Conceptualizing the Space of Markets: How Spatiality Influences Market Dynamics

From the emergence of Starbuck's and the coffee movement in Seattle to the role of Hollywood in Los Angeles' fashion and design markets (Molotch 2002; 2003), there is something "in the air" (Marshall 1890, 332) that explains why companies and industries tend to aggregate in certain places over others. Such localized industries benefit not only from a common talent pool and knowledge spillovers (Marshall 1890), but also from the specific culture associated with these spaces (Molotch 2002, 2003).