13 thoughts on “Markets Are The New Culture

  1. “Of course, market forces really are a fiction.”
    Why are RIM and Nokia on the path to bankruptcy?
    I would attribute that to “market forces.”

    “Free Markets” do not exist in the positive Republican Party sense or in the negative implications implied by the Democratic Party.
    “Free Markets” is a slogan.

    “Markets” do exist. They existed in the USSR and they exist in North Korea.
    People will attain what they desire.
    Whether that be: drugs, guns, Levis or really crappy Pop music.

    You can attempt to make markets “fairer,” but what that usually translates to is making incumbents richer.Report

      1. Sorry if I misinterpreted, but you should not interpret that as “unfortunately expected.”
        I have a problem with “nuance.” It really cramps the social life and mostly deters me from online interaction.
        In short, it was not an ideological reaction – just a misreading.
        I apologize.
        Back to the drawing board.Report

  2. Of course, market forces really are a fiction. A mutually agreed upon one, to be sure, but only as tangible as we allow them to be.

    I think I see what you’re saying Erik, but I think market forces are much less contingent that culture is. Market forces are the product of how people respond to incentives, and that’s something that doesn’t really vary among humans, certainly nowhere near as much as culture does.Report

    1. Except that, in abstract, culture doesn’t vary all that much either. Really, culture is just how we respond to each other (in groups, at least). I’d suggest that those things are as invariant, in the abstract, as our responses to incentives. Granted, incentives constitute a small set of social conditions, while culture is composed of significantly more of them, but all that really means is that culture allows for more combinations of largely invariant (in the abstract) behavior patterns.Report

      1. I see what you mean Chris. If the suggestion is that having culture and having markets are both quintessentially human traits, then I agree. Min you I’m not sure I’d call either fictional. After all, just because something’s invented, doesn’t mean its not real.Report

  3. Why do you believe that markets exist at all?

    This isn’t a leading question. I’m honestly curious how you will answer it.Report

    1. I think markets are a process – an interaction – that functions to various degrees within various given contexts. Fiction is probably me toying a bit with hyperbole and “convention” as you suggest below is likely a better term.Report

  4. Erik, the more I think about this post the more vehemently I disagree with it.

    If the market is a fiction, what would constitute a fact for you? Presumably coercive things count as facts — but not an institution where a person may exercise an uncoerced choice. That’s fictional. Not real. Less worthy.

    It sits badly with your last paragraphs, because the social contract that gives us the chance to settle such issues peacefully is equally a fiction, in your sense, and the skepticism you express toward the market falls equally on it.

    May I suggest using the word “convention” instead? It carries a good deal less normative and ontological baggage. No one doubts the reality of conventional things, or the fact that humans may change them (with real consequences, of course). Conventions may be helpful or harmful, and each must be evaluated on its own merits.Report

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