The Double Movement: global market versus regionalism

Abstract

An economic system presupposes some kind of social order. A social order is a coherent system of rules which is accepted by the actors constituting the system. The concept can contain both coercive and consensual dimensions. The market system of exchange is not in itself an order, but is confined by a particular order that expresses its underlying value system, or normative content. Therefore, market systems differ to the extent that their underlying social orders differ. If, as in the case of the post-communist world, there is a transition between different orders, the market can only reflect the confusion and turbulence of this transition, but it will not by itself create order.