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On the Emergence of the Market Pattern

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  • Eduardo Zambrano
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    Abstract

    I examine the work of POLANYI [1957] to extract from it hypotheses related to the emergence and operation of the capitalist system. I adapt models from the literature on complex adaptive systems and evolutionary game theory to build a fictitious society in which I "test" those hypotheses. The results are encouraging: The model provides functional insight on the relationship between the commoditization of labor and the emergence of a self-equilibrating market economy.

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    Bibliographic Info

    Article provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.

    Volume (Year): 154 (1998)
    Issue (Month): 3 (September)
    Pages: 481-

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    Handle: RePEc:mhr:jinste:urn:sici:0932-4569(199809)154:3_481:oteotm_2.0.tx_2-h

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