 The term “economy” describes the productive and distributive activities of a region or country, which includes markets, but also the legal framework within which they take place, as well as the organizations within markets, such as households and corporations (on the latter see recently Ciepley 2013 and Anderson 2017). The latter’s internal structure is typically hierarchical and bureaucratic and thus quite different from the structure of  markets.[1]  In many countries, the “economy” also includes a state sector as well as mixed forms, such as private-public partnerships. It can also include other forms of redistribution such as charities or “black markets”. Polanyi has provided a classic categorization of allocation mechanisms: he distinguishes between reciprocity (based on symmetrical relations), redistribution (based on centricity: a central authority collects the goods and hands them out to individuals), autarky (production for one’s own use) and markets (1944, ch. 4). This shows that markets are only one form in which goods and services can be allocated in a society. Insofar as other structures – e.g., hierarchical structures within corporations – continue to play a role in economic systems, it is misleading to conceptualize them as pure “market economies.”