markets and firm behavior
In this paper I want to develop a critique of certain approaches to markets and firm behavior in economics and economic sociology. There are two main targets of the critique. The first concerns some common approaches to markets and the nature of firms in relation to them. Here the diverse range of uses of the term 'market' in contemporary lay and academic discourse are argued to cause confusion. Also problematic in both mainstream and institutional economics is the tendency to treat market exchange as the atomic structure of all economic processes, and as the default form of economic coordination, so that any other forms of organization are either marginalised or treated as problematic exceptions. The second target of critique concerns literature on the socially embedded character of economic processes, on the nature of networks, and the role of trust. While largely endorsing the importance attached to these in recent literature, I argue that their treatment has suffered frequ!ently from being idealist, both in the sense of underestimating material aspects of economic life and in presenting an overly benign view which underestimates the instrumentality of economic relations. In the third section, I venture some obse
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Some common words found in the essay are:
Maurice Dobb, Marx Engels, Annette Baier, Durkheim Marx, Arrow Debreu, Japan Europe, Marx Simmel, Margaret Thatcher, Inclusiveness Concepts, Rhenish Japanese, 'the market', market optic, press ·, university press, opportunity costs, economic relations, real markets, university press ·, social relations, economic behaviour, cambridge polity ·, production consumption, london routledge ·, cambridge university press, cambridge cambridge university,
Approximate Word count = 8496
Approximate Pages = 34 (250 words per page double spaced)
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