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explian socio-economics
Socioeconomics or socio-economics or social economics is 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 ]
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Asked 4/14/2012 11:42:33 AM
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