On the Emergence of the Market Pattern

Eduardo Zambrano

Journal of Institutional and Theoretical Economics (JITE), 1998, vol. 154, issue 3, 481-

Abstract: I examine the work of POLANYI [1957] to extract from it hypotheses related to the emergence and operation of the capitalist system. I adapt models from the literature on complex adaptive systems and evolutionary game theory to build a fictitious society in which I "test" those hypotheses. The results are encouraging: The model provides functional insight on the relationship between the commoditization of labor and the emergence of a self-equilibrating market economy.

JEL-codes: D23 D51 O12 P51 (search for similar items in EconPapers)
Date: 1998
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