On the social structure of markets

William Jackson

Cambridge Journal of Economics, 2007, vol. 31, issue 2, 235-253

Abstract: Economic theorists have seldom discussed the social structures behind markets, even though market trading relies heavily on seller/buyer roles and personal relations among traders. This paper considers the structural basis of markets and proposes a layered approach which accommodates a wide range of competitive and relational trade within a definition of markets that distinguishes them from non-market exchange. Giving due regard to social structures lays bare the institutional character of markets and provides a rationale for case studies of how particular markets function. Copyright 2007, Oxford University Press.

Date: 2007
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