Pasar Tradisional: Antara Antropologi Ekonomi Substantif Dan Ekonomi Formalis (Studi Kasus: Lima Pedagang Di Pasar Lau Baleng Kabupaten Karo)

Abstract

This study aims to understand the economic dynamics in the traditional Lau Baleng Market through the lens of economic anthropology, specifically by applying two major theoretical approaches: substantive economics and formalist economics. The substantive approach, popularized by Karl Polanyi, views economic activities as inherently embedded in social and cultural systems. In contrast, the formalist approach sees economic behavior as rational actions focused on the allocation of scarce resources to maximize profit. This research employs a qualitative method with an ethnographic approach, involving direct observation and in-depth interviews with five traders at Lau Baleng Market. The findings reveal that the traders' economic activities are not purely rational in the formalist sense but are deeply influenced by social values, kinship relations, solidarity, and local cultural norms. Traders make economic decisions not only based on profit and loss calculations but also on social ties and community traditions. These findings underscore that traditional markets like Lau Baleng are complex economic spaces where formalist and substantive logics intersect and interact. This study contributes to a deeper understanding of traditional markets as economic arenas that cannot be fully explained through modern economic theories alone, but must be understood contextually and culturally.