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On the Social Structure of Markets

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  • Jackson, William A.

Abstract

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.

Suggested Citation

  • Jackson, William A., 2007. "On the Social Structure of Markets," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 31(2), pages 235-253.
    • Handle: RePEc:zbw:espost:279833
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    File URL: https://www.econstor.eu/bitstream/10419/279833/1/Social-Structure-of-Markets.pdf
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    Citations

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    Cited by:

    1. William A Jackson, 2024. "Dualities in the Organising of Markets," Discussion Papers 24/02, Department of Economics, University of York.
    2. Christopher Pryor & Shaker A. Zahra & Garry D. Bruton, 2023. "Trusting without a Safety Net: The Peril of Trust in Base of the Pyramid Economies," Journal of Management Studies, Wiley Blackwell, vol. 60(4), pages 767-799, June.
    3. William A. Jackson, 2013. "The desocialising of economic theory," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 40(9), pages 809-825, July.
    4. W A Jackson, 2015. "Markets and the Meaning of Flexibility," Economic Issues Journal Articles, Economic Issues, vol. 20(2), pages 45-65, September.

    More about this item

    Keywords

    markets; social structure; agency; competition; rivalry;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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