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This article identifies a triple crisis of capitalism based on the three fictitious commodities as identified by Karl Polanyi: labour, money and land. This framework is used to integrate the environmental crisis into the wider crisis of capitalism. It argues that international actions required to reduce greenhouse gas emissions are going to present major challenges for capitalism with implications for the current dominance of market power and the subservience of state and social power. The...
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While struggles over land dispossession have recently proliferated across the developing world and become particularly significant in India, this paper argues that existing theories of political agency do not capture the specificity of the politics of dispossession. Based on two years of ethnographic research on anti-dispossession movements across rural India, the paper argues that the dispossession of land creates a specific kind of politics, distinct not just from labor politics, but also...
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Four years into the unfolding of the most serious crisis since the 1930s, Karl Polanyi's prediction of the fateful consequences of unleashing the destructive power of unregulated market capitalism on peoples, nations, and the natural environment have assumed new urgency and relevance. Polanyi's insistence that 'the self-regulating market' must be made subordinate to democracy otherwise society itself may be put at risk is as true today as it was when Polanyi wrote. Written from the unique...
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Drawing on a Polanyian analysis of the land question, this article aims to analyse both Western and Indigenous cosmologies of Abya Yala—the name that indigenous peoples give to the American continent—to understand the relationship between human beings and land and nature. These cosmologies are at the heart of the way in which two distinct societies construct their regional space, one from ‘above’, the other from ‘below’, and they are therefore key to understanding today’s climate change...
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The concept of the ‘counter-movement’ has had a significant impact within studies in International Political Economy (IPE). In the light of the credit crisis and the growth of growing resentment to the notion of the free market, the idea of the counter-movement has been utilised to understand social reaction to neoliberalism. This article argues that whilst the counter-movement has been used in unique and innovated ways, Karl Polanyi himself used the term largely to refer to a specific...
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This essay puts into context the debate between Michael Jacobs and Ian Mulheirn, exploring the theories and themes underpinning their arguments, published in issue 84 1 of the Political Quarterly. It discusses, firstly, the roots of Mulheirn's approach in European neoliberalism and, secondly, the roots of Jacobs' approach in a range of sources currently contending for authority over debates within the Labour party. These include themes drawn, broadly, from Polanyi, Keynes, Schumpeter and...
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Charts the history of women’s liberation and calls for a revitalized feminism.Nancy Fraser’s major new book traces the feminist movement’s evolution since the 1970s and anticipates a new—radical and egalitarian—phase of feminist thought and action.During the ferment of the New Left, “Second Wave” feminism emerged as a struggle for women’s liberation and took its place alongside other radical movements that were questioning core features of capitalist society. But feminism’s subsequent...
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In this article, I suggest what an engagement between post-structuralism and the work of Karl Polanyi might look like. I do this by presenting a reading of Polanyi's concept of ‘double movement’ as a form of problematisation through binary opposition. I suggest that the central opposition that the double movement depicts – between economy and society as reflected in processes of marketisation and social protection – presents itself in such a way that the problems emanating from the...
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This article argues that ideational and institutionalist approaches to the study of policy continuity and change should be complemented by research into political ideologies, and with exploration of an 'intermediate' public sphere in which there is extensive intra-ideological dispute. Exploring contemporary left-wing debate about political economy in Britain it is shown that ideational change takes place in the context of disputes rooted in ideological tradition, involving the rearrangement...
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The author uses the theory of the 'Great Transformation' of the industrialisation of England developed by Karl Polanyi to describe the current situation in Europe. There is a strong marketisation of the economy and also of social life, but what is missing is the social policy that needs to accompany this process, if there are not to be major problems. From this perspective marketization and social policy do not exist in a zero-sum game, but are mutually dependent. The emphasis on negative...