Problem
The text refers to the treatment of the market in economics as a theoretical concept devoid of social and institutional features. Clearly there are many differences among different types of market. But are these important for economists? For example, the business of financial markets used to be conducted face-to-face on the floors of organized exchanges but is now conducted very largely by telephone and the internet. Is this change likely to have had any economic significance? If so, why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.