Durkheim’s Sociological Concept of the "Just Price"

Contemporary social sciences are increasingly drawing attention to the "just price"—notably for its critical potential, but also as an object of study. This chapter aims at showcasing Durkheim's specific contribution on the matter, which remains largely unknown. On the one hand, Durkheim considers the "just price" as an object that is to be accounted for by sociological investigations. With this investigation, one could build a sociological theory of the actual processes of price determination (if individuals do set prices partly because it is just to do so) but also define more precisely the social ideals at play in modern societies. According to Durkheim, the dominant ideal of the "just price" during his time was the following: a price is just if it allows the producer of the said good to achieve the suitable living standard that matches the rank of their occupation within the hierarchy of professions established by the social ideal. On the other hand, this normative fact provides resources for an immanent critique grounded in social aspirations and not in an independent realm of ideas and ideals. I argue that on both aspects, there is still much potential in Durkheim's work that is yet to be exploited.