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Title: | Market Power Extended: From Foucault to Meadows | Authors: | BIELY, Katharina Dries, Maes VAN PASSEL, Steven |
Issue Date: | 2018 | Source: | Sustainability, 10(8), p. 1-23 (Art N° 2843) | Abstract: | Market power is a complex matter that is approximated with quantitative indicators within economics. However, these indicators may not fully capture market power, or they may fail to identify it, although it may be present. Moreover, a quantitative approach restricts market power as a concept, impeding the ability to discuss its relationship with other concepts, such as sustainability. This paper extends the definition of market power, following Foucault’s understanding of power and the associated theoretical discussions of power from different disciplines. We extended Foucault’s work by including systems thinking to capture the importance of the prevalent system’s paradigm, which is the ultimate initiator of action. Apart from distinguishing different elements of power, we also integrate an instrumental view on the elements of power. The developed frame allows us to understand the dynamic character of power as a force that strives to maintain or ameliorate the position of the paradigm that it serves. Based on this frame, we outline how this extended understanding of power can be used to analyze market power itself, and its relation with sustainability | Notes: | Biely, K (reprint author), Hasselt Univ, Fac Business Econ, Ctr Environm Sci, B-3500 Hasselt, Belgium. katharina.biely@uhasselt.be; dries.maes@ewi.vlaanderen.be; steven.vanpassel@uhasselt.be | Keywords: | power; market power; Foucault; sustainability; systems thinking | Document URI: | http://hdl.handle.net/1942/26677 | Link to publication/dataset: | http://www.mdpi.com/2071-1050/10/8/2843 | e-ISSN: | 2071-1050 | DOI: | https://doi.org/10.3390/su10082843 | ISI #: | 000446767700259 | Category: | A1 | Type: | Journal Contribution | Validations: | ecoom 2019 |
Appears in Collections: | Research publications |
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File | Description | Size | Format | |
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Market Power Extended: From Foucault to Meadows.pdf | Published version | 1.53 MB | Adobe PDF | View/Open |
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