Chapter 8: Is everything already a market?
Restricted access

The term market universalism refers to the non-metaphorical use of the word market to describe various non-market arrangements or processes in the real world. It is shown that the terms ‘market for ideas’ and ‘political markets’ (and close variants) have risen dramatically in usage since the 1960s. The chapter distinguishes between metaphorical and non-metaphorical uses of market terminology. The focus is on cases where something that is not literally a market is non-metaphorically described as such. A number of minimal features of a market are specified. It is established that there is not generally a ‘market for ideas’ and ‘political markets’ are limited or illegal. The ‘market for laws’ is similarly criticised. Market universalism impoverishes the concept of a market. The importance of blocking markets from some spheres of human activity is also neglected. The theoretical and practical importance of missing markets is also overlooked.

You are not authenticated to view the full text of this chapter or article.

Access options

Get access to the full article by using one of the access options below.

Other access options

Redeem Token

Institutional Login

Log in with Open Athens, Shibboleth, or your institutional credentials

Login via Institutional Access

Personal login

Log in with your Elgar Online account

Login with you Elgar account