Society and Economy: Frameworks and Principles: A Book Review
Journal of Economic Literature
vol. 57,
no. 3, September 2019
(pp. 678-89)
Abstract
Mark Granovetter has written a deep and wide-ranging book on economy and society entitled Society and Economy: Frameworks and Principles. Economists, in particular, will find his discussion on the role of social networks in understanding the problem of aggregation—from micro foundations to large-scale institutional phenomena—especially relevant. And they will find much to ponder over the ways in which overlapping structures—of networks and institutions—shape human behavior and determine aggregate economic outcomes. The high-level and parsimonious style of this book is distinctive and sets it apart from much of contemporary social science. This style and the apparent unwillingness to engage closely with research developments over the past two decades may, however, mean that the book will have limited influence on ongoing and future research.Citation
Goyal, Sanjeev. 2019. "Society and Economy: Frameworks and Principles: A Book Review." Journal of Economic Literature, 57 (3): 678-89. DOI: 10.1257/jel.20181488Additional Materials
JEL Classification
- D02 Institutions: Design, Formation, Operations, and Impact
- D90 Micro-Based Behavioral Economics: General
- Z13 Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification