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Formalism in economic sociology refers to an analytical approach that applies the principles and models of classical and neoclassical economics to study social behavior and institutions. It assumes that human actions in economic and social contexts can be explained through rational choice, utility maximization, and cost-benefit calculations, regardless of cultural or social variations. In other words, formalism treats economic behavior as universally governed by rational decision-making rules, and social institutions are often analyzed in terms __________ ________ ______ ____ _____.
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