| The neoclassical concept of the market dominates economic discourse. I argue for an alternative conceptualization of economic exchange. I formulate a sociological approach in which the market is analyzed as a concrete structure of social relations constituted by traders. Rather than seeking the abstract laws that govern the operation of the invisible hand, I propose to investigate the visible hand of traders and the actual social organizations of commodity exchange.; I use this conception of the "market as social organization" to analyze the commercial development of England and Japan. The dominant view of the origin of market society postulates a homogeneous and continuous expansion of the market due to individuals' propensity to "truck, barter, and exchange." I challenge the vision by delineating a sociological perspective on the economy. Through this sociological prism, heterogeneous and qualitatively distinct social organizations of commodity exchange become visible. Moreover, I am able to identify macrostructural changes to account for these historical ruptures in the structure of exchange relations.; I also elaborate the concept of "mode of exchange," which is defined as a social organization of commodity exchange constituted by traders under historically specific technological and socio-institutional constraints. I present a four-fold typology of modes of exchange in which qualitative breakthroughs in physical extent and social relations of exchange are highlighted. Each mode of exchange is embedded in and reflects the underlying social structure. Thus, I offer another four-fold typology in which the macro-sociological bases of each mode of exchange are elucidated. Together, these typologies provide a tool for the analysis of macro-historical variations in mode of exchange. |
