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The creative class is the posit of American urban studies theorist Richard Florida for an ostensible socioeconomic class.Florida, a professor and head of the Martin Prosperity Institute at the Rotman School of Management at the University of Toronto, [1] maintains that the creative class is a key driving force for economic development of post-industrial cities in North America.
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...
An example in economic policy, economist Anthony Downs concluded that a high income voter ‘votes for whatever party he believes would provide him with the highest utility income from government action’, [19] using rational choice theory to explain people's income as their justification for their preferred tax rate.
Manifest functions are the consequences that people see, observe or even expect. It is explicitly stated and understood by the participants in the relevant action. The manifest function of a rain dance, according to Merton in his 1957 Social Theory and Social Structure, is to produce rain, and this outcome is intended and desired by people participating in the ritual.
"If we have a function which, although in and for itself unproductive, is nevertheless a necessary moment of [economic] reproduction, then when this is transformed, through a division of labour, from the secondary activity of many into the exclusive activity of a few, into their special business, this does not change the character of the ...
[5] Relative mobility is a zero-sum game, absolute is not. Exchange mobility is the mobility that results from a "reshuffling" of incomes among the economic agents, with no change in the income amounts. For example, in the case of two agents, a change in income distribution might be {1,2}->{2,1}. This is a case of pure exchange mobility, since ...
In a 1938 article, Abram Bergson introduced the term social welfare function, with the intention "to state in precise form the value judgments required for the derivation of the conditions of maximum economic welfare." The function was real-valued and differentiable. It was specified to describe the society as a whole.
The group can be a language or kinship group, a social institution or organization, an economic class, a nation, or gender. Social relations are derived from human behavioral ecology, [2] [3] and, as an aggregate, form a coherent social structure whose constituent parts are best understood relative to each other and to the social ecosystem as a ...