Theory and research in the field of economic sociology have seen steady advancements in recent years. Economic sociology has become a legitimate branch of sociology as well as of economics. Nonetheless, the treatment of economic sociology in both modern economics and sociology leaves much to be desired. Various formal-terminological confusions and theoretical-substantive misconceptions are still present in the field. Some proposals for remedying this situation are advanced. In particular, clarifications are provided of and amendments to the current treatment of issues, such as the relationship between economics and sociology, the character of economic sociology, its links to economic theory, socio-economics, and rational choice theory, as well as the question of the old versus the new economic sociology. Special emphasis is placed on the relationships between economic sociology and rational choice theory, given the latter's claims to universality.