Theory of Culture and Market by Wherry: Caste and Cultural Impact in Indian Market

Abstract

The sociology of the market with the focus of cultural impact in the market demand and supply studies by Wherry and others is central part as a theoretical base to argue the idea of oppressed culture in India and its impact on the oppressed castes in Varna System and other marginalized groups, including women. In unequal caste and gender-based society, the market demands services and products that treat lower caste and women as a secondary stakeholder and keep them away from playing the role of a mainstream seller or buyer. The article focuses on business strategies in India where caste-based hierarchical culture is observed in businesses. The article also deals with the theoretical concepts such as caste, culture and market with arguments by Dr Ambedkar and Wherry with other references. The theoretical base of the article is drawn from Wherry’s book and builds on the argument with empirical data from India. The author tried to seek answers to three questions stated in the last part of the introduction. The author has used both qualitative and explorative data from various sources.