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By Steven Pressman (eds.)

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But the modern economy is different because its rules and norms are shaped by the requirements of the economy. The predominant line of James Ronald Stanfield and Jacqueline B. Stanfield 37 causation is reversed. The economy was previously subordinate to the other social realms which constrained economic activity and set the hue and temper of social life. The modern economy is, by contrast, superordinate to social life in general and economic desiderata are necessarily prescriptive and influence family life, friendships, leisure, and mythology, actively so, in a way totally different from the more proscriptively limiting influence of the economy in previous eras.

Even more clearly to the point, Knight continues: Every member of the society is to act as an individual only, in entire independence of all other persons. To complete his independence he must be free from social wants, prejudices, preferences, or repulsions, or any values which are not completely manifested in market dealing. Exchange of finished goods is the only form of relation between individuals, or at least there is no other form which influences economic conduct. And in exchanges between individuals, no interest of persons not parties to the exchange are to be concerned, either for good or ill (Knight, 1971: 78).

The point then is that the market economy is placed in society in an entirely different way from the other two processes for integrating the division of labor, reciprocity and redistribution, which may operate within various patterns of social and political mores. The necessary market society is largely subservient to the economy. [0]nce man's everyday activities have been organized through markets of various kinds, based on profit motives, determined by competitive attitudes, and governed by a utilitarian value scale, his society becomes an organism that is, in all essential regards, subservient to gainful purposes.

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