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First published in 1939, Principles of Economic Sociology has a two-fold object: first, to develop an economic theory of primitive life, secondly, to show the social principles behind the making of economic decisions, whether among primitive or advanced peoples. Economic theory was first developed with regard to Western exchange economics. Since then, it has been explored among the activities of totalitarian states. Here the process is carried a step further, by tracing economic theory in the lives of primitive peoples. It shows how the Bantu of Africa make economic choices, dispose of their resources, and apply capital to the meeting of future needs, always in a manner dictated by their own culture, yet fundamentally on principles similar to those of advanced peoples. The importance of groups in the making of economic decisions is stressed. Economics is enriched by a study of the structure of groups, since this plays a fundamental part in the forming of decisions. The author hopes that his work will encourage economists to use a knowledge of primitive peoples to test their theories and help to coordinate the two major branches of social science, economics and sociology. This is an important historical reference work for scholars of African economics, economic sociology, and economic history.
First published in 1939, Principles of Economic Sociology has a two-fold object: first, to develop an economic theory of primitive life, secondly, to show the social principles behind the making of economic decisions, whether among primitive or advanced peoples. Economic theory was first developed with regard to Western exchange economics. Since then, it has been explored among the activities of totalitarian states. Here the process is carried a step further, by tracing economic theory in the lives of primitive peoples. It shows how the Bantu of Africa make economic choices, dispose of their resources, and apply capital to the meeting of future needs, always in a manner dictated by their own culture, yet fundamentally on principles similar to those of advanced peoples. The importance of groups in the making of economic decisions is stressed. Economics is enriched by a study of the structure of groups, since this plays a fundamental part in the forming of decisions. The author hopes that his work will encourage economists to use a knowledge of primitive peoples to test their theories and help to coordinate the two major branches of social science, economics and sociology. This is an important historical reference work for scholars of African economics, economic sociology, and economic history.
This work is organized in seven sections around major themes of socio-economics. The first section outlines socio-economics in an historical perspective, drawing on the "Methodenstreit" in the German school of economics at the turn of the century. Four additional essays view economic behaviour from the perspective of psychology, sociology and values outside the realm of economics. The second section of the book explores the process of choice and goals made by the variety of economic factors, among them factors that influence choices, values and motivations outside economics. The next two sections, each containing three papers, examine executive leadership and entrepreneurship from the broader socio-economic perspective. Section five includes papers that deal with the role of institutions in the modern political economy. It develops an institutional theory of markets, firms, human values in economic behaviour and investment in ethnic goals and morality. Section six focuses on the modern corporate culture considering collective human capital. The final three papers examine the boundaries that embrace the processes and activities of firms. They consider the bonds and relationships that develop between firms and organizations in the modern political economy.