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The Culture of Markets
What are the logics of pricing, and why do some pricing schemes defy standard economic expectations? What explains the different labor market outcomes of people who receive the same training from the same place and who have similar grades? Why do national governments issue statements about the country’s history and personality when developing economic policies, and why are struggles over the images pictured on money so hard fought?
This engaging book locates the answers to these and other questions in the cultural logics and dynamics that constitute and guide markets. Using clear prose and illustrative examples, Frederick F. Wherry demystifies what culture is, and how it can be identified both in the way that markets are organized and in the way that people operate within them.
The Culture of Markets offers a comprehensive introduction to the puzzles found in studies of markets and to the ways that cultural analyses address those puzzles. The clarity of the arguments will make this a welcome resource for upper-level students of cultural sociology, economic sociology, and business/marketing.
This engaging book locates the answers to these and other questions in the cultural logics and dynamics that constitute and guide markets. Using clear prose and illustrative examples, Frederick F. Wherry demystifies what culture is, and how it can be identified both in the way that markets are organized and in the way that people operate within them.
The Culture of Markets offers a comprehensive introduction to the puzzles found in studies of markets and to the ways that cultural analyses address those puzzles. The clarity of the arguments will make this a welcome resource for upper-level students of cultural sociology, economic sociology, and business/marketing.
180 pages, Paperback
First published December 16, 2011
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Displaying 1 - 4 of 4 reviews
December 24, 2012
One of the key effects of the dominance of neo-liberal outlooks has been the seemingly unquestioned naturalisation of the market; it is precisely this sort of obfuscation that the growing significance of cultural sociology as a sub-discipline has helped undermine. In this excellent short exploration of the sociology of markets as cultural institutions Wherry does two key things.
The first is that he sets out to explore why, if the market is ‘natural’, it takes on different forms in different settings. To do this, he unravels three central questions to explore the cultural characteristics of demand, supply and money and prices. This is more than just the difference in items, products or commodities traded and exchange in markets, but also differences in the kinds of things that it is legitimate to exchange via markets as well as difference in the ways those exchanges take place and are valued.
The other aspect of the book is methodological, as Wherry sets out ways to undertake cultural analyses of markets to sketch the broad shape of historical and ethnographic analyses of markets as cultural phenomenon, wrapping the discussion up with handy hints on how to retain a cultural focus.
These two things in themselves make this a valuable and extremely useful introductory text for upper-level undergraduates looking to develop some specialist understanding of the culture of markets. It should be read by students in both social science and business programmes, and used widely by teachers in those programmes. Wherry takes the case one step further though in an excellent final chapter to where he establishes two typologies – one outlining cultural and economic depictions of market activity and the other dealing with culture as predicting market outcomes.
Sharp, well written, engaging and evidence rich, this is an extremely useful text.
The first is that he sets out to explore why, if the market is ‘natural’, it takes on different forms in different settings. To do this, he unravels three central questions to explore the cultural characteristics of demand, supply and money and prices. This is more than just the difference in items, products or commodities traded and exchange in markets, but also differences in the kinds of things that it is legitimate to exchange via markets as well as difference in the ways those exchanges take place and are valued.
The other aspect of the book is methodological, as Wherry sets out ways to undertake cultural analyses of markets to sketch the broad shape of historical and ethnographic analyses of markets as cultural phenomenon, wrapping the discussion up with handy hints on how to retain a cultural focus.
These two things in themselves make this a valuable and extremely useful introductory text for upper-level undergraduates looking to develop some specialist understanding of the culture of markets. It should be read by students in both social science and business programmes, and used widely by teachers in those programmes. Wherry takes the case one step further though in an excellent final chapter to where he establishes two typologies – one outlining cultural and economic depictions of market activity and the other dealing with culture as predicting market outcomes.
Sharp, well written, engaging and evidence rich, this is an extremely useful text.
May 14, 2019
Wherry roadmaps too often and offers little substance in the examples. The book is structured in a way that the concepts are not academically defined and the weak examples do not provide the "experiential learning" that the back of the book reviews rave about.
I do, however, enjoy his MLA citations as he cites very recent research from notable researchers in the field. I just wish he took more time to expound on these.
The best chapters are 3 (Monies) and 4 (Application and Definition). These chapters are as smooth as butter and you can feel the author's pride. I would skip the introduction, Chapter 1 (Demand) and Chapter 2 (Supply). These chapters feel phoned in, careless foundation that doesn't go a great job of supporting Wherry's excellent latter chapters
I do, however, enjoy his MLA citations as he cites very recent research from notable researchers in the field. I just wish he took more time to expound on these.
The best chapters are 3 (Monies) and 4 (Application and Definition). These chapters are as smooth as butter and you can feel the author's pride. I would skip the introduction, Chapter 1 (Demand) and Chapter 2 (Supply). These chapters feel phoned in, careless foundation that doesn't go a great job of supporting Wherry's excellent latter chapters
August 3, 2016
Excellent argument for a sociology of culture approach to the study of markets. Highly recommended.
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January 24, 2018The Cultural Roots of Market Demand
The Cultural Dimensions of Market Supply
Te Culture of Money and Prices
The Cultural Dimensions of Market Supply
Te Culture of Money and Prices
This entire review has been hidden because of spoilers.
Displaying 1 - 4 of 4 reviews