About Social Economics

Social economics is a branch of economics that focuses on the relationship between social behaviour and economics, and it examines how social norms, ethics and other social philosophies that influence consumer behaviour shape an economy, and uses history, politics and other social sciences to examine potential results from changes to society or the economy. Social economic theories do not move in lockstep with those of orthodox schools of economics, which often make the assumption that actors are self-interested and can rationally make decisions. It often takes into account subject matter outside of what mainstream economics focuses on, including the effect of the environment and ecology on consumption and wealth”.