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The article offers information on the features that contribute to the modernization in Russia. It discusses various value structure theories from various persons. It says that from the analysis of world survey statistics, Yevgeny Yasin concluded that Russians are more conservative compared to other western countries. Details regarding the mentality of Russian people are discussed including Russians' high score on cycloid scale and their tendency to fulfill their task at the last moment....

This chapter contains sections titled: * Clashing Models of Capitalism: Hayek VS. Polanyi * Market Liberalism's Return: From the “Not Quite Golden Age” to the “Great U - Turn” * Hegemonic Neoliberalism: From Crest to Crisis to Emphatic Reassertion(?) * Capitalism at the Point of Inflection: Neoliberalism's Wake * Conclusion * References

Karl Polanyi, who was born in 1886 in Vienna and died in 1964 in Pickering, Ontario remains a most influential theoretical figure in the social sciences, in particular stimulating both analytical and policy-related concerns that are related with the new institutionalism in economics, sociology and political science. Polanyian insights on the political economy of economic development from an institutional perspective have persistently shaped a variety of discourses that range from the theory...

BOOK ABSTRACT: Situates the current crisis in the historical trajectory of the capitalist world-system, showing how the crisis was made possible not only by neoliberal financial reforms but by a massive turn away from manufacturing things of value towards seeking profit from financial exchange and credit. Much more basic than the result of a few financial traders cheating the system, this is a potential historical turning point. In original essays, the contributors establish why the system...

The patterns and impact of globalization have become a common concern of all international jurists, sociologists, political scientists, and philosophers. Many have observed the erosion of the powers of nation states and the emergence of new transnational governance regimes, and seek to understand their internal dynamics, re-regulatory potential, and normative quality. Karl Polanyi's seminal book - The Great Transformation - is attracting new attention to such endeavors, mirroring a growing...

Within the context of the New Economic Sociology, Karl Polanyi is almost universally considered the "father" of the concept of embeddedness. However, this concept has been subject to selective appropriation by this discipline and its relationship to the remaining theoretical edifice constructed by Polanyi has been neglected. It is, in fact, possible to refer to the "great transformation" to which the concept of embeddedness has been subjected: whereas in Polanyi’s work it is associated with...

This paper turns Karl Polanyi's concept of the "double movement" back on Polanyi and his intellectual contemporary, Friedrich Hayek, as a means to insight into the structural conditions of counter-movement in the second half of the 20th Century. After elaborating on the double movement concept, I contrast the trajectory of Polanyi and his greatest work, The Great Transformation, with that of Friedrich Hayek and his contemporaneous Road to Serfdom--treating each as protagonists in the...

Özet: 20. yüzyılın önde gelen iktisatçılarından olan Karl Polanyi (1886-1964), Büyük Dönüşüm adlı eserinde ortaya koyduğu özgün tezler ile halen kapitalizme en ciddi eleştiriyi getirmiş kişilerden biri kabul edilmektedir. Polanyi'nin klasik ENG: Karl Polanyi is known as one of the most famous economists of the world who strongly criticized liberalism and the idea of self-regulating market. Polanyi’s masterpiece The Great Transformation is still accepted as one of the most powerful...

In this paper I propose that role of law in Karl Polanyi's concept of the 'always embedded economy' (Block 2003) can be enriched by the application of the lens of community (Perry-Kessaris 2008) developed by Roger Cotterrell (1996-present). I begin with Polanyi's suggestion that economic action and interaction are always 'embedded' in wider social life. Reading through the lens of community, we can be more specific: any actor is at once engaged, to different degrees (from fleeting to...

Sociologists have examined the ways in which capitalism contributes to environmental degradation as well as how, in selected circumstances, it increases efficiency while reducing pollution and human injustices. In this review, we draw on Polanyi's concept of the double movement to illustrate how self regulating markets give rise to environmental degradation and inequities and, in response, how these conditions often stimulate the emergence of collective action in pursuit of regulatory and...

The Global South has entered an era of ideological flux. The inadequacies of neoliberalism have spawned a widespread questioning of this dominant worldview. Intellectuals and political movements search for an alternative development ideology that explains what has gone wrong, provides a vision of a more desirable future and suggests a process for achieving this goal. Responding to these challenges, the World Bank and other purveyors of the dominant model have undertaken a gradual shift from...

Depression-era bank suspensions and failures are conceptualized as products of the first part of what Polanyi (1994) called “The Great Transformation,” which involved an imbalanced institutional arrangement in which the economy dominated other institutions. Relying on Durkheim (1897/1951) and Merton (1938, 1968), it is argued that these banking problems accentuated the type of chronic anomie that Durkheim theorized would create normative deregulation and elevated suicide rates over the...

There now exists a significant body of theoretically informed empirical research into ‘neoliberal environments’. It comprises numerous studies which together explore the connections between neoliberal principles and policies, on the one side, and the biophysical world on the other. However, making sense of them is by no means straightforward, despite their common focus on neoliberal environments. It is currently left to readers of these studies to synthesise them into a wider, joined-up...

The purpose of this paper is to bring class compromise back into the study of South Korean political economy and present it as a possible alternative to the overwhelmingly one-sided neoliberal trajectory in South Korea. The process and conditions under which positive class compromise is acquired are identified in terms of the Polanyi-Gramsci nexus. This perspective suggests that the restoration of state-led developmentalism would be unfeasible under a democratic regime, while the...

This paper reformulates and extends Polanyi's main insights in The Great Transformations (2001 [1944]) and attempts to theorize the societal countermovement against neoliberalism by illustrating the cases of Korea and Japan. Polanyi's main approach was to synthesize three critical domains: the state, market, and society, and his notion of double movement should be understood as such. Predicated on his double movement, I analytically decompose the mechanism of societal countermovement,...

In The Great Transformation, Karl Polanyi problematised the commodity status of labour. He described it as ‘fictitious' and asserted the human aspect of labour necessitates ‘protection’. In bringing Polanyi's mature works to bear on these claims, this article uses the ‘fictitious commodity’ concept to highlight the tension in neoclassical theory between concrete reality and its idealist construction of the economy. This contradiction directly challenges the veracity of the self-regulating...