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On the social structure of markets


  • William A. Jackson


Economic theorists have seldom discussed the social structures behind markets, even though market trading relies heavily on seller/buyer roles and personal relations among traders. This paper considers the structural basis of markets and proposes a layered approach which accommodates a wide range of competitive and relational trade within a definition of markets that distinguishes them from non-market exchange. Giving due regard to social structures lays bare the institutional character of markets and provides a rationale for case studies of how particular markets function. Copyright 2007, Oxford University Press.

Suggested Citation

  • William A. Jackson, 2007. "On the social structure of markets," Cambridge Journal of Economics, Oxford University Press, vol. 31(2), pages 235-253, March.
  • Handle: RePEc:oup:cambje:v:31:y:2007:i:2:p:235-253

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