The term market society can refer to either the free-market style of capitalism first popularized by Adam Smith, or (to a lesser extent) can also refer to government-instituted and/or controlled forms of the market, commonly called state capitalism. It is a term particularly associated with the Hungarian-American political economist Karl Polanyi and his book The Great Transformation, first published in 1944.[1] David Denham also argues that the analysis of market societies is a key feature of the thought and writings of Karl Marx, Émile Durkheim and Max Weber.[2]
The term market society differs from market economy in implying that capitalist market economics influences not just the exchange of goods and services in a society, but also directly impacts and helps shape the personal attitudes, lifestyles, and political views of its people. Lisa Herzog, in the Stanford Encyclopedia of Philosophy, refers to Polanyi's distinction between "market economies" and "market societies" as "vague, but nonetheless helpful distinction".[3]
^Polanyi, K. (1944). The Great Transformation, Foreword by Robert M. MacIver. New York: Farrar & Rinehart
^Denham, D., Marx, Durkheim and Weber on Market Society, 37th World Congress of the International Institute of Sociology, Stockholm, 5-9 July 2005, accessed 14 September 2023
^Herzog, L., Markets, Stanford Encyclopedia of Philosophy, published 26 March 2013, revised 30 August 2021, accessed 14 September 2023
The term marketsociety can refer to either the free-market style of capitalism first popularized by Adam Smith, or (to a lesser extent) can also refer...
of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production. Market economies...
The Market Harborough Building Society is a UK building society, which has its headquarters in Market Harborough, Leicestershire. It is a member of the...
The Market Research Society is a professional body for market research based in London, England. It was established in 1946 at the offices of the London...
In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and...
Mises believed that the market economy was the only system that provided freedom and personal choice to all members of society while generating the means...
(Formalism) to non-industrial societies was mistaken, he argued. In non-industrial societies, exchange was "embedded" in such non-market institutions as kinship...
Gift ideology in highly commercialized societies differs from the "prestations" typical of non-marketsocieties. Gift economies also differ from related...
propertarian libertarian organization in Iceland. The society aims at promoting the values of a free-market economy and individual liberty to the Icelandic...
on the literary plane of everyday life in the individualistic society created by market production. There is a rigorous homology between the literary...
York: Penguin, 2009. vii–xxix. Slater, D. & Tonkiss, F. (2001). MarketSociety: Markets and Modern Social Theory. Cambridge: Polity Press, pp. 54–5 Kennedy...
reformers seek to "disembed" the economy to establish what Polanyi calls a "marketsociety" wherein all things are commodified, including what Polanyi terms "fictitious...
A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims...
Market anarchism, also known as free-market anti-capitalism, is the branch of anarchism that advocates a free-market economic system based on voluntary...
the business banking market". Mortgage Finance Gazette. Retrieved 28 June 2020. "Nationwide Commercial". Nationwide Building Society. Retrieved 28 June...
A marketplace, market place, or just market, or mart is a location where people regularly gather for the purchase and sale of provisions, livestock, and...
A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus...
as part of his substantivist approach. Polanyi argued that in non-marketsocieties there are no pure economic institutions to which formal economic models...
aspects of liberalism. In some political spheres, market liberalism refers to an economically liberal society that also provides a minimal to moderate-sized...
Market fundamentalism, also known as free-market fundamentalism, is a term applied to a strong belief in the ability of unregulated laissez-faire or free-market...
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often...
A stateless society is a society that is not governed by a state. In stateless societies, there is little concentration of authority; most positions of...
An emerging market (or an emerging country or an emerging economy) is a market that has some characteristics of a developed market, but does not fully...
impersonal market-oriented ones, identifying the latter with permanent peace within and between nations. Throughout most of human history, societies have been...
Market research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an...
Global Information