Feminist legal scholars have long exposed the mutually constitutive relationship between the market and the social sphere, particularly, of the family, as mediated by the state. A peculiar division of labour has emerged in American feminist legal theorizing on the market in the context of care work, on the one hand, and sex work on the other. Care is valorized, thus entrenching the family‐market dichotomy while the sex‐work debates view the market as a source of harm and violence and therefore to be eliminated from the social. This produces a problematic feminist understanding of the market and generates legal reforms that produce unintended consequences for women themselves. The article offers an economic sociology of law pursued in legal ethnographic terms as a way of revitalizing contemporary feminist legal thought on the market and, indeed, the economy, illustrating its use in the context of international anti‐trafficking law and transnational surrogacy.