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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...

This article re-interprets and develops Polanyi’s substantive institutionalist analysis of capitalist market economies and the market society in the light of two more recent approaches to the same issues. These are the Parisian ‘regulation school’ on contemporary capitalism and systems-theoretica l accounts of the modern economy. All three regard the capitalist economy (or, for autopoietic systems theory, the market economy) as an operationally autonomous system that is nonetheless socially...

Vouloir débattre de questions d’économie politique, comme la présente revue et toute l’oeuvre de Karl Polanyi (1) nous y invitent, semble relever, à l’aube du XXIe siècle, d’une absolue gageure. Sur le plan académique, l’économie politique s’est métamorphosée en une « science » économique fondée sous le double sceau de l’individualisme méthodologique et de l’affirmation d’une dichotomie totale entre faits et valeurs. A l’inverse, l’anthropologie de Polanyi se fonde sur un socialisme...

Focuses on the social and political changes brought about by capitalism in Europe. Advocacy of socialist Karl Marx, Karl Popper and Karl Polanyi for social democracy; Discussion on the relationship between society and economy; Notion of futurism regarding the inevitability of change.

Dominant strands of thinking in contemporary social science consider economic globalisation, the increasing role of cross-border flows and transactions in economic organisation, in terms of some combination of either limited or considerable economic impact and either positive or negative consequences for the general welfare. Little attention has been given thus far to its political consequences within those parts of the world, the developed countries of the Global North, where its impact...

Assessments of resistance to globalization are necessarily influenced by the manner in which one conceptualizes these processes. Too often, both of the terms (‘resistance’ and ‘globalization’) are used promiscuously, the latter as a buzzword or catchall and the former in many different ways, sometimes as a synonym for challenges, protests, intransigence, or even evasions. Hence, we seek to juxtapose alternative explanations of resistance and highlight the complexities of conceptualizing it....

This article reconstructs Karl Polanyi’s account of fascism’s rise in his 1935 article, “The Essence of Fascism.” Following the elevation of Hitler to power in 1933, Polanyi embarked on a reassessment of Nietzsche, Othmar Spann, Spengler, Evola, and other figures of the interwar conservative revolution. He argues that the fascist quest for national unity emerges when 19th century liberalism fails to address the growing atomization and economic dislocation of modern society. On the one hand,...

The Great Transformation, published in 1944 by Karl Polanyi, brought a new dimension to the relationship between market, state, and welfare. Polanyi considered the relation between markets and societies as a central feature of any social order; according to him, while the market destabilizes society, the commodification of labor, land, and money creates a reaction or “counter-movement.” For this reason, he describes market society as being a dominant principle for social organization. Social...

This article advances Rodrik's political trilemma of the world economy by using insights from Polanyi’s The Great Transformation, which helps to grasp the interwoven dynamics of long-term transformations due to climate change and geopolitical reordering on one hand, and on the other short-term political ruptures due to countermovements. Rodrik's globalization trilemma shows the incompatibility of hyperglobalization with the need for an enlarged democratic policy space. Its nodes...

The basic proposition of this paper is that the so-called "new economic sociology", which is rooted in key ideas of Karl Polanyi, is an indispensable "tool" for two tasks: a) it provides us with a powerful critique of market fundamentalism, and b) it allows us to analyze the economic performance of contemporary capitalism by accessing the working of its institutional structure. From an analytical perspective, the paper suggests that Polanyian Economic Sociology is an essential complement to...