THE IMPACT OF SOCIOLOGICAL THEORIES (FUNCTIONALISM, CONFLICT and INTERACTIONISM) ON ECONOMY

The impact of sociological theories (functionalism, conflict and interactionism) on economy

Abstract

In this study we try to explore the concept of “the impact of sociological theories on the economy” in a holistic context. The main focus of the research is on “sociological theories (functionalism, conflict and interactionism)” and their relation with “the economy”. The research also analyzes many aspects of “sociological theories” and tries to gauge its effect on “the economy”. Finally the research describes various factors which are responsible for “the impact of sociological theories on the economy” and tries to describe the overall effect of “theory of functionalism, theory of conflict and theory of interactionism” on “the economy”.

Thesis statement

The purpose of this paper is to gauge the impact of sociological theories (functionalism, conflict and interactionism) on the economy and the degree to which each theory's impact differs from the other because the theories are in contrast with each other.

Introduction

Since the start of the world only one thing has remained constant and that is the change. Everything which was in the past has been modified now; there is no variable which has not undergone the process of modification except the change. It is believed that mankind has evolved from the apes as they are considered our predecessors. During the process of human modification from ape to a civilized human being he has undergone several modifications. There has been the rise and fall or different religions and civilizations which had a steady and powerful impact on the mankind. Among these modifications and changes the most important change that mankind undergo was an idea, a code that separated mankind from animals and other creatures of the world. The gigantic change responsible for the conversion of mankind from a beast into a civilized entity was sociology. The origin or the birth of sociology cannot be limited by a date or an era because it was already present in this world and was steadily realized as time passed.

Sociology can be defined as a science that engulfs different methodologies, scrutinizes, pragmatic investigations and critical analysis to understand mankind and the extent of their involvement in communal activities. The objective of sociology is collect the knowledge about mankind and their contribution towards the social activities in order to analyze that information using different methodologies so that the extract can be implemented for the betterment of the community (Schaefer, 2002). Based on the information gathered by different methodologies and tactics of sociology different theories were suggested which provide a guideline for thorough understanding of society we live in. The purpose of this research paper is to focus on three fundamental theories of sociology; theory of functionalism, conflict and interactionism and their impact on the economy.

Theory of functionalism

The objective of functionalism in sociology is that it incorporates the sociological knowledge to provide guideline for the individuals living in the community. Through variety of methodologies functionalism strives to explore the social phenomenon and its vigorous implementation on inter-dependent variables ...