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Socioeconomics (also known as socio-economics or social economics) is the social science that studies how economic activity affects social processes. In general it analyzes how societies progress, stagnate, or regress because of their local or regional economy, or the global economy.

Overview [edit]

This section may stray from the topic of the article. Please help improve this section or discuss this issue on the talk page. (November 2012)

Socioeconomics is sometimes used an umbrella term with different usages. 'Social economics' may refer broadly to the "use of economics in the study of society."^[1] More narrowly, contemporary practice considers behavioral interactions of individuals and groups through social capital and social "markets" (not excluding for example, sorting by marriage) and the formation of social norms.^[2] In the latter, it studies the relation of economics to social values.^[3]

A distinct supplemental usage describes social economics as "a discipline studying the reciprocal relationship between economic science on the one hand and social philosophy, ethics, and human dignity on the other" toward social reconstruction and improvement^[4] or as also emphasizing multidisciplinary methods from such fields as sociology, history, and political science.^[5] In criticizing mainstream economics for its alleged faulty philosophical premises (for example the pursuit of self-interest) and neglect of dysfunctional economic relationships, such advocates tend to classify social economics as heterodox.^[6]

In many cases, socioeconomists focus on the social impact of some sort of economic change. Such changes might include a closing factory, market manipulation, the signing of international trade treaties, new natural gas regulation, etc. Such social effects can be wide-ranging in size, anywhere from local effects on a small community to changes to an entire society. Examples of causes of socioeconomic impacts include new technologies such as cars or mobile phones, changes in laws, changes in the physical environment (such as increasing crowding within cities), and ecological changes (such as prolonged drought or declining fish stocks).^{[citation needed]} These may affect patterns of consumption, the distribution of incomes and wealth, the way in which people behave (both in terms of purchase decisions and the way in which they choose to spend their time), and the overall quality of life.

The goal of socioeconomic study is generally to bring about socioeconomic development, usually in terms of improvements in metrics such as GDP, life expectancy, literacy, levels of employment, etc.^{[citation needed]}

Although harder to measure, changes in less-tangible factors are also considered, such as personal dignity, freedom of association, personal safety and freedom from fear of physical harm, and the extent of participation in civil society.^{[citation needed]}

See also [edit]

External links [edit]

Association for Social Economics The Society for the Advancement of Socio-Economics SASE Spanish Chapter Economy and Society Forum for Social Economics

Look up socioeconomic in Wiktionary, the free dictionary. International Journal of Social Economics Journal of Socio-Economics Review of Social Economy Socio-Economic Review

Notes [edit]

References [edit]

• Pokrovskii, Vladimir N. (2011) Econodynamics. The Theory of Social Production, Springer, Berlin.
• Gustav Cassel, [1931] 1932. The Theory of Social Economy. Reprinted 1967, Augustus M. Kelley. From the Mises Institute, select among sections (press +).
• Max Weber, 1922. Economy and Society, 2 v. Description and scroll to chapter-preview links.
• Friedrich von Wieser, [1924] 1928. Social Economics. Foreword by Wesley C. Mitchell. Reprint 2003, Routledge. Scroll to chapter-preview links links.