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Free Content The Impact of Social Structure on Economic Outcomes

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Abstract:

The author focus here on sociologists' contributions to the impact of social structure and networks on the economy. Sociologists have developed core principles about the interactions of social structure, information, ability to punish or reward, and trust that frequently recur in their analyses of political, economic and other institutions. The author begins by reviewing some of these principles. Building on these, he then discusses how social structures and social networks can affect economic outcomes like hiring, price, productivity and innovation.

Document Type: Research Article

DOI: http://dx.doi.org/10.1257/0895330053147958

Publication date: December 1, 2005

More about this publication?
  • The Journal of Economic Perspectives (JEP) attempts to fill a gap between the general interest press and most other academic economics journals. The journal aims to publish articles that will serve several goals: to synthesize and integrate lessons learned from active lines of economic research; to provide economic analysis of public policy issues; to encourage cross-fertilization of ideas among the fields of thinking; to offer readers an accessible source for state-of-the-art economic thinking; to suggest directions for future research; to provide insights and readings for classroom use; and to address issues relating to the economics profession.
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