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A Socio‐Dynamic Understanding of Markets

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  • Anders Liljenberg

Abstract

Economic sociology furthers a healthy alternative to price‐theory–oriented economics as it sets out to remedy the invisibility of the market within the latter. There is, however, no doubt that such a market‐oriented sociology is still in its infancy, given among other issues its inability to shoulder market change. The void thus recognized opens up the potential for a market idea with both social and dynamic properties. There is good reason to believe that such an endeavor would benefit from the constructive blending of economic sociology and Austrian economics. This paper argues that such a “socio‐Austrian” connection is in the position to enrich the socioeconomic discourse in general and its market conception in particular.

Suggested Citation

  • Anders Liljenberg, 2005. "A Socio‐Dynamic Understanding of Markets," American Journal of Economics and Sociology, Wiley Blackwell, vol. 64(4), pages 999-1023, October.
    • Handle: RePEc:bla:ajecsc:v:64:y:2005:i:4:p:999-1023
    DOI: 10.1111/j.1536-7150.2005.00423.x
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    References listed on IDEAS

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    1. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, December.
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    4. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    5. Beaulier Scott & Boettke Peter, 2000. "Of Norms, Rules and Markets: A Comment on Samuels," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 10(4), pages 1-8, December.
    6. Peter J. Boettke (ed.), 1994. "The Elgar Companion to Austrian Economics," Books, Edward Elgar Publishing, number 53.
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