According to Joseph Schumpeter, economic sociology is a name for an area that is situated somewhere between economics and sociology; and it is consequently of interest to both economists and sociologists. Economic sociology is generally considered to have been invented towards the end of the 19th century and it quickly became both popular and successful. Its goal - then as now - is to analyze economic institutions from a sociological perspective. During 1930-1980 interest waned; but during the last ten to 15 years there has been something of a renaissance in this area, especially with what is called New Economic Sociology.