Beyond the one best market: an essay on trans-economic exchange rates

Steffen Roth

EconStor Open Access Articles and Book Chapters, 2010, vol. 130, issue 5, 66-79

Abstract: We routinely trust organizations that convert belief, truth, health, power, or beauty into money. Nonetheless, we know almost nothing about the corresponding exchange rates. Based on a system theorist concept of functional differentiation and the Bourdieueconomic forms of capitals, the paper presents strong evidence for the existence of non-economic markets for the mentioned values. The conclusion of the paper is that organizations with a more polyphonic, non-reductionist self- and market concept can act strategically as change agencies between those “markets of society”, i.e. they can influence the exchange rates between economic and non-economic values in terms of trans-political trade cycle politics.

Keywords: Market; Luhmann; Social Systems Theory; Polyphony; Functional Differentiation (search for similar items in EconPapers)
JEL-codes: A14 Z13 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:104610

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