This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book provides a critical evaluation of the idea of the market as the definitive form of co-ordination and of the socially embedded nature of market processes. It explores the idea of competition as an instituted economic process. The book focuses on an empirical study of cultural industries in East London. It also explores the instituted arrangements constituting the 'peculiar economics' of professional sports. The book presents an analysis of the emergence of one particular market in the UK, that for computer software. It examines some of the conditions which resulted in the UK coming to specialise in services to client companies rather than the production of software packages for an arm's length market. The book also provides an account of regional economic adaptation to changed market circumstances.

Editors: Stan Metcalfe and Alan Warde

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