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Market and Society: How Do They Relate, and How Do They Contribute to Welfare?

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  • Wilfred Dolfsma
  • John Finch
  • Robert McMaster

Abstract

As we observed in the introductory chapter, the relationship between market and society is a hotly debated issue in the social sciences. The ideological overtones of the debate concern the contribution of the market to welfare—usually conceptualized in material terms—and to well-being. I surmise that both market and society can contribute to welfare and to well-being.
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  • Wilfred Dolfsma & John Finch & Robert McMaster, 2005. "Market and Society: How Do They Relate, and How Do They Contribute to Welfare?," Journal of Economic Issues, Taylor & Francis Journals, vol. 39(2), pages 347-356, June.
    • Handle: RePEc:mes:jeciss:v:39:y:2005:i:2:p:347-356
    DOI: 10.1080/00213624.2005.11506811
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    Cited by:

    1. Wilfred Dolfsma & Rene Eijk & Albert Jolink, 2009. "On a Source of Social Capital: Gift Exchange," Journal of Business Ethics, Springer, vol. 89(3), pages 315-329, October.
    2. Brennan, Andrew John, 2008. "Theoretical foundations of sustainable economic welfare indicators -- ISEW and political economy of the disembedded system," Ecological Economics, Elsevier, vol. 67(1), pages 1-19, August.
    3. Nasreen Nawaz, 2021. "Efficiency on the dynamic adjustment path in a financial market," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 45(1), pages 49-74, January.
    4. David George, 2006. "Social class and social identity," Review of Social Economy, Taylor & Francis Journals, vol. 64(4), pages 429-445.
    5. Mann, Stefan, 2013. "“Work”? On utility in the market and in the unpaid sphere," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 45(C), pages 86-91.
    6. Ahmed, Muhammad Ashfaq & Nawaz, Nasreen, 2023. "Adam Smith's Perfectly Competitive Market is Not Pareto Efficient: A Dynamic Perspective," MPRA Paper 118362, University Library of Munich, Germany.
    7. Dolfsma, W.A. & McMaster, R. & Finch, J., 2005. "Institutions, Institutional Change, Language, and Searle," ERIM Report Series Research in Management ERS-2005-067-ORG, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    8. Jackson, William A., 2024. "Markets as Dualistic, Semi-Decentralized Organizations," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 5(1), pages 153-172.
    9. Wicks, Rick, 2008. "A Model of Dynamic Balance among the Three Spheres of Society – Markets, Governments, and Communities – Applied to Understanding the Relative Importance of Social Capital and Social Goods," Working Papers in Economics 292, University of Gothenburg, Department of Economics, revised 01 Jan 2009.

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