The Social Construction of the Market

Storr, Virgil Henry

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The Social Construction of the Market

Society, Vol. 47, No. 3, pp. 200-206, 2010

7 Pages Posted: 19 Nov 2010

See all articles by Virgil Henry Storr

Virgil Henry Storr

George Mason University - Department of Economics; George Mason University - Mercatus Center; University of Arizona Center for the Philosophy of Freedom

Date Written: April 1, 2010

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.

Keywords: Berger, Social Construction, Markets, Austrian Economics

Suggested Citation: Suggested Citation

Storr, Virgil Henry, The Social Construction of the Market (April 1, 2010). Society, Vol. 47, No. 3, pp. 200-206, 2010, Available at SSRN: https://ssrn.com/abstract=1711319