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In this article, we revisit Karl Polanyi's concept of 'oikos' in order to reconceptualize the role of the family as both a welfare provider and an economic actor in the social reproduction of East and South East Asian welfare capitalisms. Our article is structured in four parts. First, we critically review existing approaches on the characteristics of welfare capitalism in East and South East Asia. We argue that existing approaches tend to isolate family as a welfare provider and neglect how...
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This contribution argues that the Transatlantic Trade and Investment Partnership (TTIP) is unprecedented, not because it constitutes a Polanyian moment, but rather because it offers an alternative to multilateralism through the World Trade Organization (WTO). Never before has bilateralism offered such a 'best alternative to no agreement' (BATNA) to members of the core decision-making body of the WTO negotiating arm, making TTIP an unprecedented geopolitical game-changer. The anti-TTIP...
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Prominent republican theorists invoke anonymous orders such as the market as mechanisms that secure freedom as non-domination. Drawing on Karl Polanyi's account of fictitious commodities and demonstration of the impossibility of a just and rational market society, this article critically scrutinizes neo-republican assumptions regarding the market, develops an alternate social theory within which to situate the ideal of non-domination, and illustrates the importance of this reconfiguration...
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The cardinal role of complexity in Friedrich Hayek’s theory of the market has hardly gone unnoticed. Indeed, there is now a considerable corpus of literature that has established the importance of spontaneity as a central concept around which neoliberal economic theory revolves. However, as William Connolly analyzes, its closed conception of economic processes simplifies real economic volatilities and ignores both modes of self-organization and creativity found in democracy and social...
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The vote for Brexit is not an isolated event, but part of a wave of populist, anti-elite revolts: a new 'anti-system' politics Western democracies are experiencing, shaking the existing consensus around economic integration, free markets and liberal values. This wave takes a variety of forms, but has in common a robust, even violent, rejection of the mainstream political elites and their values, and a demand for governments to act on the sources of social and economic distress and...
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Land reform was one of the most important policies introduced in Latin America in the twentieth century and remains high on the political agenda due to sustained pressure from rural social movements. Improving our understanding of the issue therefore remains a pressing concern. This paper responds to this need by proposing a new theoretical framework to explore land reform and providing a fresh analysis of historical and contemporary land struggles in Ecuador. Drawing on the pioneering work...
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Discusses the relevance of Polanyi’s double movement in light of increasing support for far-right, authoritarian and neo-fascist movements in Europe and North America. The author quotes The Great Transformation on how fascism “was rooted in a market system that refused to function” (21), however, he chooses to center his analysis on an unpublished essay of Polanyi’s entitled “The Fascist Virus”. From this, he extrapolates that fascism operates like a disease within liberal capitalism,...
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It has become all too easy to disparage the role of the US government today. Many Americans are influenced by a simplistic anti-government ideology that is itself driven by a desire to roll back the more democratically responsive aspects of public policy. But government has improved the lives of Americans in numerous ways, from providing income, food, education, housing, and healthcare support, to ensuring cleaner air, water, and food, to providing a vast infrastructure upon which economic...
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Karl Polanyi, The Great Transformation and a new political economy Professor Matthew Watson, Assistant Professor Christopher Holmes and Professor Ben Clift, Politics and International Studies Avert…
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This short piece suggests that the roots of the successful Brexit vote can be found in the free market purity that was implicit within the ideals behind Thatcherism. Whilst the rhetoric of populist and British (or in many parts English) nationalism were utilised in order to win support, the ideological driving force implicit within many Brexit figureheads rested in the belief that the EU watered down their visions of a harder neoliberal reality. Yet, by stimulating right-wing reactionary...
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Featuring essays from Michael Brie (Rose Luxemburg Foundation, Berlin), Nancy Fraser (New School for Social Research, New York) and Kari Polanyi-Levitt (McGill University, Montreal). The contemporary Left fights its political battles on various fronts: protesting the crippling structural inequalities that sustain neoliberal economic policy; developing sustainable, community-based alternatives to the consumerism and short-termism that exacerbate the environmental crisis; and advocating for...
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A fresh look at how three important twentieth-century British thinkers viewed capitalism through a moral rather than material lens What's wrong with capitalism? Answers to that question today focus on material inequality. Led by economists and conducted in utilitarian terms, the critique of capitalism in the twenty-first century is primarily concerned with disparities in income and wealth. It was not always so. The Moral Economists reconstructs another critical tradition, developed across...
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This article explores the recent rise of populist politics from the perspective of Karl Polanyi's theory of the ‘double movement’. It firstly introduces Polanyi's understanding of interwar populism, and relates this to his broader critique of liberal economic thought. This framework is then used to analyse three prominent explanations for populism which emerged in the wake of the UK's 2016 EU referendum: globalisation; cultural reaction; and social media. I show how each of these...
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