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Globalization is often portrayed as a new and unique phenomenon to our times. However, the dependence of American society upon global markets is not new. American Populists of the 19th century faced a similar matrix of political economic constraints. The Populists faced such challenges as the expansion of international trade, a deflationary international monetary order, integrating global capital markets, dependence on credit, and a political system unable to effectively regulate economic...
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This paper explores the intellectual tradition of Max Weber,Emil Durkheim, Joseph Shumpeter and Karl Polanyi — economic sociologists whose work has been largely ignored by corporate governance scholars focused on the more traditional areas of economics. The foundation laid by Weber is the central focus of the paper. Weber's writing in Economy and Society laid the groundwork for an approach to the study of firms and markets that diverges significantly from that in of the neoclassical economic...
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Bringing together democratic theory and international political economy literatures, I begin with the thesis that economic globalization is undermining the embedded liberalism of the post WWII era. Embodied in the Keynsian welfare state, embedded liberalism held out democratic avenues for disaffected groups to hold political actors responsible for suffering induced by market forces. Transformations in the global economy, however, constrain the options available to governments and curtail...
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The current understanding of U.S. hegemony rests on the assumptions of neoclassical theories of both the state and the market. While the service-dominated economy is considered post- Fordist, the rhetoric of the state focuses on institutions of democracy. To what extent is our understanding of democracy dependent on the prior assumptions that the economy is ‘free’? If we reexamine the assumptions about the links between state and economy, drawing on the work of Gramsci, and Polanyi...
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Examines a neoconservative-religious right nexus that has emerged in and around the Bush White House. Discussion on the work of Karl Polanyi to examine a paradoxical tension that exists between U.S. nationalism and the promotion of a free-market economy; Family values nationalism and free market capitalism; Proposed two areas of critique that have been influenced by the work of Christian realists.
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This paper will explore the linkages and contradictions between the promotion of democracy and the application of economic and political conditionality in Southern Africa, with particular reference to Zambia. Many electoral democracies have emerged in Africa in the last decade in conjunction with and partially as a consequence of the conditions applied to loans by bilateral and multilateral donors. It will be argued that the process of conditionality and the neoliberal policies applied...