ABSTRACT
The emergence of professional markets in the competitive phase of capitalism was an accessory development in a much more formidable transformation. The constitution of modern professional markets represents one more instance of social reorganization around the "cash nexus," since a market society means that the money bond has become a predominant principle of social cohesion. The professions were in a special position: unlike the early capitalist industries, they were not exploiting already existing markets but were instead working to create them. The "great transformation" presented the professional "entrepreneurs" with expanding and "free" markets: despite the profound differences in social structure among the national societies that underwent the transformation, the general task of professional organization had similar structural requirements. The structure of a particular professional market is determined by the broader social structure which shapes the social need for a service and therefore defines the actual or potential publics of a given profession.
