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This article contends that decommodification is an appropriate concept for understanding diverse initiatives such as fair trade, microfinance, open source, social enterprises, and the environmental commons as component features of a common process. Decommodification is conceived as any political, social, or cultural process that reduces the scope and influence of the market in everyday life. Given recent transformations in market societies, a more expansive framework for decommodification...

How does the causality between society and the economy run? After examining this fundamental question from the perspective of Polanyian economics, we conclude that the modern national economy is where bargained exchange is institutionalized by society to pre-exist with the aid of discipline over currency issues. However, this discipline is not provided with a proper institutional defense; and potential fragility of the modern national economy owing to this fact was most vividly revealed by...

This paper draws upon the five other papers presented in this volume, along with other presentations made at the 2009 Development Studies Association Conference, to reflect on the relationship between development studies and the 2008–2009 global financial crisis. It first analyses antecedents to the crisis by relating the papers presented by Gore (on long waves of capitalism) and Fischer (on China's integration into the world economy) to a Polanyian analysis. It then considers immediate...

This paper uses Polanyi's 1944 analysis of policy change—in which there are long-term swings from state regulation to markets and back again, as the consequences of one regime lead to political reactions that in turn reverse the policies. It shows how the Polanyi analysis continued to apply throughout the twentieth and early-twenty-first century, well beyond when he wrote, and that the swings also apply to developing country policy-making. It argues that there are new signs of policy...

I present five theses on the common within the context of the transformations of capitalist social relations as well as their contemporary global crisis. My framework involves “cognitive capitalism,” new processes of class composition, and the production of living knowledge and subjectivity. The commons is often discussed today in reference to the privatization and commodification of “common goods.” This suggests a naturalistic and conservative image of the common, unhooked from the...

There has been a qualitative shift in the character of international labour migration with increased temporary labour migration. With circumscribed employment rights, the increased significance of temporary migrant workers underscores arguments that globalisation has engendered a more profound commodification of labour. The instrumentalist approach, especially of international financial institutions in promoting temporary labour migration as a panacea for development, reinforces this...

Enormous new markets in uncertainty and in carbon have been created recently, ostensibly to enhance the cost-effectiveness of both finance and climate action. In both cases, however, creating the abstract commodity framework necessary to make sense of the notion of 'cost-effectiveness' has entailed losing touch with what was supposedly being costed, helping to engender systemic crisis. The new financial markets expanded credit and multiplied leverage by isolating, quantifying, slicing,...

The argument focuses on the corporate state as an increasingly significant political assemblage that has enabled new configurations of power with related social effects. Here the discussion proceeds from Karl Polanyi's thesis in The Great Transformation. A critical idea that Polanyi pursued related to the state production of economism and individualism, which prepared the ground for the expansion of capital in its globalizing form. The essay develops this idea, indicating that the...

How can a partial, revisable utopia of 'decent society' be used as a yardstick for assessing today's impersonal forms of social integration? In economic life - this essay's focus - Polanyi's hopes that the 'economic system' might cease 'to lay down the law to society' is a start. Recently, financial firms sold commodified promises and obligations on the allure of democratizing credit and providing financial 'choice' to millions. Yet these 'civilities' exploited people's hopes for a dignified...

This article introduces cultural political economy as a distinctive approach in the social sciences, including policy studies. The version presented here combines critical semiotic analysis and critical political economy. It grounds its approach to both in the practical necessities of complexity reduction and the role of meaning-making and structuration in turning unstructured into structured complexity as a basis for ‘going on’ in the world. It explores both semiosis and structuration in...

The dominant narrative around the unfolding capitalist crisis is firmly focused on the dominant economies, and in particular the US. This is understandable given that the proximate causes of the crisis lie in the imperial heartlands and crisis resolution measures taken there will have a global impact. But a 'view from the South' is needed to redress the balance and prevent the decimation of global majority likelihoods being presented as mere collateral damage. The first section below tackles...

Drawing on Karl Polanyi's distinction between formal and substantive theory, this article argues that 'an Australian international political economy' could (and should) be erected on the historical study of Australia's substantive articulations with the global economy.

Part of what makes the current conjuncture so extraordinary is the coincidence of the massive economic meltdown with the implosion of the neoconservative Project for a New American Century, and the reappearance of US liberal internationalism in the guise of “smart power” defined in terms of Diplomacy, Development, and Defence. This essay engages these challenges through a framework that distinguishes between “Development” as a post-war international project that emerged in the context of...

This paper addresses a puzzle: how to account for changes in the routine behavior of groups, organizations and individuals in Britain? Following a detailed analysis of state-market interdependence and the role of the state in creating the market, an analysis drawn from the thinking of Weber and Polanyi, we suggest adapting Weber's notion of bureaucratic revolution: in what we call the British bureaucratic revolution, the state has played an essential role in social change by creating...

Antipode was launched into the firmament of the 1970s. We might reflect upon how well the journal and its contributors fully appreciated the historical gravity and weight of what was surrounding the project to create “a radical journal of geography”. What sort of radicalism was on offer? The language was “social relevance” from “a radical (Left) political viewpoint”. In writing to celebrate Antipode's birthday, this time in another, and similar, firmament there is still the need to confront...

The agri-environmental governance of value chains can favour a Polanyian double movement seeking social protection and control over price setting markets or it can advance a neoliberal logic that strives to overcome the few remaining civic and ecologic obstacles to full market dominance. Coupled with a typology that contrasts corporate social responsibility and social economy Fair Trade models, this theoretical framework elucidates positions in the current policy debates about the minimum...

Abstract:  This essay's point of departure is the coincident economic and environmental “crises” of our time. I locate both in the dynamics of capital accumulation on a world-scale, drawing on the ideas of Marx, Karl Polanyi and James O’Connor. I ask whether the recent profusion of “crisis talk” in the public domain presents an opportunity for progressive new ideas to take hold now that “neoliberalism” has seemingly been de-legitimated. My answer is that a “post-neoliberal” future is...