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The Cultures of MarketsThe Political Economy of Climate Governance$
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Janelle Knox-Hayes

Print publication date: 2016

Print ISBN-13: 9780198718451

Published to Oxford Scholarship Online: August 2016

DOI: 10.1093/acprof:oso/9780198718451.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 October 2020

Climate Change Governance

Climate Change Governance

Institutions, Values, and the Culture of Markets

(p.25) 2 Climate Change Governance
The Cultures of Markets

Janelle Knox-Hayes

Oxford University Press

In the process of a detailed engagement with a range of literatures, Chapter 2 provides the substantial theoretical foundations for the book, situating the study as an investigation not only into the process of how emissions markets are formed under different sociopolitical and cultural contexts, but also one of the broader institutions of political economy. Markets are redefined as systems of social governance. The argument is that markets are social institutions both shaped by culture (including sociopolitical norms, geography, and material context) and shape culture as they have the influence to create new systems of environmental governance. It is therefore important to understand markets as institutions. The chapter explores the implications of the cultures of markets for understanding climate policy outcomes.

Keywords:   climate change, governance, values, dissemination, economic systems, political economy, sociology, norms, communication, collective action

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