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Economic sociology is an attempt by sociologists to redefine in sociological terms questions traditionally addressed by economists. It is thus also an answer to attempts by economists (such as Gary Becker ) to bring economic approaches – in particular utility maximisation and game theory – to the analysis of social situations that are not ...
Economic ethics is the combination of economics and ethics, incorporating both disciplines to predict, analyze, and model economic phenomena.. It can be summarised as the theoretical ethical prerequisites and foundations of economic systems.
The sociology of law refers to both a sub-discipline of sociology and an approach within the field of legal studies. Sociology of law is a diverse field of study that examines the interaction of law with other aspects of society, such as the development of legal institutions and the effect of laws on social change and vice versa.
The ethics of economic systems deals with the issues such as how it is right (just, fair) to keep or distribute economic goods. Economic systems as a product of collective activity allow examination of their ethical consequences for all of their participants. Ethics and economics relates ethical studies to welfare economics. [10]
In the history of economic thought, ancient economic thought refers to the ideas from people before the Middle Ages.. Economics in the classical age is defined in the modern analysis as a factor of ethics and politics, only becoming an object of study as a separate discipline during the 18th century.
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Moral economy is a way of viewing economic activity in terms of its moral, rather than material, aspects. The concept was developed in 1971 by British Marxist social historian and political activist E. P. Thompson in his essay, "The Moral Economy of the English Crowd in the Eighteenth Century".
The term morality originates in the Latin word moralis, meaning ' manners ' and ' character '. It was introduced into the English language during the Middle English period through the Old French term moralité. [7] The terms ethics and morality are usually used interchangeably but some philosophers distinguish between the two. According to one ...