Markets as Politics: A Political-Cultural Approach to Market Institutions on JSTOR

American Sociological Review

Description: The official flagship journal of the American Sociological Association (ASA), American Sociological Review (ASR) publishes works of interest to the discipline in general, new theoretical developments, results of research that advance our understanding of fundamental social processes, and important methodological innovations. All areas of sociology are welcome. Emphasis is on exceptional quality and general interest. Published bi-monthly in February, April, June, August, October, and December.

Information about subscriptions, article submissions, and advertising rates: http://www.asanet.org/journals/asr/

Coverage: 1936-2017 (Vol. 1, No. 1 - Vol. 82, No. 6)

Moving Wall: 2 years (What is the moving wall?)

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ISSN: 00031224

EISSN: 19398271

Subjects: Sociology, Social Sciences

Collections: Arts & Sciences I Collection, JSTOR Archival Journal & Primary Source Collection, JSTOR Essential Collection

Abstract

I use the metaphor "markets as politics" to create a sociological view of action in markets. I develop a conceptual view of the social institutions that comprise markets, discuss a sociological model of action in which market participants try to create stable worlds and find social solutions to competition, and discuss how markets and states are intimately linked. From these foundations, I generate propositions about how politics in markets work during various stages of market development--formation, stability, and transformation. At the formation of markets, when actors in firms are trying to create a status hierarchy that enforces noncompetitive forms of competition, political action resembles social movements. In stable markets, incumbent firms defend their positions against challengers and invaders. During periods of market transformation, invaders can reintroduce more fluid social-movement-like conditions.

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Abstract