Markets Hierarchies and Networks

This text presents a set of articles which attempt to answer basic questions on the co-ordination of social life by using models of markets, hierarchy and networks. These three models aim to provide a basis for the analysis of social life that transcends time and place. This interdisciplinary reader provides a distinctive introduction to the way social, political and economic life is coordinated. It brings together three quite different models of coordination - markets, hierarchies and networks - and places them into a comparative framework, presenting a comprehensive and insightful overview of social coordination. The articles dealing with each model explore the characteristics of that coordinating mechanism, outlining key theoretical issues and drawing on various empirical examples. The final section shows how these models can be compared and contrasted. It also assesses the respective strengths, weaknesses and limitations of each model. Markets, Hierarchies and Networks is a set book on The Open University course D212 Running the Country.