Desert Dog Dauter has written a summary of Economic Sociology for the Encyclopedia of Governance, it's much better than what's currently in the wikipedia, so I'm encouraging him to update that page.

Basically it boils down to the recognition that Groups matter as much in economic analysis as Individuals, and that the State and the Market have a symbiotic, rather than opposing, relationship.

In the academic realm, the Free Market Fundimentalists have more or less been proven wrong. In the political realm, you're still liable to be labeled a socialist if you don't take the Chinese line -- "The Customer is God and the Market decides Everything" -- but I think bringing this new consciousness to the debate is important to rehabilitating the role of government in our civilization.