SOSC 300K

1
SOSC 300K

• Wrap-up Discussion

2
Major subjects

• What is a market?
• How is market economy structured?
• How does market economy operate
• Market economy of different levels
• Labor market (national-level)
• Global economy (global-level)
• Globalization and transnational Chinese business
  networks (regional-level)

3
Free Market
Market as a social institute
Adam Smith self-regulating market
Karl Polanyi Macro political-economic
embeddedness
What is a market?
4
Variations in market through time
Variations in market across industries
Plus Polanyis emphasis on state
Hamilton and Biggart Authoritative approach
industrial structure in a state
Portes and Sensenbrenner Immigrant economy in the
U. S.
How is market structured?
5
National-level segmented labor market
Global-level international division of labor
(Wallersteins model)
The Asian four tigers
Markets of different levels
6
Karl Polanyi Macro political-economic
embeddedness
Braudel (founder of the annals school, historian
of the Mediterranean trade)
Mark Granovetter Interpersonal embeddedness
Hamilton Chinese ethnic ties and the making of
Chinese capitalism in the Greater China Economic
Sphere
Transnational business networks in maritime Asia