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Amidst state-level budgetary pressures and growing elderly populations, many US states have adopted managed care for home-based services funded through the Medicaid program. New York State’s managed care mandate is part of a Medicaid ‘Redesign’ targeting health outcomes, cost control, and administrative efficiency, reflecting features emphasized by both governance and New Public Management frameworks, but neither adequately captures this case. Incorporating a Polanyian perspective can...

Modern heterodox theories of money reject the neoclassical conception of money as primarily a medium to facilitate exchange. These heterodox theories of money all have as common starting point an analysis of credit-debt relations in which production is a central feature, with these economies organized along capitalistic design. The Keynesian-Marxian framework describing the process of monetary circulation, traditionally referred to as the theory of the monetary circuit (TMC), perhaps best...

Pour qui est convaincu qu’un auteur n’a rien d’un esprit tombé du ciel et qu’un écrit particulier ne peut être produit dans n’importe quelles conditions, comme pour qui pense que son biographe doit absorber les conditions économiques, sociales, politiques, morales et intellectuelles spécifiques de sa vie, ses racines familiales, ses réseaux de proches et d’amis, ses collaborations professionnelles, les débats scientifiques auxquels il a participé et jusqu’à ses traits psychologiques et...

A leitura e síntese na longa duração recebe em Karl Polanyi a elegante solução que vem sendo apropriada na crítica ao mercado autorregulado da era neoliberal. Na forma de uma (quase) metáfo­ra, “A grande transformação” descreve a ascensão e a crise da sociedade liberal, com os fenômenos extremos que desencadeia com a sua sede de uni­versalização. As guerras, as revoluções e o fascismo marcam a tensão que transforma as relações inter­nacionais. Nesta obra, temos um trabalho de pes­quisa e...

Karl Polanyi’s double movement is a dialectical process characterized by a continuous tension between a movement towards social marketization and a movement towards social protectionism. Notably, Polanyi condemns the former movement while defending the latter. Without using the term “double movement”, F.A Hayek’s theory of social evolution acknowledges the same phenomenon but reaches different normative conclusions. While for Polanyi the marketization of society is a utopia with dystopian...

Polanyi's analysis and contributions have been brought back into discussion due to the rapid emergence of market-based instruments designed to tackle environmental degradation. Polanyi is a crucial reference in current debates on globalization and international political economy. This article seeks to explore and discuss how his perspective, and the founding concepts of his work, can help us to interpret the current process of the neoliberalization and commodification of nature.

Despite its centrality to current debates about globalization and neoliberalism, aspects of Karl Polanyi's The Great Transformation remain poorly understood. This article places Polanyi in conversation with Weber, Nietzsche, and Foucault in order to explicate his genealogy of utopian liberalism. This mode of thought emerged in the late 18[sup th] century as a response to the mass pauperism of the Industrial Revolution in England. It substituted a mechanistic naturalism for the political and...

El artículo presenta un discurso del autor en la Conferencia de la Sociedad de Postgrado de Economía de la Universidad de Colombia, Nueva York, en 1950, acerca del análisis institucional a las ciencias sociales. Comenta sobre la relación entre tales ramas de las ciencias sociales como la historia, la economía y la antropología. ENG: The article presents a speech by the author at the Conference of the Graduate Society of Economics of the University of Colombia, New York, in 1950, about the...

Post-Keynesian institutionalist economists like Wallace Peterson and John Kenneth Galbraith recognized that the impact of uncertainty on economic wellbeing depends in part on the degree of control people have over the sources and consequences of it. Given the inability of government and other large institutions to reduce uncertainty or to provide citizens with the ability to manage it, mediating structures are considered as an alternative means of promoting economic security. The article...

The Moral Economists: R. H. Tawney, Karl Polanyi, E. P. Thompson, and the Critique of Capitalism. By Tim Rogan (Princeton and Oxford, Princeton University Press, 2017), pp.263 + viii. AU$48.82 (hb). Available in Australia through Footprint Books.

Although Karl Polanyi is best known for his theorization of market regulation and the double movement, democratizing the economic was one of his core concerns. He believed societies need to bring labor, land, and money under collective oversight to displace the logic of market fundamentalism with the logic of human needs. In this article, the author draws on Polanyi’s vocabulary to shed light on the denial of money politics and the possibility of democratization. The author illustrates these...

This paper presents a memorial to the great Hungarian economist Karl Polanyi, with special emphasis on recent Japanese scholarship. To begin with, I affirm that for Polanyi “fictitious commodities” and “fictitious commodity markets" were key institutions of market society. Next I consider his assertion that the Poor Law controversy played a crucial role in introducing a competitive labor market into Britain from the second half of the 18th century to the first half of the 19th century....

It seems with the ever more complex instituting of aggressive neoliberal renewal policies comes an intensified effort to use the language of consensus and civic unity. The post‐political debate frames this discussion, and it is from this perspective that we propose a fuller consideration of urban renewal policy, and how these forces are embedded within the narrowing of what has been called the “properly political”. In bringing together accounts of the dynamic political life of communities...

This article captures China's role in global manufacturing through the prism of conceptualisation of the commodification of labour power in Marxist theory. It argues that modalities of China's labour force co-optation in assembly and lower value added production for export of consumer goods to advanced economies carries more of a family resemblance with putting-out systems of the pre- capitalist era than with the commodification of labour power sensu stricto marking the capitalist era from...

There is a growing awareness that a whole-societal “Great Transformation” of Polanyian scale is needed to bring global developmental trajectories in line with ecological imperatives. The mainstream Sustainable Development discourse, however, insists in upholding the myth of compatibility of current growth-based trajectories with biophysical planetary boundaries. This article explores potentially fertile complementarities among trendy discourses challenging conventional notions of...

Ecological economics is largely about the ‘substantive’ (in ‘kind’) study of the economy, as opposed to a purely ‘formal’ economic analysis (in ‘money’). Following Kapp, Polanyi and others, this article argues that ‘substantive economics’ is interested in the biophysical and politico-institutional structure of the economy rather than in correct prices within a particular axiomatic conformity, as in ‘formal economics’. After outlining the history of the substantive vs. formal dichotomy, we...

In this article, we attempt to update the understanding of the external constraint in Latin America by examining the recent history of the region through the analytical framework of Karl Polanyi in The Great Transformation. As we argue, the greatest force behind today’s external restriction is the financial sector, much as it was a century ago. To reinforce this hypothesis, we provide the reader with relatively new historical material and with arguments made by scholars from diverse...

This paper explores some features of the development paths taken by Brazil and China (two member countries of the BRICS grouping) in the current context of the crisis of neoliberal globalization and transformation of the political and economic world order. The authors use Polanyi’s ‘double movement’ thesis to argue that newly emerging rural development (RD) dynamics in China and Brazil are part of a protective ‘countermovement’, driven by actors and institutions responding to the...