What is the social nature of exchange? Adam Smith, for example, theorized that the desire to persuade others, rather than to profit from them, was the initial impetus for market interaction. People trade ideas and feelings as well as goods. Motives of benevolence, malevolence, and shared sympathy, in addition to self-interest, play motivational roles in exchange, work, and consumption.
The Industrial Revolution dramatically enlarged the scope of goods manufactured by unknown workers and traded in anonymous global markets. The identity of the artisan shrank as the standard of living grew. Foreign currencies, commodities and stocks are sold today by computers and not by persuasion. Yet the modern economy is not dominated by commodities and manufactured goods, rather, it is geared to providing services generally delivered by persons with identities.
For example, micro finance sweeps the world, using social capital (friendships and family) as a form of financial collateral. Call centers in Asia train workers to speak with American accents to create fellow feeling. Modern technology promotes the formation of social networks that enrich and extend personal relationships in many ways, and degrade and trivialize them in others. There is a resurgence of interest in homegrown markets, in which buyers interact face-to-face with local farmers and artisan-vendors.
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For the ASE sessions at the 2013 ASSA meetings we welcome proposals for papers on all aspects of the evolving social nature of exchange. Possible topics include, but are not limited to:
◦Going local: Farmers' and other local markets re-personal
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