Advertisement

The Review of Austrian Economics

, Volume 21, Issue 2–3, pp 135–150 | Cite as

The market as a social space: On the meaningful extraeconomic conversations that can occur in markets

  • Virgil Henry Storr
Article

Abstract

Prominent economic sociologist Richard Swedberg has argued that economists have failed to develop a theory of the market that recognizes it as a “social phenomenon in its own right.” While this may be true of mainstream economics, the Austrian school’s theory of the market is much richer than the standard view. For Austrians, the market has always been a central concern. And Austrians have always argued that the market is a social structure where both exchange and competition occurs. Still, Austrians give little more than scant attention to the noneconomic sociality that occurs in markets. The market, however, is both a conversation and an arena where meaningful conversations can occur. This paper is an effort to focus attention on the market as a social space where social activity (beyond competition and exchange) takes place and where noneconomic relationships and economic relationships develop.

Keywords

The market Social space Swedberg Lefebvre Gudeman Granovetter 

JEL codes

B25 B41 054 Z13 

Notes

Acknowledgements

I am grateful to Paul Lewis, Emily Chamlee-Wright, Stephen Gudeman, Sanford Ikeda, Chris Coyne, Nicola Virgill-Rolle, John Rolle, T. Clark Durant, and the participants in New York University’s Colloquium on Market Institutions and Economic Processes and the Mercatus Center Graduate Student Paper Workshop for the comments on earlier drafts of this paper. The standard disclaimer applies.

References

  1. Bender, T. (2002). The unfinished city: New York and the metropolitan idea. New York: The New Press.Google Scholar
  2. Boettke, P. J., & Storr, V. H. (2002). Post classical political economy: Polity, society and economy in Weber, Mises and Hayek. American Journal of Economics and Sociology, 61, 161–191.CrossRefGoogle Scholar
  3. Bourdieu, P. (1985). The social space and the genesis of groups. Theory and Society, 14, 723–744.CrossRefGoogle Scholar
  4. Bourdieu, P. (1989). Social space and symbolic power. Sociological Theory, 7, 14–25.CrossRefGoogle Scholar
  5. Chamlee-Wright, E. (1997). The cultural foundations of economic development: Urban female entrepreneurship in Ghana. New York: Routledge.Google Scholar
  6. Clark, G. (1994). Onions are my husband: Survival and accumulation by West African market women. Chicago: The University of Chicago Press.Google Scholar
  7. Coleman, J. S. (2000). Social capital in the creation of human capital. In P. Dasgupta, & I. Serageldin (Eds.) Social capital: A multifaceted perspective. Washington: The World Bank.Google Scholar
  8. Coyne, C. J. (2007). After war: The political economy of exporting democracy. Stanford: Stanford University Press.Google Scholar
  9. Gottdiener, M. (1993). A Marx for our time: Henri Lefebvre and the production of space. Social Theory, 11, 129–134.CrossRefGoogle Scholar
  10. Granovetter, M. (2004). Economic action and social structure: The problem of embeddedness. In F. Dobbin (Ed.) The new economic sociology: A reader. Princeton: Princeton University Press.Google Scholar
  11. Gudeman, S. (1992). Remodeling the house of economics: Culture and innovation. American Ethnologist, 19, 141–154.CrossRefGoogle Scholar
  12. Gudeman, S. (2001). The anthropology of economy. Malden: Blackwell.Google Scholar
  13. Gudeman, S. (2005). Realism, relativism and reason: What’s economic anthropology all about? In S. Löfving (Ed.) Peopled economies. Uppsala, Sweden: Interface.Google Scholar
  14. Gudeman, S., & Rivera, A. (1990). Conversations in Columbia: The domestic economy in life and text. Cambridge: Cambridge University Press.Google Scholar
  15. Hayek, F. A. (1948). Individualism and economic order. Chicago: The University of Chicago Press.Google Scholar
  16. Hodson, R. (1997). Group relations at work. Solidarity, conflict, and relations with management. Work and Occupations: An International Sociological Journal, 24, 426–452.CrossRefGoogle Scholar
  17. Horwitz, S. (1995). Monetary exchange as an extra-linguistic social communication process. In D. L. Prychitko (Ed.) Individuals, institutions, interpretations. Burlington: Ashgate.Google Scholar
  18. Ikeda, S. (1994). Market processes. In P. J. Boettke (Ed.) The Elgar companion to Austrian economics. Northampton: Elgar.Google Scholar
  19. Ikeda, S. (2002). The role of “social capital” in the market process. Journal des Economistes ed des Etudes Humaines, 12, 229–240.Google Scholar
  20. Kelly, M. (2000). Demystification: A dialogue between Barthes and Lefebvre. Yale French Studies, 98, 79–97.CrossRefGoogle Scholar
  21. Lefebvre, H. (1991). The production of space. Malden: Blackwell.Google Scholar
  22. Lie, J. (1997). Sociology of markets. Annual Review of Sociology, 23, 341–360.CrossRefGoogle Scholar
  23. Löfving, S. (2005). Peopled economies: Conversations with Stephen Gudeman. Uppsala, Sweden: Interface.Google Scholar
  24. Mises, L. (1949). Human action: A treatise on economics. Third revised edition. San Francisco: Fox & Wilkes.Google Scholar
  25. Pierce, C. A., Byrne, D., & Aguinis, H. (1996). Attraction in organizations: A model of workplace romance. Journal of Organizational Behavior, 17, 5–32.CrossRefGoogle Scholar
  26. Price, L. L., & Arnould, E. J. (1999). Commercial friendships: Service provider–client relationships in context. Journal of Marketing, 63, 38–56.CrossRefGoogle Scholar
  27. Robertson, C. (1974). Economic woman in Africa: Profit-making techniques of Accra market women. The Journal of Modern African Studies, 12, 657–664.CrossRefGoogle Scholar
  28. Robertson, C. (1983). The death of Makola and other tragedies. Canadian Journal of African Studies/Revue Canadienne des Études Africaines, 17, 469–495.CrossRefGoogle Scholar
  29. Rothbard, M. N. (1993). Man, Economy and State: A Treatise on Economic Principles. Auburn: Ludwig von Mises Institute First published in 1962.Google Scholar
  30. Soja, E. W. (1989). Postmodern geographies: The reassertion of space in critical social theory. New York: Verso.Google Scholar
  31. Swedberg, R. (1991). Major traditions of economic sociology. Annual Review of Sociology, 17, 251–276.CrossRefGoogle Scholar
  32. Swedberg, R. (1994). Markets as social structures. In N. Smelser, & R. Swedberg (Eds.) The handbook of economic sociology. Princeton: Princeton University Press.Google Scholar
  33. Swedberg, R. (1998). Max Weber and the idea of economic sociology. Princeton: Princeton University Press.Google Scholar
  34. Weber, M. (1947). The theory of social and economic organization. New York: The Free Press.Google Scholar
  35. Weber, M. (1949). The methodology of the social sciences. New York: The Free Press.Google Scholar
  36. Weber, M. (1978). Economy and society: An outline of interpretive sociology, two volumes. Berkeley: University of California Press.Google Scholar
  37. Weber, M. (1998). The Protestant ethic and the spirit of capitalism. Los Angeles: Roxbury First published in 1930.Google Scholar
  38. Weber, M. (1999). Essays in economic sociology. Princeton: Princeton University Press.Google Scholar
  39. Williams, C. L., Giuffre, P. A., & Dellinger, K. (1999). Sexuality in the workplace: Organizational control, sexual harassment, and the pursuit of pleasure. Annual Review of Sociology, 25, 73–93.CrossRefGoogle Scholar
  40. Zavella, P. (1985). ‘Abnormal intimacy’: The varying work networks of Chicana cannery workers. Feminist Studies, 11, 541–557.CrossRefGoogle Scholar

Copyright information

© Springer Science+Business Media, LLC 2007

Authors and Affiliations

  1. 1.Mercatus CenterGeorge Mason UniversityArlingtonVirginia

Personalised recommendations