IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Log in (now much improved!) to save this article

The Many Faces of the Market

Listed author(s):
  • Boettke Peter J.

    (George Mason University)

  • Coyne Christopher J.

    (George Mason University)

  • Leeson Peter T.

    (George Mason University)

While markets are all around us, not all markets are the same. Markets come in a variety of colors based on the legality of activities in the specific market. As such, there is no market economy per se, but instead various shades of markets. The different shades of markets that are evidenced in practice directly depend on the institutional environment that makes certain activities legal or illegal. Shifts in the institutional environment are a result of entrepreneurial activity over the rules of the game. The rules of the game and resulting shade of the market in turn impact entrepreneurs acting within those rules and hence economic development or the lack thereof.Léconomie de marché est en réalité une économie des marchés. La variété des marchés sexplique par la légalité des activités sur chacun dentre eux. Ainsi il nexiste pas une économie de marché en soi, mais plutôt plusieurs formes de marché. Ces formes manifestes de marché sont fonction de lenvironnement institutionnel qui rend certaines activités légales ou illégales. Les changements de lenvironnement institutionnel sont le résultat de lactivité entrepreneuriale en dehors des règles du jeu. Les règles du jeu ainsi que la forme du marché qui leur est associée influencent à leur tour les actions entrepreneuriales et donc le développement économique.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: https://www.degruyter.com/view/j/jeeh.2004.14.2/jeeh.2004.14.2.1127/jeeh.2004.14.2.1127.xml?format=INT
Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by De Gruyter in its journal Journal des Economistes et des Etudes Humaines.

Volume (Year): 14 (2004)
Issue (Month): 2 (December)
Pages: 1-18

as
in new window

Handle: RePEc:bpj:jeehcn:v:14:y:2004:i:2:n:5
Contact details of provider: Web page: https://www.degruyter.com

Order Information: Web: https://www.degruyter.com/view/j/jeeh

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as
in new window


  1. Djankov, Simeon & Glaeser, Edward & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2003. "The new comparative economics," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 595-619, December.
  2. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
  3. Katsenelinboigen, Aron & Levine, Herbert S, 1977. "Market and Plan; Plan and Market: The Soviet Case," American Economic Review, American Economic Association, vol. 67(1), pages 61-66, February.
  4. Kevin M. Murphy & Andrei Shleifer & Robert W. Vishny, 1991. "The Allocation of Talent: Implications for Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 503-530.
  5. Scully, Gerald W, 1988. "The Institutional Framework and Economic Development," Journal of Political Economy, University of Chicago Press, vol. 96(3), pages 652-662, June.
  6. Svetozar Pejovich, 2003. "Understanding the Transaction Costs of Transition: it's the Culture, Stupid," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 16(4), pages 347-361, December.
  7. Peter T. Leeson, 2003. "Contracts Without Government," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 18(Spring 20), pages 35-54.
  8. Steve Pejovich, 2003. "Understanding the transaction costs of transition: it's the culture, stupid," ICER Working Papers 24-2003, ICER - International Centre for Economic Research.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:bpj:jeehcn:v:14:y:2004:i:2:n:5. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Peter Golla)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.