From Opportunity to Imperative: The History of the Market
AbstractJust about every definition of the "market" in the dictionary connotes an opportunity: as a concrete locale or institution, a market is a place where opportunities exist to buy and sell; as an abstraction, a market is the possibility of sale. Goods "find a market," and we say there is a market for a service or commodity when there is a demand for it, which means it can and will be sold. Markets are opened to those who want to sell. The market represents "conditions as regards, opportunity for, buying and selling" (The Concise Oxford Dictionary). The market implies offering and choice.
This article can also be found at the Monthly Review website, where most recent articles are published in full.
Click here to purchase a PDF version of this article at the Monthly Review website.
Please see here for reprint requests.