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| Author: | Biesecker, A. |
| Title: | The market as an instituted realm of social action |
| Journal: | Journal of Socio-Economics
1997 : VOL. 26:3, p. 215-241 |
| Index terms: | SOCIAL ECONOMICS MARKETS ECONOMICS |
| Language: | eng |
| Abstract: | The economy of modern societies is a market economy and will remain a market economy in the future. We have to live with the market and so we have to construct a market we can live with. Such a market should be guided by rules of fairness and caring for people and for nature. This transformation of the market, however, will only be possible if we look at the economy as a part of society and at the market as a realm of social action. In such a concept, economic rationality includes communicative rationality; economic action includes action oriented to reaching understanding. |
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