in Market relations and the competitive process

This conclusion presents some closing thoughts on concepts discussed in preceding chapters of this book. The book resides within a now-flourishing broader stream of ideas at the interface between economics and sociology. It contributes more to a sophisticated understanding of particular markets than they do to the theory of the general market system. Market activity implies that buyers and sellers are 'brought together' across time and space and that transactions are consummated and recorded. During the 1990s, sociological investigation of markets has tended to abandon earlier concerns with the social effects of the operation of markets and to concentrate instead on the social processes by which markets are made. As with the new economic sociology, evolutionary economists are wedded to a more sophisticated notion of individual behaviour than that embedded in the idea of Olympian rationality.

Editors: Stan Metcalfe and Alan Warde


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