A Postmodern Philosophy of Markets

Author(s): Nooteboom, Bart

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Abstract \xa0 Postmodern thought yields ideas that help to foster a better understanding of markets: in particular, of the dynamism of markets, and the interplay between firms and their environment on which this dynamism is based. The view of markets that postmodernism inspires is one of ongoing disequilibrium, of learning by doing and by interaction, of change of perception and technology, of intersubjective difference, of product differentiation. In economics, it links up with Austrian and, in particular, Schumpeterian views rather than with neoclassical orthodoxy. Relevant ideas from postmoderism are discussed, as well as the resulting perspectives on markets in the fields of industrial organization, marketing, and transaction cost economics. The analysis focuses on de Saussure (1979) theory of language, which constitutes one of the sources of postmodernism.
Publication Title International Studies of Management & Organization
Publisher M. E. Sharpe
Publication Date 07/1992
URIs http://www.jstor.org/stable/40397208
Keywords Analysis
Business-to-business market
Corporate culture
Organization theory
Organizational behavior
Social change
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