chapter  2
10 Pages

The Genealogy of Markets: Why Do Markets Exist?

This chapter inquires into the moralization of markets in modern, developed societies to examine whether the economic system once established in this manner as a separate social entity has reached a kind of fixed state in its development. It also enquires that if it can be shown that there is a turning away from a social formation still widely recognized as paradigmatic in many descriptions and desired practices of the modern economy. The chapter also explores the discussion of competing accounts of the nature of the market that helps in advancing an understanding of the moralization of the markets in modern societies. The society develops ways of recognizing and accepting the unique codes of conduct that govern economic affairs. The economic system is complicit in the general suffering, exploitation, inequality, alienation, and reification of large segments of society. It is the dissonance of the loss of freedom through freedom.