This article discusses cross-cultural parallels in moral debates about
the expansion of market relations to new areas of social life, with p
articular reference to our ethnographic work on the commoditization of
resource rights in Iceland. Expanding a theoretical approach introduc
ed by other scholars, we propose that spatial metaphors can provide an
effective means of conceptualizing the anthropological study of commo
ditization. By attending to the pathways, spheres and boundaries that
guide the exchange of social things and the discursive environment wit
hin which transactions are negotiated, anthropologists can begin to un
cover the dynamics of the moral landscape of the economy. Such an appr
oach, we argue, salvages the concept of exchange from the rather restr
ictive dualism of embedded and disembedded economic behaviour. The res
ult is an expansion of the economy as an anthropological object of stu
dy, and a challenge to neo-classical claims of an all-embracing accoun
t of economic life in the West and elsewhere.