The market / Matthew Watson.

Format:

Book

Author/Creator:

Watson, Matthew, 1969- author.

Language:

English

Subjects (All):

Markets.

Economics--Sociological aspects.

Economics.

Economic policy.

Physical Description:

1 online resource (viii, 174 pages) : digital, PDF file(s).

Place of Publication:

Newcastle upon Tyne : Agenda Publishing Limited, 2018.

System Details:

Mode of access: World Wide Web.

Summary:

We have become accustomed to economists and politicians talking about 'market forces' as if they are immutable laws of the universe. But what exactly is 'the market'? Originally an abstract idea from economic theory - the locus of supply and demand - it has come to inform the way we speak about our relationship to the economic system as a whole. <br><br>Matthew Watson unpacks the concept to ask what does it really mean to allow ourselves to submit to market forces. And does economic theory really provide insights into the market institutions that shape our everyday life? In tackling these questions, the book provides a major contribution to a deeper appreciation of the dominant economic language of our time, challenging the idea that we can simply defer to the 'logic of the market'.

Contents:

1. Introduction

2. The market concept in triplicate

3. Symmetrical moral relationships : Adam Smith's impartial spectator construct

4. Demand and supply in partial equilibrium : the Marshallian cross diagram

5. Vectors of market-clearing prices : the Walrasian auctioneer

6. The political rhetoric of "the market"

7. Conclusion.

Notes:

Title from publisher's bibliographic system (viewed on 09 Aug 2023).

Includes bibliographical references (pages 149-166) and index.

ISBN:

9781788211291

1788211294

9781911116622

1911116622