutions and behaviour. This includes the economy in macrosociological perspective alongside the sociology of organizations and institutions. Part III broadens the scope further into the “intersections of the economy”, including chapters on education, gender, religion, the state and the environment. There is something here for everyone. The book lends itself to browsing.

Broadly speaking, the book works to introduce and examine the economic arena from a sociological perspective. This understanding is advanced through comparison between “mainstream economics” and “economic sociology”, the central points of contrast lying with the conception of the actor and of economic action. For economic sociologists, the actor is defined in terms of relations and is socially embedded as a member of groups and society rather than the atomistic individual of mainstream economics. Economic sociology embraces a range of types of economic action, of which rationality is one, whereas economics assumes rationality of action.

The distinctive features of economic sociology are laid out in the first chapter, written by the editors, Neil Smelser and Richard Swedberg. This provides a readable and historically grounded account of the development of studies in economics and sociology through briefly considering the work of a number of key contributors (Marx, Weber, Durkheim, Schumpeter, Polanyi and Parsons). The chapter also outlines “contemporary highlights” such as studies of networks and markets which have extended understanding of the social and relational properties of these institutions. A number of the chapters which follow pick up specific aspects of the phenomena in question.

Swedberg himself attends to the nature of markets as social structures. Here he identifies the tremendous variation apparent in different forms of markets over time. He develops two typologies around the social structure of markets. A key point, following Weber, is that markets consist of both exchange and competition:

… the social structure of a market is characterized by a special type of interaction that begins as competition between a number of actors (buyers and/or sellers) and that ends up with an exchange for a few of the actors. Whatever else there is to a market is secondary to this primary interactional structure (p. 271).

This underscores the interactional nature of markets regarding both competition and exchange. The typologies centre on the numbers of actors involved and the extent to which they are organized. In practical terms, readers may find these types too broadly drawn (over time or across goods) but, like many of the chapters, the contribution is in reviewing past work and establishing principles through which future work may develop. In similar fashion, Powell and Smith‐Doerr review the study of networks, identifying differing examples of networks before articulating a commonality in terms of patterns of reciprocity and asymmetry which allow the potential for intellectual cross‐fertilization.

Marketing scholars may feel that their discipline is under‐represented and lacking recognition. It is true that the book’s contents display its foundations in US sociology, despite the presence of some alternative voices. This should not prompt blinkered carping, however; the book is intended to induce further collaboration and exchange of ideas, especially across disciplinary boundaries.

The chapter by Frenzen, Hirsch and Zerrillo perhaps deals most directly with the concerns of marketers. The chapter discusses consumption, preferences and lifestyles, again from a historical and disciplinary perspective. As the authors note, “the disciplines comprising economic sociology usually take issues concerning supply and production more seriously than demand and consumption” (p. 403). Here lies a key contribution for marketers and, in the chapter, the rise of marketing as an applied social science and its interaction with other disciplines are noted.

The chapter begins by outlining the various conceptions of consumption, starting with economic perspectives. Following a familiar pattern, a historically based narrative describes the development of economic theory through three distinct phases: mercantilist, marginalist, and functionalist conceptions of consumption respectively. Each may be contrasted with the sociological perspective which sees consumption as a by‐product of social forces in society. As the authors note, the sociological perspective has contributed to the understanding of consumption in a number of distinct ways. Social historians have accounted for how mass consumption has developed and changed over time; cultural sociologists have addressed the meanings and symbolism of products and advertising; and the Marxian perspective has offered an alternative interpretation of the rise of mass consumption. In particular, the authors emphasize the contribution of sociologists to the empirical study of consumer behaviour especially during the 1950s, “Before market research exploded into a commercial enterprise largely avoided by sociologists, this linkage of consumer behaviour to sociology helped produce middle‐range concepts and theoretical advances from which the discipline benefited” (p. 411). The authors bemoan the current distancing of marketers’ and sociologists’ studies of analogous phenomena.

While marketers may feel neglected, there is plenty here with which to engage. Frenzen et al. contend that “Despite years of concentrated effort, marketers have failed to identify a global theoretical framework to guide their efforts. They have had far greater success developing ‘theories of the middle range’ to address a variety of practical problems”. More contentiously, they conclude their discussion, “… it becomes evident why sociology effectively invented marketing for itself, when it struggled to understand the strategies and techniques that promote successful social movements” (p. 419). Be that as it may, marketing has made valuable contributions to the study of economic inter‐relations and networks and the book’s central motif of economic activity as being embedded in social and institutional context strikes a harmonious chord with marketing research into the social context of exchange. In turn, this comprehensive volume provides an introduction to numerous related literatures from which marketing scholars may benefit.

Most importantly, this is a book that should be read in a positive light. Look back to look forward, cross disciplines to create dialogue and solve problems, grasp the nettle.