The paper builds on analyses by Max Weber and Karl Polanyi to argue that ‘free markets’ are politically contituted social organizations. Neo-Marxist analysis is criticized for over-emphasizing the importance of economic and ideological conditions for the remodelling of society along market lines. Recent shifts, for example in Britain, towards market organization are interpreted as a ‘bureaucratic revolution’ (Weber). The paper calls for an analysis of these new structures of domaination and obedience which focuses upon institutions, their parameters and routine actions within them. Finally, questions are raised as to the applicability of the concept of ‘disorganized capitalism’ and of Weber's definition of power to contemporary market society.