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Economic LivesHow Culture Shapes the Economy$
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Viviana A. Zelizer

Print publication date: 2010

Print ISBN-13: 9780691139364

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691139364.001.0001

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Beyond the Polemics on the Market

Beyond the Polemics on the Market

Establishing a Theoretical and Empirical Agenda

(p.363) 17 Beyond the Polemics on the Market
Economic Lives

Viviana A. Zelizer

Princeton University Press

This chapter examines some of the recent interdisciplinary attempts to develop theoretical alternatives to purely economic models of the market. The very definition of the market is at stake. In contrast to the neoclassical assumption of the market as a universal and exclusive form of economic arrangement, market revisionists define the market as one among many different possible social arrangements, such as barter or gift exchange, that involve economic processes. The market is thus one institutionalized type of social relations involving consumption, production, and exchange. Its essence is the rational calculation of costs and benefits and the regulation of exchange by the price mechanism. The chapter argues that the “multiple markets” model represents the most useful alternative to the neoclassical paradigm of the market.

Keywords:   economic models, markets, social relations, consumption, production, exchange

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