Search results

You are looking at 1 - 3 of 3 items for :

  • "social construction" x
  • Economics and Business x
Clear All
Open Access (free)
Stan Metcalfe and Alan Warde

embeddedness and social construction, namely that the specificity and logic of economic action get obscured. The emergence of ‘the economy’, recognised as a separate 194 Stan Metcalfe and Alan Warde sphere of existence, a separate field in Bourdieu’s terms, is itself a historical process. We understand economic phenomena as having specific characteristics precisely because there was some autonomisation of economic behaviour. This became obvious when market exchange came to predominate over gift relations, household production and simple barter. The efficiency norm, an

in Market relations and the competitive process
Problems of polysemy and idealism
Andrew Sayer

and others, that markets are social constructions whose birth is difficult and requires considerable regulation and involvement by the state and other institutions to achieve (Polanyi, 1944; Marquand, 1988). The experience of the post-communist countries weighs heavily in support of Polanyi. The liberal underestimation or denial of this institutional support is partly derived from the elision of the difference between the potential or imaginary and the actual in its concept of ‘the market’. Through its fetishisation of markets, the market optic attributes to markets

in Market relations and the competitive process
Open Access (free)
Oonagh McDonald

proxy sign is positive and the state of affairs in the banking community is negative, we are then in Bagehot's dangerous situation, in which it is not known who has losses and who has not, and in which an accident may set off a general panic. 41 The proxy signs may refer to the state of the economic affairs, but the proxy does not refer to ‘some object and “true” reality but is a “social construction”.’ 42 The obvious problem here is: how do market participants know that the proxy signs

in Lehman Brothers