Markets, rules and institutions of exchange

by Stan Metcalfe (Editor), Mark Harvey (Editor)

Overview

This book is about how to understand the huge variety of markets and market organisation in contemporary economies through a dialogue between a group of UK and French scholars. It presents a critique and development of institutional views of markets, and ‘puts markets in their place’ in a wider political and social context.

In the wake of the 2008 financial crisis in markets, the book makes a topical and significant contribution on the importance of the rules and regulations that constitute markets, and their broader political and legal frameworks. Moreover, the disruption of markets brings to the fore their interconnection with the broader economy, with production, distribution and consumption in a way often ignored at the height of market bubbles.

Both theoretical and empirical, a wide range of markets are considered, capital markets for new technology and venture capital, for food, domestic services and scientific knowledge. The authors address how markets emerge and disappear, or indeed why they fail to appear, as well has how they become stable and institutionalised.

Product Details

ISBN-13:	9780719076701
Publisher:	Manchester University Press
Publication date:	08/02/2010
Series:	New Dynamics of Innovation and Competition
Pages:	200
Product dimensions:	6.40(w) x 9.30(h) x 0.90(d)

About the Author

Mark Harvey is Professor in the Department of Sociology and Director of the Centre for Research in Economic Sociology and Innovation at the University of Essex

Table of Contents

List of tables, figures and boxes ix

1 Introduction: putting markets in their place Mark Harvey 1

2 The market, institutions and transactions Benjamin Coriat Olivier Weinstein 32

3 Markets, the organisation of exchanges and 'instituted economic process': an analytical perspective Mark Harvey Sally Randles 62

4 The ordering of change: Polanyi, Schumpeter and the nature of the market mechanism Mark Harvey Stan Metcalfe 82

5 The organisation of exchanges on the venture capital market. Empirical evidence and theoretical issues Dorothée Rivaud-Danset Emmanuelle Dubocage 111

6 The failure of the French New Market and the dynamics of rules Valérie Revest 133

7 Markets as systems of rules: the case of local household services in France Patrick Haddad 155

8 Making biological knowledge private and public: the multi-modality of capitalism Andrew McMeekin Mark Harvey 169

Index 186