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Since the crisis of 2008 the liberal market order has been challenged by several (populist) social movements and has become object of political regulation. Whereas in the late 70s and early 80s politics tend to deregulate the market, nowadays deregulation seem to be a synonym for the negative externalities of a free global market. Following Polanyi (The Great Transformation, 1944), societies with market market economies tend to experience a double movement - the Polanyi's Pendulum - between...
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In face of the strong conflict between market norms and social norms, peaceful co-existence is impossible. In traditional societies, markets were subordinated to society. Modern society emerged via a number of revolutions which made society subordinate to markets. This led to a reversal of traditional values of social cooperation and harmony with nature. Instead, men, nature, society became objects to be exploited for creating profits. A market society generates profits by exploiting men and...
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"Cette étude présente le parcours intellectuel de Karl Polanyi (1886-1964), à la croisée de l'économie, de l'histoire et de la sociologie, et propose une synthèse de l'ensemble de son oeuvre." Postface accessible en ligne : [ http://www.contretemps.eu/lectures/bonnes-feuilles-avez-vous-lu-polanyi-j%C3%A9r%C3%B4me-maucourant-postface ]
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Maps out a set of solutions to various systemic problems "This report argues that nothing short of a Great Transition to a new economy is necessary and desirable, and also possible. " - We have called the process by which this could happen the Great Transition as a deliberate echo of The Great Transformation, written by Karl Polanyi in the 1940s.1 While in a relatively short report such as this we could not hope to achieve anything remotely comparable to Polanyi’s great work, the scale of...
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We examine parallels and differences in the analyses of societal transition by Karl Polanyi and Joseph A. Schumpeter. We argue that although their understanding of historical processes differs - transformational-political vs. evolutionary-natural - the central mechanism of change they describe is the same. We identify three spheres essential to both authors' works: the economic, the political and the socio-cultural sphere. Polanyi and Schumpeter describe an expansion of the economic sphere...
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This paper was inspired long ago by Jared Diamond (1997), and in particular by his extensive use of the concept of economic surplus as the key to the development of civilization. Unfortunately, Diamond does not mention the origin of the concept in classical and pre-classical economics, nor does he pay much attention to debates in economic anthropology about the role of economic analysis in studying primitive and ancient economic formations. These debates were the subject of a recent book by...