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The Democratic Party's current left-wing resurgence shows that significant popular support exists for an expanded vision of fundamental rights for all people: rights to public health care and higher education; affordable housing; living-wage jobs; and a Green New Deal that transitions human society to ecological sustainability while also reducing inequality. But what are the best institutional means to provide this expanded vision of fundamental rights? This paper argues that we must stop...
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Neoliberalism means “new liberalism.” It could be dated back to 18th century, but it is a term that belongs today. Since 1990, neoliberal rules gave many harmful effects, especially to developing countries, and those harmful effects have proceeded for labor class. As capitalism stands on its own feet, it can find solutions to regain profits. However, the concern may well be gaining too much profit gives harmful effects on a wide range of social classes. Neoliberalism is accepted as the tool...
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Presenting a profound and far-reaching analysis of economic, ecological, social, cultural and political developments of contemporary capitalism, this book draws on the work of Karl Polanyi, and re-reads it for our times. The renowned authors offer key insights to current changes in the relations between the economy, politics and society, and their ecological and social effects.
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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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A remarkable transition to a renewable energy economy (also known as the Energiewende) with ambitious climate protection and sustainable economic development is taking place in Germany, with many German cities exemplifying best practices in effective climate leadership to attain ambitious climate goals, such as Munich (1.4 million) moving steadily to its targets of 100% renewable energy by 2025 and 100% renewable heat by 2040. Similarly, the former coal city of Bottrop in West Germany won...
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This article suggests cautious optimism toward the prevailing Polanyian countermovement discourse by providing a timely and comprehensive examination of the enforcement of the labour dispatch regulation in China. Since the enactment of the regulation, some enterprises have narrowed the remuneration gap between agency workers and formal employees, while others have retained a large gap in overtime pay, bonuses, and welfare benefits between these two groups of workers. The regulation has...
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This chapter draws on Polanyi’s analysis of the economy-democracy tension to discuss today’s crisis in Greece and the Eurozone. First, some of the economic and social effects of the Greek austerity programme are discussed with reference to his observations on liberal international interventionism in the interwar period. Secondly, the chapter looks at the ways in which democratic outcomes (elections, referenda, parliamentarian decisions, etc.) in Greece and elsewhere were, during different...
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