Sociology of Markets

Abstract

This paper surveys sociological approaches to the study of markets. Afte considering the economic approach, I delineate the wide range of theoretical schools, including alternative schools in economics, economic anthropology, cultural sociology, the embeddedness approach, and the new political economy. I also briefly discuss recent debates on the transition from planned economy to market and on globalization. I conclude by noting the difficulties of theorizing about the historical and institutional complexity of markets.