What is the meaning of the reification of markets in the mentioned context?

But there are implicit values at work in neoliberalism. These include individualism, competition, technology, the reification of markets and (after Adam Smith) the belief that the pursuit of self-interest leads to socially beneficial results. Source

I know the meaning of reify:

to consider or represent (something abstract) as a material or concrete thing: to give definite content and form to (a concept or idea) Source

But what it precisely means to reify markets?

  • 1
    I'm not sure, hence a comment rather than an answer, but "markets" such as the DJIA or FTSE100 are often considered to have a special significance of their own which is over and above the significance of its constituent companies. That doesn't seem entirely fallacious, but neither is it unproblematic. Aug 9, 2017 at 16:40

1 Answer 1


Reification, believe it or not, is a Marxist concept. The basic idea here is that markets become the dominant paradigm of society. Everything is for sale. Everyone is a profit center. The most important goal is amassing wealth. Everything else is secondary.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.