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Karl Polanyi and Twenty-First-century Capitalism

Author: Radhika Desai

Publisher:

Published: 2020-06-24

Total Pages: 312

ISBN-13: 9781526127884

As the neoliberal order decays, we recall Polanyi's warning against market domination and his trademark ideas: commodified money, the double movement, the US exception development, the reality of society, and socialism as freedom in a complex society. The contributors consider the links between Polanyi's ideas and income inequality, world systems theory, and comparative political economy.

Karl Polanyi and twenty-first-century capitalism

Author: Radhika Desai

Publisher: Manchester University Press

Published: 2020-07-07

Total Pages: 469

ISBN-13: 1526127903

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As far right movements, social disintegration and international conflict emerge from the decay of the neoliberal order, Karl Polanyi’s warnings against the unbridled domination of markets, is ever more relevant. The essays in Karl Polanyi for the 21st Century extend the boundaries of our understanding of Polanyi's life and work. They will interest Polanyi scholars and all interested in socialism and our future after neoliberalism. One asks whether, following Keynes and Hayek, Polanyi’s ideas will shape the twenty-first century. Some clarify, for the meaning of money as a fictitious commodity. Others resolve difficulties in understanding the building blocks of Polanyi's thought: fictitious commodities, the double movement, the United States' exceptional development, the reality of society, and socialism as freedom in a complex society. And yes others explore how Polanyi sheds light on income inequality, world systems theory, comparative political economy.

Karl Polanyi

Author: Gareth Dale

Publisher: Polity

Published: 2010-06-21

Total Pages: 320

ISBN-13: 0745640710

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Karl Polanyi’s The Great Transformation is generally acclaimed as being among the most influential works of economic history in the twentieth century, and remains as vital in the current historical conjuncture as it was in his own. In its critique of nineteenth-century ‘market fundamentalism’ it reads as a warning to our own neoliberal age, and is widely touted as a prophetic guidebook for those who aspire to understand the causes and dynamics of global economic turbulence at the end of the 2000s. Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi’s ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation, but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancient and archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi’s daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi’s thinking will appeal to students and scholars across the social sciences, providing a refreshing perspective on the roots of our current economic crisis.

The Great Transformation

Author: Karl Polanyi

Publisher: Beacon Press

Published: 2001-03-28

Total Pages: 406

ISBN-13: 080705643X

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In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution. His analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. New introductory material reveals the renewed importance of Polanyi's seminal analysis in an era of globalization and free trade.

Reading Karl Polanyi for the Twenty-First Century

Author: A. Bugra

Publisher: Springer

Published: 2007-10-01

Total Pages: 267

ISBN-13: 0230607187

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Using Karl Polanyi's analysis of the separation of politics and the economy, the book argues that the market economy is not a spontaneous process, but a 'political project' realized through institutional change where labour, land, money, and currently knowledge are commodities. The contributions explore the impact of this commodification process.

For a New West

Author: Karl Polanyi

Publisher: John Wiley & Sons

Published: 2014-11-10

Total Pages: 263

ISBN-13: 0745684475

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At a recent meeting of the World Economic Forum in Davos, it was reported that a ghost was haunting the deliberations of the assembled global elite - that of the renowned social scientist and economic historian, Karl Polanyi. In his classic work, The Great Transformation, Polanyi documented the impact of the rise of market society on western civilization and captured better than anyone else the destructive effects of the economic, political and social crisis of the 1930s. Today, in the throes of another Great Recession, Polanyi’s work has gained a new significance. To understand the profound challenges faced by our democracies today, we need to revisit history and revisit his work. In this new collection of unpublished texts - lectures, draft essays and reports written between 1919 and 1958 - Polanyi examines the collapse of the liberal economic order and the demise of democracies in the inter-war years. He takes up again the fundamental question that preoccupied him throughout his work - the place of the economy in society - and aims to show how we might return to an economy anchored in society and its cultural, religious and political institutions. For anyone concerned about the danger to democracy and social life posed by the unleashing of capital from regulatory control and the dominance of the neoliberal ideologies of market fundamentalism, this important new volume by one of the great thinkers of the twentieth century is a must-read.

The Power of Market Fundamentalism

Author: Fred Block

Publisher: Harvard University Press

Published: 2014-04-30

Total Pages: 311

ISBN-13: 067441635X

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What is it about free-market ideas that give them tenacious staying power in the face of such manifest failures as persistent unemployment, widening inequality, and the severe financial crises that have stressed Western economies over the past forty years? Fred Block and Margaret Somers extend the work of the great political economist Karl Polanyi to explain why these ideas have revived from disrepute in the wake of the Great Depression and World War II, to become the dominant economic ideology of our time. Polanyi contends that the free market championed by market liberals never actually existed. While markets are essential to enable individual choice, they cannot be self-regulating because they require ongoing state action. Furthermore, they cannot by themselves provide such necessities of social existence as education, health care, social and personal security, and the right to earn a livelihood. When these public goods are subjected to market principles, social life is threatened and major crises ensue. Despite these theoretical flaws, market principles are powerfully seductive because they promise to diminish the role of politics in civic and social life. Because politics entails coercion and unsatisfying compromises among groups with deep conflicts, the wish to narrow its scope is understandable. But like Marx's theory that communism will lead to a "withering away of the State," the ideology that free markets can replace government is just as utopian and dangerous.

Economy and Society: Selected Writings

Author: Karl Polanyi

Publisher: John Wiley & Sons

Published: 2018-07-04

Total Pages: 280

ISBN-13: 1509523324

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Few figures are more crucial to understanding the upheavals of our contemporary era than Karl Polanyi. In a world riven by social and economic crises, from rising inequality to the decay of democratic institutions and profound technological disruption, Polanyi’s path-breaking account of the dynamics of market capitalism and his defence of society and nature against the dangerous tendencies of the market capitalist system are more relevant than ever. This book brings together Polanyi’s most important articles and essays to give a unique selection of his essential shorter writings, mixing classic texts with significant but previously little-known pieces. It highlights the coherence and richness of Polanyi’s theoretical and political approach, making it indispensable for understanding his overarching intellectual contribution. The volume includes his interwar writings, which deal with the world economic crisis and the socialist alternative to conservative and fascist developments; his reflection on political theory and the international situation after the war; and his comparative studies of economic institutions. Polanyi’s political writings are complemented and supported by the critique of economic determinism and what he termed ‘our obsolete market mentality’. This book is an invaluable companion to Polanyi’s masterpiece, The Great Transformation, and an essential resource for students and scholars of political economy, sociology, history and political philosophy.

Karl Polanyi's "Great Transformation" and Development Politics

Author: Moritz Deutschmann

Publisher: GRIN Verlag

Published: 2006-11-06

Total Pages: 18

ISBN-13: 3638565769

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Essay from the year 2006 in the subject Politics - Topic: Development Politics, grade: 1,3 (A- in the American system), University of California, Berkeley (Department of Political Science), course: Course in development politics (Prof. Kiren Chaudhry), language: English, abstract: Attempts to understand the transformation processes in the developing world have often led to a closer examination of Europe′s and America′s own history, as many theories of development suggest a specific interpretation of these histories: Modernization theorists, for example, see Europe′s and America′s history mainly as a straightforward progression towards welfare and democracy, eclipsing the aspects that do not fit into this picture, like the World Wars or the American Civil War. Therefore, although Karl Polanyi′s "The Great Transformation" treats mainly historical events in Europe, it can at the same time be an important contribution to our understanding of the economic and social transformations in the developing world. In this essay, I will first try to make clear, what assumptions underlie Polanyi′s argument and what he means by the notion of "market society". I will proceed in three steps: first, I will explore the different roles that the economy, according to Polanyi, plays in capitalist and pre-capitalist societies; I will look then at the historical processes that led to the rise of a "market society". Finally, I will discuss the political reactions to these processes which can be characterized, in Polanyi′s view, by a "double movement". As Polanyi is one of the most important critics of economic liberalism, it is helpful to compare his account of the "Great Transformation" to a second, even more influential anti-liberal perspective, Marxism. Apart from some similarities, the fundamental difference seems to be that Polanyi does not give a positive account of modernization. This leads to the question, how Polanyi′s theories can improve our understanding of development today. I will mainly argue that although Polanyi gives an impressive account of the limits of a market economy, his treatment of politics is much too loose to be convincing.