Purpose – To identify essential building-blocks in the construction of the Latvian market after the Latvian transition to a market economy.

Design/methodology/approach – The research uses a social constructivist approach to deconstruct the Latvian experience of economic change. The Latvian market is viewed as socially constructed, and essential events in the economic transition and national independence are viewed as essential to the interpretation of the Latvian experience of inclusion in the global economy.

Research limitations/implications – The research is limited to Latvia, but is portrayed against the change taking place in Eastern Europe and the Baltic States in particular.

Practical implications – The practical implications of this research are many, and could be taken into consideration not least by enterprises investing in the Latvian economy.

Originality/value – The value of the paper lies in the interpretations of the broader context of the Latvian market and some of the conditions in which enterprises are managed. The Latvian experience of transition is a background for reaching a better understanding of Latvian society.