Abstract
Marketing science is built on a foundation of economic science, which in turn is founded on Adam Smith's normative notions of how to create national wealth in the context of industrialization, rather than on a positive theory of economic exchange. This paper explores the formation of economic theory, discuss its role as a foundation for marketing theory, suggest the need for a positive theory of the market that is relatively independent of economic theory, and point towards a possible path for its development.
Keywords
NormativeContext (archaeology)Foundation (evidence)EconomicsPositive political theoryPositive economicsIndustrialisationAdam smithSociologyNeoclassical economicsMicroeconomicsPolitical scienceGame theoryMarket economy
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Publication Info
- Year
- 2007
- Type
- article
- Volume
- 15
- Issue
- 1
- Pages
- 53-60
- Citations
- 122
- Access
- Closed
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Cite This
Stephen L. Vargo
(2007).
On a Theory of Markets and Marketing: From Positively Normative to Normatively Positive.
Australasian Marketing Journal (AMJ)
, 15
(1)
, 53-60.
https://doi.org/10.1016/s1441-3582(07)70029-0
Identifiers
- DOI
- 10.1016/s1441-3582(07)70029-0