The Social Construction of the Market |
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Authors: | Virgil Henry Storr |
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Institution: | (1) Mercatus Center, George Mason University, 3301 N. Fairfax Dr., Suite 450, Arlington, VA 22203, USA |
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Abstract: | Although Berger and Luckmann do not specifically discuss the market, they would undoubtedly agree that the market is socially
constructed. Indeed, the market is a product of social action that has an objective and subjective reality. Inspired by Berger
and Luckmann’s work, this paper will describe the social construction of the market. Specifically, it will focus on the Austrian
understanding of the market. It is my contention that the Austrians have articulated a “sociology of the market” that is consistent
with Berger and Luckmann’s approach. |
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