Assessing the New Synthesis of Economics and Sociology

Abstract

In this essay, the emergence of the “New Synthesis” of economics and sociology is explored and analyzed in the context of the classical writings in economic sociology ("Old Synthesis"). The aim is not to provide an exhaustive survey, but rather a selective assessment that introduces readers to the most important questions, answers, and contributions of this emerging and important specialized literature. The essay seeks to i) translate faithfully the internal logic of this active specialty field into a language and problematic that can be appreciated by non‐specialists, ii) identify central assumptions and themes in the New Synthesis writings that seem particularly promising for the appreciation of contemporary economic happenings, and iii) indicate opportunities for the development of further theoretical richness by incorporating Old Synthesis approaches.