Home Forum Political Economy Market As Metaphor Reply To: Market As Metaphor

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Jonathan Nitzan
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Scot,

Your notion of a “market” refers to the neoclassical setting of perfect competition. But this is only one possible setting, even in neoclassical theory. In capitalism, a market is a setting where commodities are exchanged (usually) for money. This is a very general definition that can accommodate any commodity/ies, participants, institutions and patterns of activity.

If you get rid of this concept, how would you describe the reality it refers to?