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The ecological crisis has intensified in many respects. Prominent proposals to deal with the crisis are discussed under the header 'sustainability transformations' or even 'Great Transformation'. We argue that most contributions suffer from a narrow analytical approach to transformation ignoring the largely unsustainable dynamics of global capitalism and the power relations involved in it. Thus, a 'new critical orthodoxy' of knowledge about transformation is emerging which runs the danger to...
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The welfare system was meant to reduce the 9 vulnerability of citizens to the market, thereby containing the consequences of the market economy and labor commodification. [...] As an adaptation to the consequences of the market, the welfare system is an effort to cushion the effects of the market, not a change its underlying logic of commodification. [...] From this perspective, the political debates about the rules to be applied to the operations of the platform economy are part of the...
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The chapter reconstructs the emergence and formulation of Karl Polanyi's central research question: How is responsible freedom possible in a complex modern society? The origins of this question in the time before the First World War and the confrontations with the challenge of neoliberalism and fascism are discussed. It is shown that Karl Polanyi's concept of freedom has four dimensions. Polanyi connects negative, positive, substantial and social freedom with each other and formulates a...
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The chapter reviews aspects of the possible transformation of the financial system into a banking complex, that comprises both embedded Too Big to Fail (TBTF) financial institutions and disembedded ones. The transformation of the financial system into a two-tier banking complex is the result of the disconnection of the TBTF embedded institutions and the right size to fail disembedded financial institutions. The chapter revises the scope and consequences of this change on the monopolization...
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Una pregunta clave que surge de la pandemia de coronavirus es qué se requiere para hacer de esta fase temporal un camino hacia el cambio transformador. O, como sucedió en gran medida después de la crisis financiera de 2008, ¿volverá la sociedad a una economía dominada por el crecimiento y cargada de carbono basada en una ética del individualismo radical y el consumismo desenfrenado, informada por recetas neoliberales? Este artículo se basa en el trabajo de Karl Polanyi (1886-1964) para...
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Les analyses de Felix Schafer, alors le plus proche collaborateur de Karl Polanyi (1886-1964), permettent de comprendre un débat entamé en 1922 à Vienne entre Polanyi et Ludwig von Mises (qui était alors le représentant le plus célèbre de l’école autrichienne). Les enjeux de leur opposition devaient structurer la pensée polanyienne en son entier. Dans les décennies suivantes, notamment les années 1940-1950 aux États-Unis, c’est en esquissant une approche de type sociologique que Polanyi...
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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...
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Este ensayo pretende demostrar cómo el mercado autorregulado que pregonael neoliberalismo es una falacia y que tiende tarde que temprano a acabar odestruir las propias condiciones sociales, ambientales y culturales que aseguranla vida en el planeta. Basado en una globalización financierista, en la privatización yen la liberalización de mercado, ese modelo se ha convertido en la mayor fábrica deempobrecidos, logrando cooptar y subordinar a los Estados a sus designios a travésde las grandes...