Dualities in the Organising of Markets

William Anthony Jackson

Dualities in the Organising of Markets

Economics

Research output: Working paper › Discussion paper

Abstract

Economic theory often assumes that traders sell or buy within a market but do not organise it: organising remains separate from trading, in an implicit dualism. This paper argues that we never see organising-trading dualism outside a hypothetical ideal – what we see is duality, whereby organising and trading are distinct but entwined. While the voluntary exchange of property rights is regulated centrally, many details of market trade are decided locally by traders. Such semi decentralised organising generates other dualities, including stability-change, continuity-creativity and standardisation-differentiation. A duality perspective can encompass the apparent contradictions called forth by markets and the complexity that lets them adapt and evolve.

Original language	English
Publisher	Department of Economics and Related Studies, University of York
Pages	1-19
Number of pages	19
Publication status	Published - 2024

Publication series

Name	University of York, Discussion Papers in Economics
No.	24/02

Keywords

markets
organisation
dualism
duality
complexity
evolution

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Cite this

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