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The thesis of the loss of the perfect market


Waters, M, The thesis of the loss of the perfect market, British Journal of Sociology, 46, (3) pp. 409-428. ISSN 0007-1315 (1995) [Refereed Article]

DOI: doi:10.2307/591849


The prevailing sociological theory of transformation in the societal market is that it progressively deperfectionalizes. This is a myth linked to prevailing beliefs in Anglo-Saxon societies about the decline of laissez faire. The so-called laissez-faire period was in fact characterized by effective status constraints on the exchange of both labour and commodities. Organized or state-monopoly capitalism in fact expanded, opened and derestricted markets. Under current conditions of disetatization and organizational downscaling, markets are experiencing a further burst of perfectionalization. The myth of deperfectionalization persists because it appeals to both nostalgic and critical ideologies.

Item Details

Item Type:Refereed Article
Research Division:Human Society
Research Group:Sociology
Research Field:Social theory
Objective Division:Expanding Knowledge
Objective Group:Expanding knowledge
Objective Field:Expanding knowledge in human society
UTAS Author:Waters, M (Professor Malcolm Waters)
ID Code:6173
Year Published:1995
Web of Science® Times Cited:2
Deposited By:Sociology
Deposited On:1995-08-01
Last Modified:2011-08-25

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