The Constitution of Markets

Essays in Political Economy

Viktor J Vanberg

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Hardback

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English

Routledge
28 June 2001

Political economy; Economic systems & structures

"The failures of early ""market reforms"" in many post-communist transformation countries has refocused attention on the relevance of the institutional framework of market economies, an aspect grossly neglected in orthodox economic theory and often overlooked by Western economists advising

transformation governments. This book examines the institutional dimension of markets and the rules and institutions that condition the operation of the market economies. Standard

economics studies markets of arenas of interacting demand and supply forces. It presupposes that such interplay of economic forces takes place within a framework of rules 2 oldmediautions. Yet, the issue of how these framing rules and institutions condition the operation of markets is rarely explicitly explored. By expressly looking at markets as social institutions, the articles collected in this volume seek to fill this void. Their analytical focus is on the constitution of markets in the sense of the ""rules of the game"" within which the evolutionary process of market competition unfolds. A

central theme is the systematic interplay between the nature of the consituting rules of markets and the character of the economic process emerging within these rules. Particular attention is paid to the relation between the market and the state, specifically the role of governments in shaping

and maintaining the economic constitution of their societies. Researchers, professionals and students will greatly enhance their understanding of markets as a social institution by reading this book."

By: Viktor J Vanberg
Imprint: Routledge
Country of Publication: United Kingdom
Dimensions: Height: 234mm, Width: 156mm,
Weight: 453g
ISBN: 9780415154710
ISBN 10: 0415154715
Pages: 224
Publication Date: 28 June 2001
Audience: College/higher education , Professional and scholarly , Professional & Vocational , Primary , A / AS level
Format: Hardback
Publisher's Status: Active

Viktor J Vanberg