Introduction — For an Abstract Market Theory
Amidst the curdling mass of our contemporary doubts, one thing at least is certain: the market exists. And yet, despite this — despite the market’s ubiquity and its unpredictability, its role in the making of billionaires and the destitution of nations — there is an almost total absence of philosophical reflection on its nature.
KeywordsGlobal Financial Crisis Market Maker Academic Discourse Methodological Immanence Adequate Concept
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- 1.Émile Benveniste, Problems in General Linguistics, Vol. 1, trans. M. Meek (Florida: University of Miami Press, 1971), 223.Google Scholar
- 2.Michel Callon, ‘Introduction: the embeddedness of economic markets in economics’, in Michel Callon (ed.) The Laws of the Markets (London: Blackwell, 1998), 1. The point here is not, pace Michel Foucault’s masterful analysis, that the categories of the market qua object of study, did not or do not exist (The Order of Things [New York: Vintage Books, 1994], 166–7; 257; 279), but rather that there is no rigorously elaborated formulation of the category of ‘the market’ in economic thought today.Google Scholar
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