SOCIOLOGY OF MARKETS

This paper surveys sociological approaches to the study of markets. Af ter considering the economic approach, I delineate the wide range of t heoretical schools, including alternative schools in economics, econom ic anthropology, cultural sociology, the embeddedness approach, and th e new political economy. I also briefly discuss recent debates on the transition from planned economy to market and on globalization. I conc lude by noting the difficulties of theorizing about the historical and institutional complexity of markets.