Moral Markets: How Knowledge and Affluence Change Consumers and Products

Moral Markets: How Knowledge and Affluence Change Consumers and Products

by Nico Stehr
Pub. Date:
Taylor & Francis


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Moral Markets: How Knowledge and Affluence Change Consumers and Products

Market theories still widely in use today emerged in a society that no longer exists. Consumers were hardly in evidence at all in early theories of the market. Today, growing affluence, greater knowledge, and high-speed communication among consumers build into the marketplace notions of fairness, solidarity, environment, health, and political considerations imbued with a long-term perspective that can disrupt short-term pursuits of the best buy. Importantly, such social goals, individual apprehensions, and modes of consumer conduct become inscribed today in products and services offered in the marketplace as well as in the rules and regulations that govern market relations.

About the Author:
Nico Stehr is Karl Mannheim Professor of Cultural Studies at the Zeppelin University, Friedrichshafen, Germany

Product Details

ISBN-13: 9781594514579
Publisher: Taylor & Francis
Publication date: 07/28/2008
Edition description: New Edition
Pages: 288
Product dimensions: 5.90(w) x 8.90(h) x 0.80(d)

Table of Contents

Preface     vii
Overview     xiv
Introduction     1
World-views, Economic Conduct, and Social Progress     1
The Authority of Economic Man     5
The Decline of Economic Man     7
The Moralization of Economic Affairs     15
The Dynamics of Modern Societies     17
The Virtues of Market Conduct     26
Encircling the Concept of the Moralization of the Markets     29
The Genealogy of Markets: Why Do Markets Exist?     43
The Social Origins of the Market     44
Liberty as the Daughter of Markets     46
The Loss of Freedom Through Freedom     47
Homo Rationalis     49
The Competition among Market Conceptions     53
The Classical Conception of the Market     53
The Great Transformation     55
The Neoclassical View of Market Behavior     57
The Unity of the Market in Its Diversity     62
The Evolutionary Perspective of the Market     64
The Economy of Love and Fear     65
Economies Move Societies     68
Markets as Sociocultural Practices     79
The Critique and the Practical Usefulness of the Standard Model of the Market     80
Sociological Perspectives     82
The Contradictory Critique of the Standard Model of the Market     85
Social Markets: Five Stipulations     87
Explicating the Five Stipulations     89
The Foundations of the Moralization of the Markets     103
Markets, Biotechnology, and Environment     105
Biotechnology Products     107
Environment and Markets     108
Modernity and Morality     109
The Civilization of Capitalism     111
The Logic of Modernity     113
The Knowledge-based Modern Economy     115
The Dawn of Affluent Societies     121
Many Are Well Off     124
The Poverty of Affluence     127
The Advent of Mass Society     134
New Dangers of Prosperity     140
Mass Consumption     144
The Embedded Consumer     146
Knowledgeability and Economic Conduct     161
Human Capital     162
Cultural Capital     163
Knowledge as a Capacity to Act     167
Biotechnology, Environment, and the Market     175
The Commonalities of Biotechnology and the Environment     175
The Market for Biotechnological Processes and Products     178
The Empirical Evidence     182
The Environment and the Market     186
The Empirical Evidence     188
The Extension of the Moral Bases of Economic Conduct     197
Economic Growth and the Moralization of the Markets     197
The Globalization of the World     201
Markets in an Age of Ecological and Global Modernization     205
Conclusions and Prospects     211
Statistical Appendix     217
Bibliography     225
Name Index     261
Subject Index     266

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