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Santhi Hejeebu and Deirdre McCloskey's rebuttal to Karl Polanyi's Great Transformation begs several important questions. Yes, commerce can be found throughout human history--but is that the same as saying that people have been equally capitalistic at all times? If not, then how did modern capitalism come into being? Hejeebu and McCloskey portray capitalism as having evolved gradually, indeed quite naturally, rather than being a contingent product of politics. Not inconsistently, Hejeebu and...

Halperin traces the persistence of traditional class structures during the development of industrial capitalism in Europe, and the way in which these structures shaped states and state behavior and generated conflict. She documents European conflicts between 1789 and 1914, including small and medium scale conflicts often ignored by researchers and links these conflicts to structures characteristic of industrial capitalist development in Europe before 1945. This book revisits the historical...

During and especially after the Second World War, a group of leading scholars who had been perilously close to the war's devastation joined others fortunate enough to have been protected by distance in an effort to redefine and reinvigorate Western liberal ideals for a radically new age. Treating evil as an analytical category, they sought to discover the sources of twentieth-century horror and the potentialities of the modern state in the wake of western desolation. In the process, they...

This study expands the narrow economic-commercial focus of the topical media and places globalization in a multidisciplinary context as a continuing process and a permanent condition that transforms human living and society. Early chapters review the development of globalization as creating and diffusing knowledge, expanding people's perspectives on living, and continuing progress. These chapters introduce globalization as an iterative, human, and deliberate process of creating new knowledge...

Whether globalization will result in improvement or deterioration in protection of human rights is not a matter that can be observed in the short term. Globalization is, in effect, the second ‘great transformation’ (Polanyi) spreading capitalism over the entire world. In consequence, many of its short-term effects will be negative. Nevertheless, its medium and long-term effects may well be positive, as it impels social changes that will result in greater moves to democracy, economic...

Presents the perspective of philosopher Karl Polanyi on economic change. Works of Polanyi on the topic; Analysis of pre-modern economies by Polanyi. According to Jeffrey Nugent, institutions make social life fairly predictable by restricting some actions and providing incentives for other actions. The article discusses Polanyi's book "The Great Transformation," the self-regulating market economy, scarcity, individual choice, economic development in India, trust in India's corporate...

There is a growing consensus in comparative political economy that 'globalization' is not eliminating the distinctive character of specific nation-states. Even in Europe, where formal integration between countries is most profound, nation-states remain idiosyncratic. Starting from this consensus, the questions I ask are: (a) how can we explain the coincidence of national idiosyncrasy and international integration; (b) what does our explanation tell us about processes of European integration?...

Jacket abstract: "Democracy and the Global System analyses the relationship between liberal democracy and the global system while developing a critique of liberal internationalism. Fabian Biancardi examines some of the key questions of modern politics and the major ideas of a number of significant authors and texts, including Barrington Moore Jr., Karl Polanyi, Joseph Schumpeter, Samuel Huntington and David Held. While sympathetic to the aim of spreading liberal democracy globally, he...

Mark Blyth argues that economic ideas are powerful political tools as used by domestic groups in order to effect change since whoever defines what the economy is, what is wrong with it, and what would improve it, has a profound political resource in their possession. Blyth analyzes the 1930s and 1970s, two periods of deep-seated institutional change that characterized the twentieth century. Viewing both periods of change as part of the same dynamic, Blyth argues that the 1930s labor reacted...

Challenging contemporary debates concerning the regulation of ocean fisheries, this paper deploys theoretical insights developed by Karl Polanyi. In The Great Transformation, Polanyi documented the consequences of the establishment of market economy upon European society, and thereby upon the entire planet. The concept of the self-regulating market, according to Polanyi was based on three "commodity fictions" of land, labor and money; the extension of this concept to all of the economic...

Examines the views of neoclassicist Friedrich A. Hayek, sociologist Emile Durkheim and Karl Polanyi on liberalism. Relationship between the individual, the market economy and society; Features of Hayekian neoclassical economics; Information on Polanyi's book 'The Great Transformation.'

The author critiques the expedient application of market valuation principles by the transnational corporations and other large firms in the Indian pharmaceutical industry on a number of issues like patents, pricing, irrational drugs, clinical trials, etc. He contends that ethics in business is chiseled and etched within the confines of particular social structures of accumulation. An ascendant neo-liberal social structure of accumulation has basically shaped these firms' sharp opposition to...

Explores the role of markets in achieving social well-being in Latin America, highlighting alternatives theories for this relationship based on the work of Karl Polanyi. Role of markets in reducing poverty; Relation between markets and social institutions; Ways in which market liberalization is damaging the livelihoods of the poor.

Examines the relationship between democracy and development to set the scene for the pressing contemporary issue of how globalization might affect democracy and vice versa. Reference to the work of Karl Polanyi who posited a dual movement of market expansion matched by increasing social control over it; Impact of globalization.

'An excellent contribution to our understanding of the political construction of markets... This is a well-written book, enjoyable to read as well as being very informative. I view this volume as a 'must read' for all scholars and graduate students in the areas of government and business, the politics of market economies and comparative politics in general. Michelle Egan's description and explanation of market construction and its impact on business standards, regulation and governance will...

This article constructs a model of contemporary currency crises which incorporates the role played by institutional investors and the dynamics associated with Karl Polanyi's notion of the "double movement." Polanyi's double movement, and its recognition of the need to integrate politics with economics, is used to explain why so many governments are prone to pursue policies that lead to a speculative attack against fixed exchange rates and why virtually every modern fixed exchange rate regime...