Fieldnote #21: In which we survey the word market and offer six design principles for Idea Factory Market

What is a market?

The term ‘market’ encapsulates a vast spectrum. Its meaning ranges from the macro-scale of $100 trillion coursing through global stock exchanges, to the local ambience of a local fruit and vegetable stall or coffeeshop.

Mirroring this are the markets of the art world. Top contemporary artists, like many of London’s Young British Artist (YBA) generation, command astronomical sums for their work. And a new generation of local craftspeople and artisans are trying to make a living out of their craft by becoming expert at marketing using social media tools like Etsy, Instagram and Pinterest.

Visiting a market is often positioned as a leisure pursuit and tourist activity. It is a weekly ritual, offering a way to relax, feel inspired, and social connection.

But the shadow of markets are environmental catastrophes, labour exploitation and the commodification of human relationships.

They are a growing part of nightlife. Nightclubs are becoming a space for subcultural markets, and ‘zine fairs serve as a way for collectives to come together.

Today, the converted shipping container stands as a symbol of gentrification synonymous with the ethos of hipster culture. London’s famed Camden market in particular stands as a nexus in the battle between developers and society.

Markets are engrained in popular culture. In London’s iconic soap opera, Eastenders, and its classic comedy show, Only Fools and Horses, markets serve as a main setting.

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Thinking about markets has prompted us at S61 to define six C’s for using markets as an organising form:

Six C’s of Idea Factory Market

• Creativity: a gallery where market stalls morph into art installations
• Commerce: a platform where purchases empower the alternative economy
• Community: a communal space to share your experiences and access support
• Culture: a playground to collide with new creators and explore new styles
• Conversation: a forum for subversive discussions
• Collaboration: a centre to join forces with fellow revolutionaries