Recently, economic sociologists have tended to view markets as embedded in social relations and social networks, the structures they see as defining markets and framing economic action. This chapter draws a distinction between two types of markets: those based on a network architecture where social relationships carry much of the burden of specifying market behavior and of explaining some market outcomes, and markets that have become disembedded and decoupled from networks and exhibit what I shall call a flow architecture. [...] Though flow-architectures may include networks, these networks are not the salient structuring principle of a global microstructurc. Flow architectures [...] also involve global "scopic" systems that project market reality while at the same time carrying it forward and allowing it "to flow'.