The Social Construction of a Perfect Market: The Strawberry Auction at Fontaines-en-Sologne

In: Voprosy ėkonomiki: ežemesjačnyj žurnal, Issue 8, p. 73-89

Abstract

The article examines social conditions and mechanisms of the emergence in 1982 of a «Dutch» strawberry auction in Fontaines-en-Sologne, France. Empirical study of this case shows that perfect market does not arise per se due to an «invisible hand». It is a social construction, which could only be put into effect by a hard struggle between stakeholders and large investments of different forms of capital. Ordinary practices of the market dont differ from the predictions of economic theory, which is explained by the fact that economic theory served as a frame of reference for the designers of the auction. Technological and spatial organization as well as principal rules of trade was elaborated in line with economic views of perfect market resulting in the correspondence between theory and reality.