The Traditional Economic View

Individuals are
isolated

Transactions are isolated

The Sociological View
Individuals & transactions are embedded in…

Groups
In-group / Out-group
Reference group

Neighborhoods
Individuals are embedded in space

Networks
Connections that span space and social category

Homans’ Law

Social Control

The war of all against all?
Thomas Hobbes
The “State of Nature” is conflict
Emile Durkheim
Solidarity is our natural state

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m
em
il
D
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er
on
is
r
P
e
h ss?
T nfe
co
ou
dy
ul
o
W

Reciprocity Exchange

Bounded Solidarity

Value Introjection

Enforceable Trust

Acknowledgements
Anonymous. “Prisoner’s Dilemma. Wikipedia. Accessed
8/31/2007
Anonymous. “Social Contract Theory.” Internet
Encyclopedia of Philosophy. Accessed 8/31/2007.
Homans, George. 1958. \"Social Behavior as Exchange.\"
American Journal of Sociology. 63: 597-606.
Portes Alejandro & Julia Sensenbrenner. 1993.
Embeddedness & Immigration. American Journal of
Sociology. 98(6): 1320-50.
Yu Zhang, Christine Drennon, Mark Lewis, Luis Schettino, Dante Suarez
Associated Colleges of the South
Associated Colleges of the South