A challenge to the new economic sociology is that central economic processes should become the focus of theoretical and empirical sociological analysis. This chapter argues that competition processes are co-instituted with markets, and that market processes are in turn co-instituted with industrial divisions of labour. It begins with an examination of some of the few empirically based studies of competition, suggesting that they often are developed for overtly normative or prescriptive purposes. The chapter then returns to analyse some of the early Weberian conceptions of competition, upon which to build an economic sociology of competitive processes. It provides an exemplification of the analytical framework through a schematic analysis of changing forms of competition in the historical development of UK food supermarkets. The conclusion drawn from this analysis is that competitive processes are a result of processes of transformation wider than intra-market dynamics.
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This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book presents the case studies of the individual countries: Thailand, Indonesia, South Korea and the People's Republic of China (PRC). It examines the factors behind the financial crisis and highlights the underlying similarities and the fundamental differences between the individual cases. The book provides a review of the competing perspectives on the new international financial architecture. It explains a number of fundamental issues and its implications for the emerging market economies. The book also presents a more nuanced picture of the International Monetary Fund's (IMF) policies and its socioeconomic impact. It assesses the IMF's efforts to reduce moral hazard. The book also examines the reasons behind Asia's remarkable economic recovery and the challenges that lie ahead.