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This text aims at accounting for the plurality of money by emphasizing the delicate and evolving balance of the legal monetary systems and the continued existence of moneys that stay outside, though their continuation is subjected to chronic difficulties. It uses Polanyian concepts to take the wide and increasing variety of money into account and mobilizes criteria able to analyse the variety of links between them. It proposes a framework based on the representation of a "plurality triangle"...
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This article explores the concepts of spontaneity and spontaneous order, in particular their deployment by Friedrich Hayek and Karl Polanyi. Although in many respects these thinkers were poles apart, the article identifies a point of convergence. They both mobilize the concept of spontaneity in a manner that naturalizes a particular social process: for Hayek, the market economy, for Polanyi, society’s protective movement that arises in reaction against the market economy. To contextualize...
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Across a crisis-stricken Europe battles rage for post-neoliberal hegemony, with "race" and "austerity" as central signifiers. One of the places where the frontlines are most pregnant is Sweden; long perceived as a role model for its welfare state, cultural equity and social equality. Sweden is, however, facing social conflicts following in the tracks of a deep transformation in terms of welfare cuts, racialization and growing social polarization, targeting in particular a disadvantaged...
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In the twenty-first century, global business regulation has come of age. In this article, we review the literature on globalization and business regulation from the angle of transnational governance, a recently evolving interdisciplinary field of research. Despite the multiplicity and plurality of regulatory platforms and products that have emerged over time, we identify common patterns of field structuration and parallel trajectories. We argue that a major trend, both in practice and in...
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This article argues that we are witnessing a fundamental transformation of capitalism. Under the auspices of an economic shift, social reproduction and constituent care and care work are undergoing a process of reorganization. The first part draws on Karl Polanyi’s analysis of the relation between market and society and on contemporary revisions of his approach. Referring to core arguments from his perspective on the market society it identifies processes of commodification, marketization...
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Most people read Karl Polanyi today because his critique of laissez faire capitalism seems remarkably applicable to our neoliberal times. Although his late work on ancient and ‘archaic’ economies has enjoyed a consistent specialist readership, Polanyi is best known today for his 1944 magnum opus, The Great Transformation (henceforth GT). Covering a large sweep of mostly European history, the GT seeks to show that the attempt to create a ‘self-regulating market’ was a radical and recent...
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The starting point of the paper is the meteoric rise of care and care work upon the societal and sociological agenda. Referring to Polanyi, the authors argue that this is the manifestation of a new phase of capitalist societalisation (Vergesellschaftung) of social reproduction in the form of an economic shift. The purpose of this paper is to discuss the societal organisation of care and care work and questions of inequality and justice.Design/methodology/approach The first part of the paper...
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Although Karl Polanyi is best known for his theorization of market regulation and the double movement, democratizing the economic was one of his core concerns. He believed societies need to bring labor, land, and money under collective oversight to displace the logic of market fundamentalism with the logic of human needs. In this article, the author draws on Polanyi’s vocabulary to shed light on the denial of money politics and the possibility of democratization. The author illustrates these...
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There is a growing awareness that a whole-societal “Great Transformation” of Polanyian scale is needed to bring global developmental trajectories in line with ecological imperatives. The mainstream Sustainable Development discourse, however, insists in upholding the myth of compatibility of current growth-based trajectories with biophysical planetary boundaries. This article explores potentially fertile complementarities among trendy discourses challenging conventional notions of...
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This paper explores some features of the development paths taken by Brazil and China (two member countries of the BRICS grouping) in the current context of the crisis of neoliberal globalization and transformation of the political and economic world order. The authors use Polanyi’s ‘double movement’ thesis to argue that newly emerging rural development (RD) dynamics in China and Brazil are part of a protective ‘countermovement’, driven by actors and institutions responding to the...
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The aim of this article is to contend that Karl Polanyi's work bears significant coincidences with the republican tradition of thought. The first of them is one of a methodological or epistemological kind, and it consists of the use of a very
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When looking at definitions and understandings of the social and solidarity economy, one issue stands out as particularly significant. The issue of how it links to organizational (micro and meso level dimensions) and societal specificities. Whereas social enterprise also in the EMES ideal typical version (Borzaga & Defourny, 2001) is only indirectly linked to a Polanyian framework (Gardin, 2006), the notion of solidarity economy can hardly be understood at an elaborate level without...
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The economic crisis in Greece resulted in high unemployment and the dismantlement of social protection policies. How does society respond to the collapse of both welfare-state and market mechanisms? I examine these issues through the study of one working class community in Athens over 2012-13. Since the onset of the crisis, my informants experienced a simultaneous drop in living standards, loss of social status, and debasement of their symbolic construction of reality. To respond to these...
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