Karl Polanyi's Institutional Theory: Market Society and Its "Disembedded" Economy - Cangiani, Michele (Journal of Economic Issues, 2011)
A fundamental principle of Karl Polanyi's institutional outlook is that any economic system has to be considered as a whole and as a historically specific social organization. This principle implies a comparative method and a critique of conventional economics. Besides, the problem of the interrelation between the economic system and other aspects of social life cannot be avoided. On this basis, Polanyi points out the peculiar "economic" nature of the market-capitalist society and explains the institutional transformations characterizing its history. The opposition "embedded/disembedded," used by Polanyi to distinguish pre-modern economies from the market economy, has been widely adopted in recent times, particularly by economic sociologists, as a key for understanding current complex economic phenomena. However, the reference to Polanyi often presupposes a distorted interpretation of his theory, and a different kind of institutional approach.
Keywords: comparative economics; disembedded economy; economic policy; economic systems; embedded economy; institutional economics; institutional method

The moral economy of the Didache - Draper, Jonathan A. (Hervormde Teologiese Studies, 2011)
This article applies the model of the moral economy in the ancient world, as formulated by Karl Polanyi and applied by Halvor Moxnes, to the economic relations reflected in the Didache. The study partly confirms Aaron Milavec's contention that the instructions in the text would provide an 'economic safety net' for members of the community by putting in place a system of generalised reciprocity and redistribution, although Milavec's depiction of the community as an 'urban working class' movement is found to be anachronistic. The 'communion of the saints' is very much an economic system with aspects of resistance to the Roman imperial system. However, the moral economy of the Didache is seen to reflect a number of ambiguities, particularly in its adoption of the Christian Housetable ethic but also in its adoption of the patron client terminology in the dispute between prophets and teachers on the one side and bishops and deacons on the other.
Keywords: Bible; Bible - terminology; Bible - theology; Christian ethics; MILAVEC, Aaron; ambiguity; economic systems; moral economy; theology

Another ‘Great Transformation’ or Common Ruin? - Smart, Barry (Theory, Culture & Society, 2011)
In the aftermath of the 1930s Great Depression, and as the Second World War was drawing to a close, Karl Polanyi concluded a critical analysis of market capitalism on an optimistic — and with the benefit of hindsight we can add premature — note, remarking that the ‘primacy of society’ over the economic system had been ‘secured’. Eighty years later, amidst the unresolved turmoil of another comparable global capitalist economic crisis and accumulating signs of a growing environmental crisis, both a direct legacy of the operation of the ‘market economy’, the remedy advocated by governments and policy-makers is effectively a return to ‘business as usual’. Notwithstanding various manifestations of public expression of dissatisfaction with the consequences of global ‘free-market’ capitalism, which include increasing inequality, poverty, unemployment, depletion of scarce natural resources, environmental destruction, pollution and waste, the default policy setting remains to restore global economic growth, to generate further increases in production and cultivate ever-rising rates of consumption, even if the risk is ‘common ruin’. However, there are a number of realistic, progressive and radical alternatives proposed by critical analysts, including a political program for ‘de-growth’ , a reinvention of communism and detailed policy proposals outlining the measures necessary to promote a transition to a ‘post-capitalist’ society with a sustainable economy.
Keywords: BAUMAN, Zygmunt; Farewell to Growth (Book); First As Tragedy, Then As Farce (Book); LATOUCHE, Serge; Living on Borrowed Time: Conversations With Citlali Rovirosa-Madrazo (Book); ZIZEK, Slavoj, 1949-; capitalism; communist hypothesis; de-growth; degrowth; economic growth; environment; financial crisis; nonfiction; sustainability

The Big Picture: 2010 Presidential Address to the American Society of Criminology* - Rosenfeld, Richard (Criminology, 2011)
Microanalysis holds sway over macroanalysis in contemporary criminology. All of criminology would be better off if greater attention were devoted to the big picture—the relationship between crime and the interplay of institutions in the social systems of whole societies. Microlevel researchers often assume that the reduction of individual criminal propensities leads ipso facto to reductions in aggregate crime rates, but the implied connection is illusive, has not been demonstrated, and is belied by the macroanalysis of crime. The perspectives, methods, and data of macrocriminology also need to be developed, however, if they are to advance our understanding of crime at the level of social systems. Emile Durkheim, Talcott Parsons, Karl Polanyi, and C. Wright Mills have contributed essential building blocks for the study of the big picture of crime. Improvements in the quality and timeliness of aggregate crime data, finally, are necessary to bolster the policy relevance of macrocriminology.
Keywords: MILLS, C. Wright; PARSONS, Talcott; aggregate crime rates; macrocriminology; social institutions

Neoliberalism as a state-centric class project: The Italian case - Briziarelli, Marco (Continuum: Journal of Media & Cultural Studies, 2011)
This essay sheds light on the neoliberal aspects of the Italian political-economic system exemplified in the relationship between capital, state and media. The main argument is that the specific marriage between neoliberalism and neocorporatism that characterizes Italy reveals a distinctive characteristic of neoliberalism: a class project relying heavily on the state. As Polanyi has suggested through the concept of 'embeddedness', capitalism has consistently developed through the double movement of preaching the independence of the free market from the state and requiring the state's protectionist interventions. After describing this state-centric framework to interpret neoliberalism, in the second part of the paper, I consider the political-economic history of Italy's recent decades, paying particular attention to the media system. I will examine the 'communicative performance' of neoliberalism in Berlusconi's discourses and concrete political decisions taken in the name of neoliberalism. The articulated relationship between media and politics reveals the continuous attempts by the advocates of neoliberalism to seize the state, not to reduce its intervention but in fact to manipulate the market.
Keywords: Italy; economic indicators; essays; mass media audiences; neoliberalism; political economic analysis

Positivism and 'Functional Theory' in the Thought of Karl Polanyi, 1907-1922 - Dale, Gareth (Sociology Compass, 2011)
Karl Polanyi is the author of a modern social science classic, The Great Transformation, as well as a number of well-known and widely debated essays collected in Trade and Market in the Early Empires and Primitive, Archaic and Modern Economies. These texts were researched and written either during his second exile in 1930s Britain or in wartime or post-war North America. Not so well known, however, are his Hungarian writings from the 1910s. Until recently, very few of these had been republished or translated, although this is in the process of being rectified [: Karl Polanyi: The Hungarian Writings]. With reference to new translations of his Hungarian writings, to interviews with his daughter, Kari Polanyi-Levitt, as well as to biographical essays by György Litván, Évá Gábor, Endre Kiss, and Zoltán Horváth, this article explores his early influences, drawing attention in particular to his flirtation with and then violent reaction against philosophical materialism and 'objectivist' sociology, his appreciation of Ernst Mach's positivism, and his adherence to the 'functional theory' of contemporary Guild Socialism.
Keywords: positivism; religion; social sciences; socialism

The Market and Falling Fertility: Why Darwin Needs Help From Polanyi - Yea, Sanghan (World Futures: The Journal of General Evolution, 2011)
Darwin said all living things tend to multiply. However, nowadays, maintaining fertility rate below the replacement level of 2.1, human beings appear to have opted to let their population shrink. Perplexingly, it occurs while the environment seems to become more suitable for their survival. In solving this puzzle, we get a great help from Polanyi. We proved that people choose to have fewer babies and consequently, usher in depopulation, because by giving them the chance to assess all the expenses necessary for raising children, the market makes the cost clarified increasingly, while the economic benefit from rearing their off-spring remains obscure.
Keywords: DARWIN, Charles, 1809-1882; and memes; below replacement-level fertility; cultural transmission; demographic change; depopulation; exchange; futures research; general evolution; human fertility; markets; memes; reciprocity; redistribution

Crisis and renewal: the outlines of a twenty-first century new deal - Block, Fred (Socio-Economic Review, 2011)
Most analyses of the US financial crisis of 2007–2009 focus on the proximate causes. This article sees the crisis as a consequence of the decline of a long-term pattern of accumulation in the USA and seeks to outline the requirements for a new period of dynamic economic growth. Drawing on work done by the French Regulation theorists and the US analysts of Social Structures of Accumulation, the paper attempts to describe the types of institutional changes that would be needed to spark a new period of stable economic growth in the USA and in the rest of the world economy. The paper outlines what a green mass consumption economy might involve.
Keywords: United States; capitalism; capitalist systems; crises; economic change; economic reform; financial crisis; green economy; institutional change

NAFTA and Gatekeeper: A Theoretical Assessment of Border Enforcement in the Era of the Neoliberal State - Ackerman, Edwin (Berkeley Journal of Sociology, 2011)
The coexistence of border-enforcement policies such as Operation Gatekeeper and economic liberalization programs such as NAFTA is arguably paradoxical given the simultaneous push towards afree flow of products but curtailed flow of labor. This paper presents a critical review and reassement of existing accounts of neoliberal statehood to make sense of this apparent puzzle. While some have argued that the state is eroding under neoliberal globalization, a more sophisticated analysis has focused on how it has been transformed. David Harvey and LoIc Wacquant focus on the role of the repressive apparatus in upholding neoliberalism. Building on Harvey and Wacquant, and returning to Karl Polanyi, I emphasize the ways in which the state has tried to make use of a repressive apparatus as a claim to social protection a function that becomes necessary as the state advances liberalization. The coexistence of NAFTA and Gatekeeper should be not be understood as an anomaly but rather as an expected feature of contemporary statehood.
Keywords: North American Free Trade Agreement (NAFTA); United States; border security; finance; free trade; liberalization; neoliberalism; social protection

O diferencial do empreendedorismo solidário - Gaiger, Luiz Inácio; da Silva Corrêa, Andressa (The uniqueness of solidarity entrepreneurship., 2011)
The article aims to bring evidence that the solidarity economic undertakings, based on voluntary association, productive cooperation and self-management, employ a unique rationality, different from the capitalistic one. Classical authors such as Schumpeter, Polanyi and Weber, besides some scholars dedicated to the solidarity economy or to micro-entrepreneurship, such as Laville, Portela and Hespanha, give us a theoretical framework, which is used to review the concept of entrepreneurship and to discuss the findings of some empirical investigations, particularly regarding solidarity micro-enterprises. The data base under analysis is provided by the national mapping of the solidarity economy in Brazil and by a qualitative study about small solidarity-based economic experiences, which focused on the relevance of self-management and cooperation, as well as of efficiency and sustainability. Despite their weaknesses and limitations, these experiences reveal the existence of a particular associative kind of entrepreneurship, guided simultaneously by economic and social objectives. This provides convincing empirical arguments for the adoption of a specific approach on entrepreneurship in the context of the solidarity economy and, under certain aspects, in the broader context of small enterprises. (English)
Keywords: SCHUMPETER, Joseph Alois, 1883-1950; WEBER, Max, 1864-1920; associations, institutions - management; associativism; associativismo; economic rationality; entrepreneurship; micro-entrepreneurship; microempreendedorismo; racionalidade econômica; solidarity; solidarity economy; sustainability; works councils

Food crises, food regimes and food movements: rumblings of reform or tides of transformation? - Holt Gimenez, Eric; Shattuck, Annie (Journal of Peasant Studies, 2011)
This article addresses the potential for food movements to bring about substantive changes to the current global food system. After describing the current corporate food regime, we apply Karl Polanyi's 'double-movement' thesis on capitalism to explain the regime's trends of neoliberalism and reform. Using the global food crisis as a point of departure, we introduce a comparative analytical framework for different political and social trends within the corporate food regime and global food movements, characterizing them as 'Neoliberal', 'Reformist', 'Progressive', and 'Radical', respectively, and describe each trend based on its discourse, model, and key actors, approach to the food crisis, and key documents. After a discussion of class, political permeability, and tensions within the food movements, we suggest that the current food crisis offers opportunities for strategic alliances between Progressive and Radical trends within the food movement. We conclude that while the food crisis has brought a retrenchment of neoliberalization and weak calls for reform, the worldwide growth of food movements directly and indirectly challenge the legitimacy and hegemony of the corporate food regime. Regime change will require sustained pressure from a strong global food movement, built on durable alliances between Progressive and Radical trends.
Keywords: corporate food regime; corporations; food movements; food prices; food security; food sovereignty; food supply; global food crisis; hunger; neoliberalism; peasant studies; right to food; social change; strategic alliances (business)

On the Nation-Specific Features of Modernization in Russia - Yadov, Vladimir (Social Sciences, 2011)
The article offers information on the features that contribute to the modernization in Russia. It discusses various value structure theories from various persons. It says that from the analysis of world survey statistics, Yevgeny Yasin concluded that Russians are more conservative compared to other western countries. Details regarding the mentality of Russian people are discussed including Russians' high score on cycloid scale and their tendency to fulfill their task at the last moment. Moreover, it says that Russia's activist theories, Karl Polanyi and Douglas North's path dependence theory, and the global world system theory as a new phase to human civilization's history are important features to the country's modernization.
Keywords: Russia; Russia - social conditions; YASIN, Yevgeny; economic development; modernization (social science); modernization theory; nation-state; national interest; social development theory

After Neoliberalism - Antonio, Robert J. (The Wiley-Blackwell Companion to Sociology, 2011)
This chapter contains sections titled: * Clashing Models of Capitalism: Hayek VS. Polanyi * Market Liberalism's Return: From the “Not Quite Golden Age” to the “Great U - Turn” * Hegemonic Neoliberalism: From Crest to Crisis to Emphatic Reassertion(?) * Capitalism at the Point of Inflection: Neoliberalism's Wake * Conclusion * References
Keywords: 2008 financial meltdown; HAYEK, Friedrich A. von (Friedrich August), 1899-1992; Hayek's and Polanyi's classic texts; New Deal; The Great U-Turn; ascendant neoliberalism; cutting edge issues; great recession; hegemonic culture; neoliberalism; neoliberalism's wake; self-regulating market

Il sofisma economicista: intorno a Karl Polanyi - Caillé, Alain (sn, 2011)
KM translate: "The economic sophistry" and "The two meanings of" economic "", short writings by Karl Polanyi published here partially in a version taken from the French magazine MAUSS, represent a wonderful example of critical synthesis and set of depth of analysis, an analysis that comes to the conviction of the anthropological and social disaster caused not only by liberalism, but even more by the fallacy of an entire system of thought, economic science, which seeks to justify and support it. In support of the interesting pages of Polanyi, this book presents two contributions, respectively by Alain Caillé with Jean-Louis Laville and Jerome Maucourant, which, in addition to quickly presenting the intellectual biography of the Hungarian philosopher, clarify the extreme relevance of his critique of capitalism and the society of the markets. Polanyi emerges as an economist from the solid historical and anthropological foundations that, with his work, has been able to dismantle the apparently solid building of the classical economy to reveal its deceptive essence: that of a vast theoretical apparatus that attributes universal validity to a precise historical contingency, the liberal laissez-faire of nineteenth-century Europe. It is urgent - and this task the present publication intends to offer an agile contribution - rediscovering and actualizing the figure of Karl Polanyi, atypical but central in the intellectual panorama of the twentieth century. building apparently balance of the classical economy to unveil its deceptive essence: that of a vast theoretical apparatus that attributes universal validity to a precise historical contingency, the liberal laissez-faire of nineteenth-century Europe. It is urgent - and this task the present publication intends to offer an agile contribution - rediscovering and actualizing the figure of Karl Polanyi, atypical but central in the intellectual panorama of the twentieth century. building apparently balance of the classical economy to unveil its deceptive essence: that of a vast theoretical apparatus that attributes universal validity to a precise historical contingency, the liberal laissez-faire of nineteenth-century Europe. It is urgent - and this task the present publication intends to offer an agile contribution - rediscovering and actualizing the figure of Karl Polanyi, atypical but central in the intellectual panorama of the twentieth century.
Keywords: business & economics; economic theory

Polanyi on Markets, Democracy and the Crisis of Liberalism - Ebner, Alexander (The Beginnings of Scholarly Economic Journalism, 2011)
Karl Polanyi, who was born in 1886 in Vienna and died in 1964 in Pickering, Ontario remains a most influential theoretical figure in the social sciences, in particular stimulating both analytical and policy-related concerns that are related with the new institutionalism in economics, sociology and political science. Polanyian insights on the political economy of economic development from an institutional perspective have persistently shaped a variety of discourses that range from the theory of the welfare state to research in comparative economic systems and economic anthropology. Polanyi’s “Great Transformation” may be singled out as a key contribution to both the domains of economic sociology and political economy, as it addresses basic tensions between the developmental dynamics of the market economy and the institutional substance of political democracy (Block 2001).
Keywords: crisis of liberalism; early writings; methodology; methodology of the social sciences

Marketization, social protection and emancipation: ambivalences of feminism in the capitalist crisis - Fraser, Nancy (Revista Direito GV, 2011)
This article is a reflection on the perspectives of feminism in the context of the current crisis of neoliberal capitalism. It is based on the theories of Karl Polanyi that explained the historical process of the crises as a result of the conflict between two elements – marketization and social protection. However, Polanyi Kept out of sight forms of injustice that are not present in the market. He also had the tendency to excuse the social protection as an instrument of domination. This article takes a broader view on the analysis of the conflict between Marketization and social protection. It includes in the analysis a third dimension, the emancipation. The inclusion of this third element transforms the historical process in a three dimensional conflict and forms the heart of a quasi-polanyian perspective that is able to explain the crisis of the XXI century. This text develops this new perspective and uses it to analyze the bets in the emancipation of the gender hierarchy. The triple movement, thus constituted, can overcome the ambivalence of feminism, as the feminist agenda was often manipulated by neoliberalism. The redefinition of social protection in democratic, participatory, non-hierarchic and non-oppressive terms, opens the possibility to a new feminist politics. Keywords: Capitalism; Emancipation; Welfare State; Feminism; Gender.
Keywords: capitalism; emancipation; feminism; gender; welfare state

Marketization, Social Protection, Emancipation: Toward a Neo-Polanyian Conception of Capitalist Crisis - Fraser, Nancy (Business as Usual: The Roots of the Global Financial Meltdown, 2011)
BOOK ABSTRACT: Situates the current crisis in the historical trajectory of the capitalist world-system, showing how the crisis was made possible not only by neoliberal financial reforms but by a massive turn away from manufacturing things of value towards seeking profit from financial exchange and credit. Much more basic than the result of a few financial traders cheating the system, this is a potential historical turning point. In original essays, the contributors establish why the system was ripe for crisis of the past, and yet why this meltdown was different. The volume concludes by asking whether as deep as the crisis is, it may contain seeds of a new global economy, what role the US will play, and whether China or other countries will rise to global leadership. Contributors include: Giovanni Arrighi, Gopal Balakrishnan, Manuel Castells, Daniel Chirot, Fernando Coronil, Nancy Fraser, James K. Galbraith, David Harvey, Caglar Keyder, Beverly J. Silver, and Immanuel Wallerstein. The three volumes can purchased individually or as a set. Business as Usual is the first part of a trilogy comprised of the first three books in the Possible Future series. Volume 1: Business as UsualVolume 2: The Deepening CrisisVolume 3: Aftermath The three volumes are linked by a common introduction and can be purchased individually or as a set.
Keywords: capitalism; emancipation; feminism; gender; welfare state

Karl Polanyi, Globalisation and the Potential of Law in Transnational Markets - Joerges, Christian; Falke, Josef (Hart, 2011)
The patterns and impact of globalization have become a common concern of all international jurists, sociologists, political scientists, and philosophers. Many have observed the erosion of the powers of nation states and the emergence of new transnational governance regimes, and seek to understand their internal dynamics, re-regulatory potential, and normative quality. Karl Polanyi's seminal book - The Great Transformation - is attracting new attention to such endeavors, mirroring a growing sensitivity to the social and economic risks of dis-embedding politics. Their re-construction by Polanyi - including his warning against a commodification of labor, land, and money - provide the trans-disciplinary reference point for the contributions to this book. Political economy, political theory, sociology, and political science inform this discussion of Polanyi's insights in the age of globalization. Further theoretical essays and case studies look at his 'false commodities': money, labor (and services), and land (and the environment). Jurists have hardly ever discussed Polanyi, and the law has not been taken very seriously among 'Polanyians.' It is nevertheless clear that economic stability and social protection are simply inconceivable without the visible hand of law. The legal discussion in this book's concluding chapters do not, and cannot, depart directly from such premises. The framework of their analyses is, instead, informed by current debates on the emergence of para-legal regimes, the fragmentation of international law, and the prospects of constitutional perspectives within which the rule of law and the notion of law-mediated legitimate governance are established. Polanyi's notion of the co-originality of dis-embedding moves and re-imbedding countermoves can, however, be usefully employed in the re-construction of the sociological background of the moves and tensions which jurists discern.
Keywords: conflict of laws; jurisprudence; law - commercial; political science - history and theory

Y a-t-il une économie sartrienne ? - Kail, Michel; Sobel, Richard (L'Homme & la société, 2011)
RésuméEn dépit de l’absence d’un exposé économique systématique dans l’œuvre de Sartre, nous soutenons qu’il y a bien une économie sartrienne, même si celle-ci est encore à développer. Le statut que Sartre réserve à la « rareté » lui permet de faire un pas supplémentaire vers la critique de l’économisme par rapport à celui déjà effectué par Karl Polanyi, qui s’est contenté de récuser la confusion entretenue entre l’économique et sa définition formelle. La rareté, nous enseigne Sartre, ne saurait en effet être soumise au traitement de la raison instrumentale, mais considérée, ajoute-t-il, comme un fait humain dans l’histoire. Aussi, l’analyse économique ne doit-elle pas s’appuyer sur la notion de « nature » et la thématique de l’homme confronté à la nature, en l’occurrence « ingrate », mais articulée sur la notion de « monde » telle que la philosophie sartrienne l’élabore., Despite the absence of a systematic analysis of economics in Sartre’s work, we argue that there can indeed be said to be a Sartrean economics, even if it is one that still awaits development. The status which Sartre accords to the concept of Scarcity allows him to advance the critique of economism begun by Karl Polanyi, who, for his part, had been satisfied simply to challenge the reduction of economics to its formal definition. Scarcity, Sartre teaches us, should not be submitted to the process of instrumental reason, but considered as a fact of human history. Economic analysis, meanwhile, should not be based solely on the theme of man’s confrontation with a typically ungrateful Nature, but articulated through the concept of World as elaborated in Sartrean philosophy.
Keywords: SARTRE, Jean-Paul, 1905-1980; economic systems

Karl Polanyi and the New Economic Sociology: Notes on the Concept of (Dis)Embeddedness - Machado, Nuno Miguel Cardoso (Social Science Research Network, 2011)
Within the context of the New Economic Sociology, Karl Polanyi is almost universally considered the "father" of the concept of embeddedness. However, this concept has been subject to selective appropriation by this discipline and its relationship to the remaining theoretical edifice constructed by Polanyi has been neglected. It is, in fact, possible to refer to the "great transformation" to which the concept of embeddedness has been subjected: whereas in Polanyi’s work it is associated with the macro(economic) level and is used as evidence of the exceptional nature of the capitalist market economy –- disembedded from society –- in NES, it is normally associated with the meso (and even micro) level, on the assumption that all economies –- including capitalist economies -– are embedded. in RCCS Annual Review, No. 3, pp. 119-140
Keywords: Karl Polanyi; capitalism; embeddedness; market economy; new economic sociology

Avez-vous lu Polanyi ? - Maucourant, Jérôme (HAL, 2011)
"Cette étude présente le parcours intellectuel de Karl Polanyi (1886-1964), à la croisée de l'économie, de l'histoire et de la sociologie, et propose une synthèse de l'ensemble de son oeuvre." Postface accessible en ligne : [ http://www.contretemps.eu/lectures/bonnes-feuilles-avez-vous-lu-polanyi-j%C3%A9r%C3%B4me-maucourant-postface ]
Keywords: Great Transformation, The (Book); La Grande Transformation; critique and interpretation; critique et interprétation; libéralisme; économie politique

Whither the Counter-Movement? Hayek, Polanyi, and the Politics of No Alternative - Mudge, Stephanie (Conference Papers -- American Sociological Association, 2011)
This paper turns Karl Polanyi's concept of the "double movement" back on Polanyi and his intellectual contemporary, Friedrich Hayek, as a means to insight into the structural conditions of counter-movement in the second half of the 20th Century. After elaborating on the double movement concept, I contrast the trajectory of Polanyi and his greatest work, The Great Transformation, with that of Friedrich Hayek and his contemporaneous Road to Serfdom--treating each as protagonists in the movement/counter-movement system of relations that, for Polanyi, is the site of history's forward motion. Building on citation data, news articles, archival records and secondary sources, I argue that Polanyi's conditions of intellectual production--including a lack of economic allies in the capitalist West, professional instability, tenuous ties to academic economics, and a lifetime of financial insecurity--explain the ongoing quarantine of Transformation within the academic social sciences. These conditions of production contrast starkly with the Hayekian counterexample. Taken together, the analysis casts light on the ongoing hegemony of the "liberal creed" and the weakness of effective opposition: the trajectory of the two figures offers clues into how structures of intellectual production are linked to (or severed from) movement and counter-movement, offering insight into why, even in the face of financial crisis and significant public anger against the moneyed ranks of the financial sector, we continue to exist in a world of "no alternative".
Keywords: HAYEK, Friedrich A. von (Friedrich August), 1899-1992; POLANYI, Karl, 1886-1964; capitalism; intellectuals; protagonists (persons)

Karl Polanyi And The Great Transformation - Örmeci, Ozan (Sosyal Bilimler Dergisi, 2011)
Özet: 20. yüzyılın önde gelen iktisatçılarından olan Karl Polanyi (1886-1964), Büyük Dönüşüm adlı eserinde ortaya koyduğu özgün tezler ile halen kapitalizme en ciddi eleştiriyi getirmiş kişilerden biri kabul edilmektedir. Polanyi'nin klasik ENG: Karl Polanyi is known as one of the most famous economists of the world who strongly criticized liberalism and the idea of self-regulating market. Polanyi’s masterpiece The Great Transformation is still accepted as one of the most powerful critiques of liberal economics and many writers from different political backgrounds refer to this book while criticizing the dominant liberal economic understanding. The Great Transformation is a very rich and complex book in which Polanyi analyzes the evolution of the free-market ideology and the counter movement against the damages of liberal economics. Although Polanyi called himself as a socialist, his ideas are very dense and it is not easy to label him as a defender of certain ideology.
Keywords: Great Transformation, The (Book); review

Adventures of an Austrian Trio Abroad: The Influence of Schumpeter, Polanyi and Hayek in Turkey and the Dissemination of Their Work - Ozveren, Eyup (The Dissemination of Economic Ideas, 2011)
Keywords: Austrian; Keynesian; Keynesianism; evolutionary; general aggregative models: Keynes; history of economic thought; history of economic thought since 1925: historical; history of economic thought: individuals; institutional; post-Keynesian; role of economics; role of economists

Reading the Story of Law and Embeddesness through a Community Lens: A Polanyi-Meets-Cotterrell Economic Sociology of Law [article] - Perry-Kessaris, Amanda (Northern Ireland Legal Quarterly, 2011)
In this paper I propose that role of law in Karl Polanyi's concept of the 'always embedded economy' (Block 2003) can be enriched by the application of the lens of community (Perry-Kessaris 2008) developed by Roger Cotterrell (1996-present). I begin with Polanyi's suggestion that economic action and interaction are always 'embedded' in wider social life. Reading through the lens of community, we can be more specific: any actor is at once engaged, to different degrees (from fleeting to stable), in multiple types (whether focusing on instrumental, traditional, affective and/or belief-based action) of social life. I then explore a second, implicit, cornerstone of Polanyi's argument: that analytical and normative approaches to economy may become dis-embedded from wider social life. Reading through the lens of community we can again be more specific: In the transformation to a market society, the analytical and normative approaches that are central to economic actions and interactions are confused with, and privileged over, those that are central to non-economic actions and interactions. This confusion and privileging can have what we might call a performative effect on action and interaction. Finally, I explore Polanyi's story of law as a facilitator both of dis-embedding movements and of re-embedding counter-movements. The application of a law-and-community lens suggests some additional details of that storyline and that there are additional plotlines to be pursued. The practical potential of this Polanyi-meets-Cotterrell economic sociology of law is briefly illustrated with references to two 21st Century cautionary tales: the World Bank's investment climate programme and the 2008 financial crisis.
Keywords: COTTERRELL, Roger; United Kingdom; economic sociology of law; embeddedness; investment climate; law and community

À propos de « ceux qui sont en dehors de la société ». L'indigent et l'assistance publique au Québec dans la première moitié du XXe siècle - Petitclerc, Martin (Revue d'histoire de L'Amerique francaise. automne2011/hiver2012, Vol. 65 Issue 2/3, p227-256. 30p., 2011)
The “ Loi établissant le service de l'assistance publique" (Public Welfare Act) sparked considerable controversy after its adoption in 1921 .The Act provided for provincial and municipal grants to private and religious institutions providing shelter to the poor and destitute. Led by Henri Bourassa, among others, the debate concerned the problem of state intervention in an area traditionally conceived of as the responsibility of the Church. In contradiction to Bourassa's theories, most historians analyzed the A c t through the rubric o f modernization as a necessary affirmation of State prerogatives in the area of social protection. In this article, we argue that this Act is an attempt (largely successful) to consolidate a form of liberal governmentality based on, since the 19th century, what Karl Polanyi termed “the figure of the pauper" According to this perspective, the 1921 A c t is not a significant stage in the age-old struggle between Church and State, but rather a time of reform in liberal politics in regards to "the indigent 'The latter leggally defined as unable to work and without family support, and therefore “ outside of society," an expression of the day, allowed justifying the development o f a private/public system of charitable assistance against the project o f social policies founded on a universal conception of social rights. The article presents this dynamic through an analysis of the contentious issue of the rights of indigents to public assistance. (English)
Keywords: BOURASSA, Henri, 1868-1952; Canada; Quebec; church & state - Canada; liberalism - Canada; poor people - Canada; poor people - government policy; poor people - services for - history; public welfare - Canada - history

Polanyi contre Freeman. (Polanyi against Freeman. With English summary.) - Postel, Nicolas; Sobel, Richard (Revue de la Regulation, 2011)
The dominant approach of CSR is based on the concept of "stakeholders" (R. E. Freeman). More than a theory, it is a slogan which irrigates as much the scientific discourse as the manager and political discourses. We can make two readings of this slogan. The first one, which is very reducing for us, consists on the deconstruction of the firm as institution and its replacement by a market representation based on bilateral exchanges between rational individuals. The second one, more promising in order to identify the potentialities of CSR in terms of regulation, intends to found the notion of stakeholder on a theory of actor and institution. It is the position which we defend by mobilizing Karl Polanyi's institutionalism.
Keywords: Marxian; Sraffian; business objectives of the firm; corporate culture; current heterodox approaches: institutional; current heterodox approaches: socialist; diversity; evolutionary; social responsibility

Double Movements of Destruction and Regulation: Commodity Chains and a New Political Economy of the Environment - Roberts, J.; Carmin, JoAnn; Rudel, Thomas (Conference Papers -- American Sociological Association, 2011)
Sociologists have examined the ways in which capitalism contributes to environmental degradation as well as how, in selected circumstances, it increases efficiency while reducing pollution and human injustices. In this review, we draw on Polanyi's concept of the double movement to illustrate how self regulating markets give rise to environmental degradation and inequities and, in response, how these conditions often stimulate the emergence of collective action in pursuit of regulatory and social reforms. This process is iterative, with capitalist initiated degradation of the environment followed by regulatory reform and then efforts to weaken the regulatory regimes. We illustrate how resource extraction contributes to environmental degradation and power inequalities, pollution from industrial production is unequally distributed among workers and communities, and how the desire to limit exposure to risk has opened new markets and led to policies that contribute to consumption.
Keywords: capitalism; commodity chains; consumption (economics); double movement; environmental degradation; industries; pollution

Towards a Neo-Polanyian Political Economy of Development - Sandbrook, Richard (Conference Papers -- International Studies Association, 2011)
The Global South has entered an era of ideological flux. The inadequacies of neoliberalism have spawned a widespread questioning of this dominant worldview. Intellectuals and political movements search for an alternative development ideology that explains what has gone wrong, provides a vision of a more desirable future and suggests a process for achieving this goal. Responding to these challenges, the World Bank and other purveyors of the dominant model have undertaken a gradual shift from an unpopular and inefficacious “Washington Consensus” to a more complex and politically progressive “Post-Washington Consensus”. This shift, though blunting the attack on neoliberalism, has moved the debate on legitimate development strategies to the left and towards more statist approaches. Socialism, the developmental state, social democracy, and emancipatory community-based development have moved back into development discourse. In an earlier era of ideological flux, Karl Polanyi probed the origins of the implosion of economic liberalism in the Great Depression and two world wars, as well as the alternatives that might, by re-embedding the economy in society, allow people to live freer and more secure lives. These reflections came together in The Great Transformation, his masterwork that appeared in 1944. Although Polanyi studied a different era (1830-1940) and focused on Europe, his ideas have inspired an outpouring of studies on contemporary problems and prospects in the neoliberal era (since 1980). The bulk of these studies pertain to industrial countries or global economic issues. However, the human, environmental and financial impact of market deregulation is arguably more devastating in the ‘developing’ countries than in the core. A question thus arises: do Polanyi’s reflections on progressive alternatives to liberalism clarify contemporary debates on progressive alternatives to neoliberalism in the Global South?
Keywords: Global South; World Bank; economic development; global south; ideology; political movements; social democracy; socialism

A contribuição de Karl Polanyi para a sociologia do desenvolvimento rural - Schneider, Sergio; Escher, Fabiano (Sociologias, 2011)
O ensaio aborda a importância da redescoberta do pensamento de Karl Polanyi e de sua crítica à "sociedade de mercado" na retomada dos estudos e debates sobre o desenvolvimento (rural). Após uma apresentação geral do quadro teórico e analítico de Polanyi, buscamos utilizar seus conceitos para interpretar a dinâmica da mercantilização dos meios de vida e das formas sociais de trabalho e produção no espaço rural, bem como dos sistemas agroalimentares no capitalismo contemporâneo. Com base nestas proposições, refletimos sobre o papel dos atores sociais e das instituições nos processos de mudança social em geral e os de desenvolvimento rural em particular. Finalizamos, propondo algumas potencialidades dessa abordagem para os estudos sobre desenvolvimento rural no Brasil. ENG: The essay deals with the importance of the rediscovery of Karl Polanyi's thinking and of his criticism of the "market society" in resuming (rural) development studies and debates. Following an overall presentation of Polanyi's theoretical and analytical framework, we look for using his concepts to interpret the commoditization dynamics of the rural livelihoods and the social forms of labor and production in the rural space, as well as the commoditization of the agri-food systems in the contemporary capitalism. Based on these statements, we reflect about the role of social actors and institutions in the processes of social change at large and of rural development in particular. And, finally, we propose some potentialities of this approach for the rural development studies in Brazil.
Keywords: commoditization; institutions; rural development; social actors

Not Free Emerging of Free Market--'The Great Transformation' by Karl Polanyi. (In Bulgarian. With English summary.) - Sedlarsky, Theodor (Economic Thought, 2011)
An attempt was made to sum up the basic socio-economic issues in Karl Polanyi's book "The Great Transformation", which is less known by the economists in our country. Suggesting an alternative to Marx's market economic analysis at the early stages of establishing and imposing the capitalist social system, this significant work of Polanyi questions at the same time a lot of the postulates of the modern liberal economic doctrines. The study highlights the formation of free market not as a natural process, based on natural human aptitudes, but on the contrary--as forcing a framework of rules, contrary to the traditional social organization of the people.
Keywords: Bulgaria; Great Transformation, The (Book); Marxian; Marxist; Sraffian; capitalist systems: political economy; current heterodox approaches: socialist; history of economic thought since 1925: socialist; history of economic thought: individuals; review

Market Society or Society of Marketness? An Analysis Based on the Controversy between Karl Polanyi and Douglass North--《Sociological Studies》2011年04期 - Yonghua, Liu (2011)
Karl Polanyi and Douglass North hold totally opposite views on the understanding of the industrial revolution.The former analyses the formation of market society within the framework of mutual benefit,reallocation and market analysis,while the latter is interested in the essential importance of transaction cost and institutional transition to the industrial revolution.This paper attempts to rediscover the implication of modern society and the sense of freedom which is closely related to it by illuminating these two scholars' understandings.
Keywords: NORTH, Douglass; industrial revolution; market society

“The Great Transformation” and Suicide: Local and Long-Lasting Effects of 1930 Bank Suspensions - Baller, Robert D.; Levchak, Phil; Schultz, Mark (Suicide and Life-Threatening Behavior, 2010)
Depression-era bank suspensions and failures are conceptualized as products of the first part of what Polanyi (1994) called “The Great Transformation,” which involved an imbalanced institutional arrangement in which the economy dominated other institutions. Relying on Durkheim (1897/1951) and Merton (1938, 1968), it is argued that these banking problems accentuated the type of chronic anomie that Durkheim theorized would create normative deregulation and elevated suicide rates over the long-term. Results from county-level analyses are supportive as the 1930 bank suspension rate is positively related to the 2000 suicide rate, controlling for contemporary and historical factors. The mediating roles of integration and chronic anomie are considered, with the latter measured using data from the geocoded General Social Survey.
Keywords: DURKHEIM, Emile; MERTON, Robert; The Great Depression; anomie; countermovement; suicide; suicidology

Neoliberalism and the Biophysical Environment 2: Theorising the Neoliberalisation of Nature - Castree, Noel (Geography Compass, 2010)
There now exists a significant body of theoretically informed empirical research into ‘neoliberal environments’. It comprises numerous studies which together explore the connections between neoliberal principles and policies, on the one side, and the biophysical world on the other. However, making sense of them is by no means straightforward, despite their common focus on neoliberal environments. It is currently left to readers of these studies to synthesise them into a wider, joined-up account of neoliberal environments. This and two companion articles aim for precisely this sort of broad and coherent understanding. The contribution of this second instalment is to present an overarching political economic theory of ‘neoliberal environments’. By synthesising concepts from the work of Karl Marx, Karl Polanyi and James O’Connor, this article presents a framework for thinking about how neoliberal policies relate to the biophysical world.
Keywords: MARX, Karl, 1818-1883; O'CONNOR, James; neoliberal environments

Simultaneous Transitions: Democratization, Neoliberalization, and Possibilities for Class Compromise in South Korea - Kim, Wonik (Review of Radical Political Economics, 2010)
The purpose of this paper is to bring class compromise back into the study of South Korean political economy and present it as a possible alternative to the overwhelmingly one-sided neoliberal trajectory in South Korea. The process and conditions under which positive class compromise is acquired are identified in terms of the Polanyi-Gramsci nexus. This perspective suggests that the restoration of state-led developmentalism would be unfeasible under a democratic regime, while the implementation of a purely neoliberal blueprint may lead to unproductive class conflict. Employing this theoretical framework, I examine possibilities for positive class compromise in the context of the simultaneous transitions—democratization and neoliberalization—in South Korea. JEL classification: B5, H7, O53, P5
Keywords: GRAMSCI, Antonio, 1891-1937; Gramsci; class compromise; democratization; developmental state; neoliberalism

Polanyi's Double Movement and Neoliberalization in Korea and Japan - Kim, Wonik (Social Movement Studies, 2010)
This paper reformulates and extends Polanyi's main insights in The Great Transformations (2001 [1944]) and attempts to theorize the societal countermovement against neoliberalism by illustrating the cases of Korea and Japan. Polanyi's main approach was to synthesize three critical domains: the state, market, and society, and his notion of double movement should be understood as such. Predicated on his double movement, I analytically decompose the mechanism of societal countermovement, emphasizing the importance of social organizations that aggregate people's insecurities and translate them into a political voice capable of acquiring social protection. Applying this analytical framework of the double movement to Korea and Japan reveals that the problem with the conventional understanding of the double movement is that it necessarily arrives at social compensation equilibrium. This paper implies that a highly contentious society, like Korea's, and a highly docile society, like Japan's, may both hinder social welfare provision.
Keywords: Japan; Korea; civil society; civil society organizations; double movement; neoliberalism; social movement studies

Labour as a (Fictitious) Commodity: Polanyi and the Capitalist ‘Market Economy’ - Paton, Joy (The Economic and Labour Relations Review, 2010)
In The Great Transformation, Karl Polanyi problematised the commodity status of labour. He described it as ‘fictitious' and asserted the human aspect of labour necessitates ‘protection’. In bringing Polanyi's mature works to bear on these claims, this article uses the ‘fictitious commodity’ concept to highlight the tension in neoclassical theory between concrete reality and its idealist construction of the economy. This contradiction directly challenges the veracity of the self-regulating market. The article develops two related themes. The first is Polanyi's critique of the neoclassical conception of ‘the economy’ as an ideal (market) construct which gave rise to the notion that labour could be regulated by the forces of supply and demand. The second is the lack of logic in the notion of a ‘self regulating’ market and Polanyi's appreciation of the concrete tendencies of capitalist economies to develop institutional arrangements that ensure the economy is always, and necessarily, more than ‘the market’.
Keywords: capitalist economy; fictitious commodities; fictitious commodity; institutionalisation; labour; laissez-faire; markets; political economy; regulation; self-regulation; social embeddedness

From Pollyanna to the Pollyanna Principle. A Response to Michael Burawoy's 'From Polanyi to Pollyanna: The False Optimism of Global Labour Studies' - Caspersz, Donella (Global Labour Journal, 2010)
Keywords: BURAWOY, Michael; labor studies; labour studies; pollyanna principle

'False' Optimism: The Key to Historic Breakthroughs? A Response to Michael Burawoy's 'From Polanyi to Pollyanna: The False Optimism of Global Labour Studies' - Clawson, Dan (Global Labour Journal, 2010)
Keywords: BURAWOY, Michael; borderline; global labor studies; global labour studies

From Critical Sociology to Combat Sport? A Response to Michael Burawoy's 'From Polanyi to Pollyanna: The False Optimism of Global Labour Studies' - Webster, Edward (Global Labour Journal, 2010)
Keywords: BURAWOY, Michael; double movement; global labour studies; globalization

Karl Polanyi e a Nova Sociologia Económica: Notas sobre o conceito de (dis)embeddedness - Machado, Nuno Miguel Cardoso (Revista Crítica de Ciências Sociais, 2010)
No contexto da Nova Sociologia Económica, Karl Polanyi é quase consensualmente considerado o “pai” do conceito de incrustação (embeddedness). Todavia, este conceito foi alvo de uma apropriação selectiva por parte da disciplina, sendo negligenciada a sua relação com o restante edifício teórico construído por Polanyi. Pode, com efeito, falar‑se de uma “grande transformação” sofrida pelo conceito de incrustação: se em Polanyi ele está associado a um nível macro(económico) e é utilizado para evidenciar o carácter excepcional da economia capitalista de mercado – que se encontra desincrustada da sociedade –, na NSE, por seu turno, é normalmente associado a um nível meso (e até micro), sendo preconizado que todas as economias – incluindo a capitalista – estão incrustadas. ENG translation: Within the context of New Economic Sociology, Karl Polanyi is almost universally considered the “father” of the concept of embeddedness. However, this concept has been subject to selective appropriation by this discipline and its relationship to the remaining theoretical edifice constructed by Polanyi has been neglected. It is, in fact, possible to refer to the “great transformation” to which the concept of embeddedness has been subjected: whereas in Polanyi’s work it is associated with the macro(economic) level and is used as evidence of the exceptional nature of the capitalist market economy – disembedded from society – in NES, it is normally associated with the meso (and even micro) level, on the assumption that all economies – including capitalist economies – are embedded.
Keywords: Karl Polanyi; Nova Sociologia Económica; capitalismo; economia de mercado; economic sociology; embeddedness; incrustação

Decommodification and Egalitarian Political Economy - Vail, John (Politics & Society, 2010)
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 is urgently required. Decommodification would insulate non-market spheres from market encroachments; increase the provision of public goods and expand social protection; promote democratic control over the market by creating economic circuits grounded in a logic predicated on social needs rather than profit; and undermine market hegemony by revealing the market’s true social costs and consequences. By ensuring basic needs, enhancing individual capacities and capabilities, and promoting social cooperation and collaboration, decommodification constitutes a central feature of an egalitarian agenda.
Keywords: decommodification; double movement; icy silence; sociology

The Foundation of the Modern National Economy and Discipline over Its Monetary Discourse: A Consideration from the Perspective of Polanyian Economics - Wakabayashi, Shigetaro (Journal of Economic Issues (Taylor & Francis Ltd), 2010)
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 central bankers' conduct in the great liquidity crisis of 2007/8. What are we to do for this?
Keywords: Polanyi's institutionalism; bankers' associations; banking industry - economic aspects; capitalists & financiers; commercial banking system; crises - economic aspects; currency discipline; discourse; discourse and discipline; liquidity (economics); monetary policy; money; negotiation - social aspects; society and the economy

The global financial crisis of 2008–2009: an opportunity for development studies? - Copestake, James (Journal of International Development, 2010)
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 policy responses with particular reference to India (based on the conference presentation by Mehrotra), China (based on the paper by de Haan) and the 2009 DFID White Paper. Third, it considers two possible additional sources of finance for developing countries: South Korean aid (discussed by Chun et al.) and new forms of international money (discussed by Hudson). The paper concludes that while the crisis is a reminder of structural global economic interconnectedness a challenge for development studies is to combine this fact with analysis that is also interdisciplinary, multi-tiered and policy relevant. Copyright © 2010 John Wiley & Sons, Ltd.
Keywords: 2009 DFID White Paper; China; capitalism; development economics; development studies; global financial crisis; international development; international economic integration

Power and Progress: The Swing of the Pendulum - Stewart, Frances (Journal of Human Development & Capabilities, 2010)
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 change—this time against market domination—in a number of developing countries. The paper concludes that Polanyi's view of the conditions behind policy change—notably long-term political movements, political struggle and political conflict—needs to be introduced into the analysis of policy change for the promotion of human development and the expansion of capabilities.
Keywords: developing countries; government policy; human development; legislation; policy sciences; policy swings; political economy; political planning

Five Theses on the Common - Roggero, Gigi (Rethinking Marxism, 2010)
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 relations of production. I distinguish between commons and the common: the first model is related to Karl Polanyi, the second to Karl Marx. As elaborated in the postoperaista debate, the common assumes an antagonistic double status: it is both the plane of the autonomy of living labor and it is subjected to capitalist “capture.” Consequently, what is at stake is not the conservation of “commons,” but rather the production of the common and its organization into new institutions that would take us beyond the exhausted dialectic between public and private.
Keywords: MARX, Karl, 1818-1883; Marxism; capitalism; class composition; cognitive capitalism; common; commons; financialization; model-based reasoning; operaismo; production (economic theory); subjectivity

Globalisation and the Commodification of Labour: Temporary Labour Migration - Rosewarne, Stuart (Economic and Labour Relations Review, 2010)
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 impression. Encapsulated in migration-development discourse, labour migration, like other commodities, is presented as a means of generating export revenue for the South. Karl Polanyi's critique of this market-defined construct of labour as a commodity, when labour can only ever be a fictitious commodity, provides a basis for contesting the representation of labour in the migration-development discourse. However, recourse to a Marxist method is held to be essential if we are to move beyond an appreciation of the process in order to interrogate the rationale that is driving the transformation of labour.
Keywords: Marxian; Sraffian; commodification; current heterodox approaches: socialist; fictitious commodities; geographic labor mobility; globalization; immigrant workers; labor migration; labour migration; migrant; migrant workers; migration; value theory

Uncertainty Markets and Carbon Markets: Variations on Polanyian Themes - Lohmann, Larry (New Political Economy, 2010)
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, dicing and circulating diverse types of uncertainty; the resulting unchecked pursuit of liquidity led to a catastrophic drying up of liquidity. The carbon markets, meanwhile, by identifying global warming solutions with reductions in an abstract pool of tradable pollution rights and linking them with 'offsets' manufactured through quantitative techniques, ended up blocking prospective historical pathways toward less fossil fuel dependence and thus exacerbated the climate problem. Unsurprisingly, both markets have provoked strong, if diverse and confused, movements of societal self-defence. This pattern of action and reaction constitutes a chapter in the political history of commodification as significant in some ways as that describing the movements to commodify land and labour analysed by Karl Polanyi.
Keywords: atmospheric carbon dioxide; cap and trade; carbon credits; carbon offsetting; carbon trading; climate policy; derivatives; emissions trading; financial crisis; greenhouse gas mitigation; offsets

From Polanyi to Pollyanna: The False Optimism of Global Labor Studies - Burawoy, Michael (Global Labour Journal, 2010)
Keywords: EVANS, Peter, 1944-; MARX, Karl, 1818-1883; counter-hegemonic globalization; critique; labor studies; labour studies

The Aporia of Power: Crisis and the Emergence of the Corporate State - Kapferer, Bruce (Social Analysis, 2010)
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 nationalist capitalism of the state led to a radical change in the political and social orders of states, gradually giving rise to the corporate state assemblage. The emphasis here is on the corporate state as a socio-political order that places radically distinct structural dynamics into impossible conjunction, leading to progressively disastrous social effects concerning poverty and the emergence of new configurations in which war and violence take specific shapes.
Keywords: Great Transformation, The (Book); bureaucratic processes; corporate state; crisis; economism; globalization; individualism; nation-state; poverty; power (social sciences); reterritorialization; violence; war; war machine

The Idea of a Three-Dimensional Conflicts Law as Constitutional Form - Joerges, Christian (RECON Online Working Paper 2010/05, 2010)
‘Constitutionalisation’ is the key concept in the search for legitimate governance in the European Union and in the international system. This paper suggests the revitalising of a discipline which is widely neglected in European law and international law scholarship. It does not, however, recommend a return to the conflict of laws (private international law) in the traditional sense. The new type of conflicts law that the paper advocates is not concerned with selecting the proper legal system in cases with connections to various jurisdictions. This conflicts law is conceptualised as a response to the increasing inter-dependence of formerly more autonomous legal orders and to the democracy failure of constitutional states which result from the external effects of their laws and legal decisions on foreign systems and on their citizens who cannot understand themselves as their authors. European law has a vocation and many means both to compensate for the democracy failures of member states and to build upon this potential in its constitutionalisation. The conflicts law approach also provides new, albeit more restrained, perspectives at international level. WTO law is used to explore and document its constitutional perspectives. The conflicts law approach is differentiated into three dimensions. With this differentiated fabric, the approach responds to transformation processes which have affected contemporary law at all levels of governance after the rise of regulatory politics and the turn to governance. In its second dimension, conflicts law seeks to constitutionalise co-operative problem-solving under the lead of administrative bodies, while its third dimensions is concerned with both the recognition and the supervision of transnational governance arrangements and para-legal regimes.
Keywords: BLOCK, Fred; Europeanisation; World Trade Organization (WTO); always socially embedded' economy; constitutionalisation; deliberative democracy; economic law; economic sociology; multilevel governance; private international law; rule of law; social embeddedness; social regulation; supranationalism

Decency in Anglo-American Financial Centres? - Pixley, Jocelyn (Thesis Eleven, 2010)
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 life. Any new, partial utopia (as Keynes's was too - to remove the egregious, humiliating features of 'the society in which we live') is yet to be devised. Maria Markus's concept is useful to ask whether the instrumentalism of macro-economic concepts is a distortion of the institutions of money or intrinsic to them. Could solidaristic compromises through civil society minimize disrespectful relationships embedded in money to create decent institutions?
Keywords: MARKUS, Maria; POLANYI, Karl, 1886-1964; decent economic institutions; economic democracy; economic systems; embeddedness; essay (literary form); financial centres; social integration; utopias

Cultural political economy and critical policy studies - Jessop, Bob (Critical Policy Studies, 2010)
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 terms of the evolutionary mechanisms of variation, selection, and retention and, in this context, also highlights the role of specific forms of agency and specific technologies. These general propositions are illustrated from ‘economic imaginaries’ (other types of imaginary could have been examined) and their relevance to economic policy. Brief comments on crisis-interpretation and crisis-management give this example some substance. The conclusion notes some implications for research in critical policy studies.
Keywords: complexity; crisis; crisis-management; cultural political economy; cultural turn; finance-led accumulation; green new deal; neoliberalism

The Globalization of Addiction: A Study in Poverty of the Spirit - Alexander, Bruce (Oxford University Press, 2010)
'The Globalization of Addiction' presents a radical rethink about the nature of addiction. Scientific medicine has failed when it comes to addiction. There are no reliable methods to cure it, prevent it, or take the pain out of it. There is no durable consensus on what addiction is, what causes it, or what should be done about it. Meanwhile, it continues to increase around the world. This book argues that the cause of this failure to control addiction is that the conventional wisdom of the 19th and 20th centuries focused too single-mindedly on the afflicted individual addict. Although addiction obviously manifests itself in individual cases, its prevalence differs dramatically between societies. For example, it can be quite rare in a society for centuries, and then become common when a tribal culture is destroyed or a highly developed civilization collapses. When addiction becomes commonplace in a society, people become addicted not only to alcohol and drugs, but to a thousand other destructive pursuits: money, power, dysfunctional relationships, or video games. A social perspective on addiction does not deny individual differences in vulnerability to addiction, but it removes them from the foreground of attention, because social determinants are more powerful. This book shows that the social circumstances that spread addiction in a conquered tribe or a falling civilisation are also built into today's globalizing free-market society. A free-market society is magnificently productive, but it subjects people to irresistible pressures towards individualism and competition, tearing rich and poor alike from the close social and spiritual ties that normally constitute human life. People adapt to their dislocation by finding the best substitutes for a sustaining social and spiritual life that they can, and addiction serves this function all too well. The book argues that the most effective response to a growing addiction problem is a social and political one, rather than an individual one. Such a solution would not put the doctors, psychologists, social workers, policemen, and priests out of work, but it would incorporate their practices in a larger social project. The project is to reshape society with enough force and imagination to enable people to find social integration and meaning in everyday life. Then great numbers of them would not need to fill their inner void with addictions.
Keywords: clinical psychology; disease & health Issues; psychiatry; psychology; psychopharmacology; public health; social science

How Moving to Quebec Has Affected My Theology - Baum, Gregory (Toronto Journal of Theology, 2010)
In this lecture given at the 2009 meeting of the American Academy of Religion in Montreal, Gregory Baum reports how moving to Quebec has affected his practical theology. He mentions three issues of great importance to this French-speaking society that demanded new ethical reflection on his part: the character of an ethically acceptable nationalism, the appropriate response to the cultural weight of English in North America, and an acceptable alternative to Canadian multiculturalism. Thanks to the Montreal-based Karl Polanyi Institute, Baum discovered Karl Polanyi's socio-economic thought critical of the unregulated market system, that differs from Marxism, attends to cultural and ethical issues, and reveals a certain affinity with Catholic social teaching. Polanyi offers a theoretical foundation for the social economy and community efforts to reform society from the bottom up.
Keywords: American Academy of Religion - Congresses; BAUM, Gregory; Montreal; Polanyi institute; Quebec; bilingualism; conferences & conventions; congresses; inter-culturalism; nationalism; religious life; religious studies

Globalization, Crisis and Social Transformation: A View from the South - Munck, Ronaldo (Globalizations, 2010)
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 the crisis from a global (globalization) perspective emphasizing its impact in the South and what that it might mean in terms of political prospects. I then go on to develop a hybrid Karl Polanyi/Antonio Gramsci theoretical lens on counter-movements based on their writings responding to the last systemic capitalist crisis in the 1930s. Finally, I turn to the ways in which the international labour movement and the subaltern or post-colonial worlds are contesting the terrain vacated by unregulated market capitalism. As Gramsci would say the old is dying but the new has not yet been born. La narrativa dominante alrededor de la crisis capitalista revelada, esta firmemente enfocada a las economias dominantes, y particularmente E.E.U.U. Esto es comprensible, dado que las proximas causas de la crisis yacen en la region central imperial y las medidas de resolucion de la crisis que se tomaron alli tendran un impacto global. Pero se necesita un 'punto de vista desde el sur' para compensar el equilibrio y prevenir la devastacion de las posibilidades de las mayorias globales presentadas como simple dano colateral. La primera seccion abajo trata la crisis desde una perspectiva global (globalizacion), enfatizando su impacto en el sur y lo que eso puede significar en terminos de prospectos politicos. Luego procedo con el desarrollo de una lente teorica hibrida de Karl Polanyi/Antonio Gramsci sobre movimientos opuestos en base a sus escritos que responden a la ultima crisis capitalista sistemica en la decada de 1930. Finalmente, vuelvo a las maneras en las cuales el movimiento laboral internacional y los mundos subalternos o postcoloniales estan disputando el terreno vacio por el mercado capitalista sin regulacion. Como Gramsci diria, lo viejo se esta muriendo, pero lo nuevo no esta aun por nacer. [image omitted]
Keywords: GRAMSCI, Antonio, 1891-1937; South; capitalism; countermovement; crisis; financial crises; financial crisis; globalization; hegemony; international markets; labour; post-colonial; social change; transformation

L’Encastrement Social des Marchés. Éléments théoriques et empiriques pour une analyse en termes de réseaux relationnels - Plociniczak, Sébastien (Revue de la régulation. Capitalisme, institutions, pouvoirs, 2010)
Despite the core role played by market in economic theoretical frameworks, the market is still little addressed and finally remains a vague type at best equivoque. This thesis aims to contribute to a collective pattern devoted to the diversification of market analysis since the 70s. This collective pattern is the New Economic Sociology, founded and built on a central idea, i.e. the embeddedness. In the perspective of Karl Polanyi and Mark Granovetter’s works, the thesis intends thus to enlighten first the use of this idea as the necessary clarification does not occur until now. Then, it puts forward the fact that an analysis of markets may definitely benefit from a deeper understanding of the multilateral logic of relational networks. At last, on the base of main assumptions defined in this thesis, the robustness of the heuristic contractual model of the Transaction Costs Economics depicted by Oliver E. Williamson is assessed.
Keywords: capital social; contrat; coûts de transaction; embeddedness; encastrement; forme hybride; institutions; marchés; réseaux relationnels; social capital

An Australian international political economy? The high road and the low road - Leaver, Richard (Australian Journal of International Affairs, 2010)
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.
Keywords: Australia; economic policy; international economic relations; international relations; policy sciences

Hannah Arendt et Karl Polanyi : le libéralisme économique, l'effondrement du politique et la société de masse, Abstract - Azam, Geneviève (Revue du MAUSS, 2010)
RésuméDans les années 1930, Hannah Arendt et Karl Polanyi ont partagé l’expérience du déracinement, de la désolation et celle de l’effondrement de la civilisation du xixe siècle. À partir de l’analyse de la société de marché pour K. Polanyi et de la condition de l’homme moderne pour H. Arendt, ils montrent comment l’économisme et la construction d’une société économique au xixe siècle, sont à l’origine de l’avènement de la société de masse qui porte des tendances totalitaires. Leur regard croisé donne des clés de compréhension des menaces qui pèsent qui pèsent sur nos « sombres temps »., In the 1930s, H. Arendt and K. Polanyi shared the experience of rootlessness and the collapse of nineteenth century civilisation. Through the analysis of the market society (K. Polanyi) and the condition of modern man (H. Arendt), they analyse how economicism and the advent of an economic society in the nineteenth century have engendered mass societies which carry totalitarian tendencies. This double perspective gives some keys to understand the threats of our « dark times ».
Keywords: ARENDT, Hannah; economic liberalism; mass society

D/developments after the Meltdown - Hart, Gillian (Antipode, 2010)
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 decolonization and the Cold War, and capitalist development as a dynamic and highly uneven process of creation and destruction. Closely attentive to what Gramsci calls “the relations of force at various levels”, my task in this essay is to suggest how the instabilities and constant redefinitions of official discourses and practices of Development since the 1940s shed light on the conditions in which we now find ourselves.
Keywords: GRAMSCI, Antonio, 1891-1937; US hegemony; United States; capitalism; capitalist crisis; development; economic development; essay (literary form); hegemony; militarism

A British Bureaucratic Revolution? Autonomy Without Control, or "Freer Markets, More Rules." - Le Galès, Patrick; Scott, Alan (Revue Française de Sociologie, 2010)
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 institutions and rules that are lastingly reorienting actors' behavior. The example of the healthcare field is examined in order to identify the specific mechanisms that have been impacting on behavior within an approximately ten-year period; namely, the introduction of 1) competitive practices (sanction/reward) and 2) auditing and inspection. If this interpretation is valid, then it is reasonable to assume that the effects of this bureaucratic revolution extend beyond Britain.
Keywords: Great Britain; bureaucracy; medical care; revolutions; social change

Now and Then - Watts, Michael J. (Antipode, 2010)
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 challenge of radicalism and its meanings. Whether we agree with Perry Anderson that the last vestiges of the 1960s have been finally swept away, that the “fluent vision” of the Right has no equivalent on the Left and that embedded liberalism is now as remote as “Arian bishops”, where do radical alternatives stand in relation to the fractured hegemony of neoliberalism? At the very least the need for alternatives is more pressing than ever. David Harvey has proposed rethinking the idea of “the right to the city”. But what other rights might we rethink? I reflect upon this question by returning to the 1960s and 1970s and Marxist debates over the law, and by thinking about the possibilities offered by this Polanyian moment.
Keywords: ANDERSON, Perry; Magna Carta; Marxist philosophy; Polanyi moment; Polanyian moment; common law - history; commons; essay (literary form); law; law - political aspects; markets; radicalism; scholarly periodicals

Who decides what is fair in fair trade? The agri-environmental governance of standards, access, and price - Bacon, Christopher M. (The Journal of Peasant Studies, 2010)
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 coffee price standard. Many Southern smallholders consider Fair Trade's standards, which for coffee include direct market accesses for smallholder cooperatives, minimum prices, and environmental criteria, among the best deals available. The smallholder empowerment benefits are often better than competing eco-labels. However, this study finds that Fair Trade minimum prices lost 41 percent of their real value from 1988 to 2008. Despite objections from several ‘market driven’ firms and national labelling initiatives, smallholders' collective advocacy and this research contributed to the Fairtrade Labelling Organisations International's (FLO) decision to mandate a 7–11 percent minimum price increase. The price debates demonstrate that Fair Trade governance is neither purely neoliberal nor social movement led – it is a highly contested socially embedded practice. Voices without votes, North–South inequalities, and dwindling prices paid to its stated protagonists indicate the need for governance reform, cost of living price adjustments, and additional investment in the innovative alternative trade and hybrid models.
Keywords: double movement; eco-labels; environmental and agricultural governance; environmental science; environmental studies; fair trade; peasant studies; standards; sustainability

Crisis, Continuity and Change: Neoliberalism, the Left and the Future of Capitalism - Castree, Noel (Antipode, 2010)
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 probably a long way off. I make my case in two stages and at two geographical scales. First, I examine the British social formation as currently constituted and explain why even a leading neoliberal state is failing to reform its ways. Second, I then scale-up from the domestic level to international affairs. I examine cross-border emissions trading—arguably the policy tool for mitigating the very real prospects of significant climate change this century. The overall conclusion is this: even though the “first” and “second” contradictions of capital have manifested themselves together and at a global level, there are currently few prospects for systemic reform (never mind revolution) led by a new, twenty-first century “red-green” Left.
Keywords: Britain; European Union; climate change; economic crisis; emissions trading; environmental crisis; social formation

Le principe de réciprocité chez Karl Polanyi, contribution à une définition de l'économie solidaire - Servet, Jean-Michel (Revue Tiers Monde, 2010)
English translation: Karl POLANYI has an indirect understanding of the societies that were part of the Third World in the fifties. From anthropologists he came out with the principle of reciprocity. He then opposed this principle of economic integration to both redistribution and market principles. Reciprocity can neither be viewed as a practice of primitive societies (as in evolutionist approaches) nor as a gift and counter-gift exchange. Reciprocity needs to be understood as a social whole and through a claimed mutual dependency. In this approach, reciprocity allows to set up the definition of the solidarity-based economy. Jean-Michel Servet, “ Le principe de réciprocité chez Karl Polanyi, contribution à une définition de l'économie solidaire ”, Revue Tiers Monde 2/2007 (n° 190) , p. 255-273
Keywords: reciprocity

Work After Globalization: Building Occupational Citizenship - Standing, Guy (Edward Elgar Publishing, 2010)
Per Google Books: This is a scholarly and erudite work. . . There is a wealth of detail, all illustrated with plenty of fascinating examples. . . It is impossible to give the full flavour of this thoughtful and stimulating book in even a long review, but it deserves to be
Keywords: business & economics - labor; business & economics - labour; embeddedness; industrial citizenship; political science / labor & industrial relations; political science / labour & industrial relations; social science / sociology / general

Is the Globalization Consensus Dead? - Wade, Robert (Antipode, 2010)
The development economist Dani Rodrik recently declared that “the globalization consensus is dead”. The claim has momentus implications, because this consensus has steered economic policy around the world for the past quarter century. It emanates from the heartland of neoclassical economics, and defines the central tasks of the Washington-based organizations which claim to speak for the world. This essay answers two main questions. First, is Rodrik's claim true, and by what measures of “consensus”? Second, to the extent that the consensus has substantially weakened, is the state returning to the heart of economic life, as Karl Polanyi might have predicted? The answers? First, the globalization consensus about desirable economic policy has weakened, though it is far from “dead”. Second, the western state is returning to the heart of economic life in response to the current global economic crisis, but will retreat soon after national economies recover—because unless the crisis becomes a second Great Depression, the norms of more free markets and more global economic integration will be politically challenged only at the margins. New rules of finance may be introduced, but with enough loopholes that by 2015 Wall Street and the City will operate in much the same way as in the recent pre-crisis past.
Keywords: Washington consensus; catch-up growth; financial crisis; globalization consensus; income distribution; pension funds; poverty

The Making of Karl Polanyi's Economic Sociology. (In Japanese. With English summary.) - Wakamori, Midori (History of Economic Thought, 2010)
The main purpose of this paper is to understand Polanyi's research project after The Great Transformation. This includes his developing ideas on economic history and theory of economic institutions after 1947, when he came to Columbia University in New York. This paper deals mainly with Polanyi's new agenda, namely "the place of the economy in society" in the intellectual context of post World War II United States of America.
Keywords: Marxist; Sraffian; economic anthropology; economic sociology; history of economic thought since 1925: socialist; history of economic thought: individuals; social and economic stratification

Social Economy and the fight against Social Exclusion: Preliminary remarks with reference to the Greek welfare state - Adam, Sofia (1st International Conference in Political Economy, 2010)
Recent academic discourse and European social policies highlight the (potential) effectiveness of social economy practices as a means to address social exclusion especially for the more disadvantaged social groups. Apart from terminological debates on the aforementioned troubled concepts, fundamental questions needs to be examined: To what extent social economy practices flourish as a result of policy shifts towards further commercialization of public social services or to what extent do they emerge from bottom up collective survival strategies? This paper attempts to address this question with reference to the political economy of the Greek welfare state.
Keywords: Greece; economic sociology; embeddness; political economy; social economy; substantive approach; welfare state

From Menger to Polanyi: The Institutional Way - Cangiani, Michele (Austrian Economics in Transition, 2010)
The crisis of the institutions of liberal capitalism dates back to the last decades of the nineteenth century. Economics was thenceforth forced to radically reconsider its achievements and even its basic presuppositions, to the extent that they were linked to a free-market and perfect-competition model.
Keywords: economic history; economic systems; economic theory; financial economics; history of economic thought; international economics; macroeconomics; mathematical methods; methodology; monetary economics; quantitative economics

Karl Polanyi: the limits of the market - Dale, Gareth (Key contemporary thinkers series, 2010)
Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi's ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation, but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancientand archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi's daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi's thinkingwill appeal to students and scholars across the social sciences,providing a refreshing perspective on the roots of our currenteconomic crisis.
Keywords: economics; philosophy

Polanyian meditations on economy and society: a review of 'Market society: the great transformation today' - Dale, Gareth (Dialectical anthropology, 2010)
Keywords: book review; cultural ethnography; economic anthropology; market economy; society

Au-dela de la dichotomie marche-institutions: L'institutionnalisme de Douglass North face au defi de Karl Polanyi. (With English summary.) - Didry, Claude; Vincensini, Caroline (Revue Francaise de Socio-economie, 2010)
On the basis of the "challenge" North (1977) identified in the works of Polanyi, we propose to outline the originality of North's institutionalism, especially in comparison with "new institutionalism" in economics as well as in sociology. Far from endorsing the dichotomy between market and non market dimensions of economic activities at the basis of the analyses of Williamson and Granovetter, North's definition of institutions as "rules of the game" allows him to conceive of institutions as the institutional foundations of the market and therefore as explanatory principles of historical dynamics.
Keywords: Austrian; current heterodox approaches: institutional; evolutionary; history of economic thought; history of economic thought since 1925; institutional

The Global Financial Crisis: Other issues to watch » TripleCrisis - Grabel, Irene (2010)
Keywords: G-20; Polanyi moment; austerity; global financial crisis

Concluding reflections on globalization(s) and labour in China and India: a Polanyian perspective - Harriss, John (Globalization and labour in China and India: impacts and responses., 2010)
Keywords: China; India; economics; globalization; labor; labour

Building the Human Economy Together - Hart, Keith; Laville, Jean-Louis; Cattani, Antonio (The Human Economy. A Citizen’s Guide, 2010)
KM: We want to bring to the attention of English readers some currents of economic theory and practice that have flourished in non-Anglophone countries over the last two decades, particularly in France, Brazil, Hispanic America and Scandinavia. To these we have added significant work by English-speaking authors that was sidelined during neoliberalism’s heyday and deserves to find a wider audience now. We have brought these strands of new thinking together under the umbrella concept of ‘the human economy’ which refers to an emphasis both on what people do for themselves and on the need to find ways forward that must involve all of humanity somehow.
Keywords: human economy; solidarity economy

The ordering of change: Polanyi, Schumpeter and the nature of the market mechanism - Harvey, Mark; Metcalfe, Stan (Markets, Rules and Institutions of Exchange, 2010)
Keywords: SCHUMPETER, Joseph Alois, 1883-1950; market mechanism

Polanyi in Brussels? Embeddedness and the Three Dimensions of European Economic Integration - Höpner, Martin; Schäfer, Armin (Max-Planck-Institut für Gesellschaftsforschung, 2010)
In a recent article, Caporaso and Tarrow have argued that the jurisprudence of the European Court of Justice (ECJ) is increasingly moving in a social policy direction that will ultimately put European politics on a “Polanyian” course. We take issue with their claim and distinguish three dimensions of European economic and social integration: market-correcting integration, market-enforcing integration, and the creation of a European area of nondiscrimination, the latter consisting of two subdimensions, namely nondiscrimination on the basis of characteristics such as gender, age, and ethnic origin, on the one hand, and nondiscriminatory transnational access to the social security systems of the member states, on the other. Increased heterogeneity among European varieties of capitalism perpetuates the different ranges and speeds of these integration dimensions. We conclude that the Polanyi-in-Brussels hypothesis is misleading. Politically enforced social integration has not made much progress in the last decades, while market-enforcing integration and European nondiscrimination policies have asymmetrically profited from “integration through law.” So far, the impact of European integration on political economy has been “Hayekian” rather than “Polanyian.” Jüngst haben Caporaso und Tarrow argumentiert, die Rechtsprechung des Europäischen Gerichtshofs (EuGH) weise zunehmend soziale Züge auf und führe dazu, dass die europäische Integration eine „Polanyische“ Richtung einnehme. Wir wenden uns gegen diese These und unterscheiden drei Dimensionen der europäischen Wirtschafts- und Sozialintegration: die marktkorrigierende Integration, die marktschaffende Integration und die Schaffung eines europäischen Antidiskriminierungsraums, wobei letztere aus zwei Subdimensionen besteht, nämlich der Nichtdiskriminierung aus Gründen wie denen des Alters, der ethnischen Zugehörigkeit und des Geschlechts einerseits, und der Durchsetzung eines diskriminierungsfreien transnationalen Zugangs zu den sozialen Sicherungssystemen der Mitgliedstaaten andererseits. Die gestiegene Heterogenität europäischer Spielarten des Kapitalismus perpetuiert die unterschiedlichen Reichweiten und Geschwindigkeiten der Integration in den drei Dimensionen. Wir kommen zu dem Ergebnis, dass die „Polanyi in Brüssel“-These unzutreffend ist. Während die politisch herbeigeführte, soziale Integration kaum Fortschritte macht, profitieren die marktschaffende Integration und die europäische Antidiskriminierungspolitik von der „Integration durch Recht“. Die europäische Integration trägt daher weit mehr „Hayeksche“ als „Polanyische“ Züge.
Keywords: Europe; Polanyi-in-Brussels hypothesis

Transformation als historischer Prozess: Karl Polanyi - Rebmann, Mara; Marmuth, Juliane (GRIN Verlag, 2010)
KM translate: Polanyi starts from the thesis that only the emergence of a liberal market economy with its "free play of the forces" led to that characteristic "separation" and self-sufficiency of the economy against society, which historically represents a novelty and bourgeois society of all others Distinguishes social information. With this thesis, the complex transformation of societies through the interaction with the economic order on the basis of Polanyi's work The Great Transformation will be descriptively explained and discussed. Here are his theses taken up and explained from his point of view.
Keywords: Great Transformation, The (Book)

Are markets everywhere? : Ludwig von Mises, Friedrich Hayek and Karl Polanyi - Rodigues, Joao (The University of Manchester, 2010)
Keywords: HAYEK, Friedrich A. von (Friedrich August), 1899-1992; MISES, Ludwig von

Movement, Countermovement, and Investment Rules - Schneiderman, David (Conference Papers -- Law & Society, 2010)
This paper examines the extent to which one manifestation of neoliberal transnational legality, represented by the investment rules regime, may be vulnerable to critical resistance in the post-recession environment. If the regime was experiencing a crisis of legitimacy before the global recession set in, it might now be portrayed as having broken down entirely. This paper argues, in contrast, that the regime has a constitution-like resiliency that is intended to adapt and last far beyond the present unsettled global scene. First, for many states in the global South, there is no possibility of a Polanyian countermovement without an influx of needed capital from sources such as international financial institutions or foreign investors. This has the effect of locking states further into the regime's web of disciplines. Second, international investment tribunals have been reflexive agents and have responded to legitimacy problems raised by state and social movement actors by adjusting their interpretation of investment treaty disciplines. It turns out that, as Foucault warned, everything is dangerous - states and social movements must move carefully as they proceed to navigate through the current conjuncture. ..PAT.-Unpublished Manuscript
Keywords: Global South; countermovement; global south; investment rules regime; investment tribunals; neoliberal transnational legality

Fair Trade and the Double Movement: The Promise and Contradictions of Improving Labor Standards in the Global South via Market Mechanisms - Shorette, Kristen (Journal of Workplace Rights, 2010)
I examine Fair Trade (FT) as a social movement that emerges as a regulative force in response to the rise of neoliberalism. I apply Polanyi's (1944, 1957) classic concepts of embeddedness and the double movement to understand the conflict that arises within a coherently motivated social movement. Using interview and participant observation data along with content analysis of FT organization mission statements, this research examines the role of conflict within the FT movement over how best to improve the well-being of producers in the global South. I discuss the different, conflicting ways in which FT participants think about improving labor conditions in the global South and the inherent conflict in using market mechanisms to counter market forces. I conclude that while participants share the values of human rights, equality, and environmentalism, realizing these goals through concrete market activities reveals the tension between the benefits of liberalizing and the benefits of regulating the production and sale of FT goods that may impede the continued growth of the movement.
Keywords: developing countries; double movement; embeddedness; fair trade; human rights; labor laws & legislation; labour laws & legislation; neoliberalism; production standards; social movements; unfair competition; workplace rights

Local Food: A Social Movement? - Starr, Amory (Cultural Studies/Critical Methodologies, 2010)
This article analyzes the development of “local food” institutions from a social movements perspective. Over the last decade, institutions that “shorten the links” between producer and consumer have developed through a diverse collaboration of many social sectors (farmers, agronomic experts, retailers, chefs, food writers, and several distinct consumer sectors). Some agronomists and rural sociologists critical of the globalization and industrialization of agriculture have recognized this development as heralding Polanyian “reembedding” of market exchanges in social relations. This article analyzes whether and how local food is a social movement, using new social movement theory as an analytic framework.
Keywords: community-based economics; local food; local foods; localism; organic food; organic foods; social change; social movements; social psychology

Fair Trade Banana Production in the Windward Islands: Local Survival and Global Resistance - Torgerson, Anna McLoughlin (Agriculture and Human Values, 2010)
Fair trade banana farming in the Windward Islands of the Caribbean has emerged since the late 1990s in response to a crisis. Rulings by the World Trade Organization ended a longstanding trade dispute between the US and the EU by eliminating a system of preferential access of Windward Island bananas to the UK market. What followed was a period of rapid decline in banana exports from these small islands and a widespread abandonment of banana cultivation. Those banana farmers who remain are now primarily fair trade producers. Fair trade banana production in the Windward Islands can thus be conceived as a survival strategy that farmers have developed in response to a particular instance of neoliberal globalization. The paper considers this response especially in the context of recent fieldwork on the island of St. Vincent. In light of contributions by several scholars who have drawn upon the work of Polanyi to understand both fair trade and resistance to neoliberalism, fair trade banana production in the Windward Islands appears significant not only as a local survival strategy, but also as part of a larger countermovement that resists neoliberal globalization.
Keywords: agriculture in international trade; economic development: agriculture; energy; environment; international trade organizations; micro analysis of farm firms, farm households, and farm input markets Q12; natural resources; other primary products; trade policy

Karl Polanyi, Athens and us: the contemporary significance of Polanyi's thought - Wjuniski, Bernardo Stuhlberger; Fernandez, Ramón G. (Revista de Economia Política, 2010)
Karl Polanyi is considered one of the most prominent social scientists of the 20th century. In his writings, an important concern was the relationship between the markets and the society (therefore, the state) as a whole; to discuss it, he introduced the concept of "embeddedness", fundamental for his study of the origins and consequences of the Industrial Revolution. An important part of his heritage is the study of the economic history of what he called "ancient societies," especially of Classical Greece. Polanyi used these studies to compare the ancient societies with his own times, in an effort to understand them all. This paper aims to relate Polanyi's work on the Athenian society with his studies about the modern times, showing that it is possible to draw lessons from Polanyi's thought on the relationship between the society, the state and the market that can help to design a political agenda for our days. In the first part, we present the most important aspects o the life and work of Polanyi, and in the second we discuss the most important aspects of his worldview. Then, in the third part, we study his view of the early Athenian economy; mainly, we focus on the coexistence of a kind of state planning and a market, showing how this understanding is crucial for the whole Polanyian legacy, with its emphasis in the comparison of different societies and times. We conclude by underlining the relevance of this interpretation advanced by Polanyi to understand the societies of our days, focusing on some proposals to extend his approach to deal with our contemporary problems.
Keywords: classical Greek economy; economic history; embeddedness

The Rise and Fall of the Market Economy - Zaman, Asad (Review of Islamic Economics, 2010)
The core economic functions of production and distribution of goods can be handled by many different methods. After the fall of communism, the market mechanism has become nearly universal. Conventional economic theories argue that this is natural, because it is the best and the most efficient method for organizing economic affairs in a society. This paper, based on the analysis of Polanyi (1944) and Klein (2008) argues that the opposite is true. Market mechanisms conflict with natural mechanisms for production and exchange in traditional societies. Unregulated markets cause tremendous damage, as can be witnessed today in terms of countless economic crises, wars, environmental destruction, as well as damage to social networks. Because of this damage, market societies can only be maintained by force, as well as disinformation. To resolve crises on myriad fronts caused by the unregulated market, it is the need of the hour to find viable alternatives.
Keywords: capitalist systems: performance and prospects; comparative analysis of economic systems; cultural economics: religion; other economic systems: performance and prospects

The Role of the State in Making a National Market: The Evolution of the Grain Market in China (1978-2000) - Zhou, Wubiao (China Agricultural Economic Review, 2010)
The paper aims to examine Karl Polanyi's view of market evolution in the context of the emergence of a national grain market in China's transition economy. The dataset used includes information about inter-provincial grain trade on China's grain market from November 1999 to October 2000. A priori blockmodelling method is used for hypothesis testing. This paper finds that a partially integrated national grain market had emerged at the beginning of the twenty-first century in China in spite of local protectionism. Additionally, the emergence of this market is found to be partly a result of the reform-oriented state's attempt to create national wholesale grain markets.
Keywords: agricultural policy; agriculture; agriculture: aggregate supply and demand analysis; collectives; communes; economic development: agriculture; energy; environment; food policy; natural resources; other primary products; prices

Managing Liberalization and Globalization in Rural China: Trends in Rural Labour Allocation, Income and Inequality - Dong, Xiao-Yuan; Bowles, Paul; Chang, Hongqin (Global Labour Journal, 2009)
China’s integration into the global economy, while rapid, has been managed as part of a wider liberalization process. The structural changes in the rural economy arising from these twin processes have led to widening intra-rural inequalities. To address these, the central leadership has, in Polanyian manner, moved to counter some of the adverse effects of liberalization and globalization. We discuss this dynamic as it has affected rural China. We analyze results from a national data set covering the period 1991-2006 to assess the extent to which the state has been successful in protecting society from the advance of market forces. We find positive outcomes in terms of real earnings growth and poverty reduction but negative outcomes in terms of the rise in open unemployment and in terms of increasing intra-rural income inequality, although this was noticeably more pronounced in the 1991-2000 period than in the 2000-2006 period when more active government redistributive mechanisms were in place.
Keywords: globalization; income inequality; labor studies; labour allocation; labour studies; liberalization; rural China

Globalization(s) and Labour in China and India: Introductory Reflections - Harriss, John (Global Labour Journal, 2009)
I find it helpful to view the events of the past twenty years or so in a Polanyian frame, and specifically to enquire as to the working out of the ‘double movement’ as the attempt has been made, in both China and India, albeit partially, to shift towards the self-regulating market.
Keywords: China; India; double movement; globalization; labor; labour

Performing economy differently: Exploring economic personhood and local economic diversity - McKay, Deirdre (The Australian Journal of Anthropology, 2009)
Many popular conceptions of economy now delimit what counts as the ‘real’ economy by capitalist enterprises, market transactions and wage labour. Anthropologists describe such ideas of economy as abstract, dis-embedded (Polanyi 1957a, b) or virtual (Carrier and Miller 1998), arguing that these conceptions are not adequate to the empirical realities of lived experience. Beyond anthropology, there is a growing literature that theorises the ways academic accounts have themselves brought a dis-embedded or virtual version of economy into being (Mitchell 2002, 2008; Callon 2005; Callon and Caliskan 2005; Latour 2005; Gibson-Graham 2006). Scholars advocating a performative approach argue that academic notions of economy are not simply descriptive of empirical realities, but actively shape those realities, giving form to the ways that a ‘real’ economy emerges from particular socio-cultural fields. In the context of applied development anthropology, a performative reading of economy offers a helpful platform for applied research directed towards diversifying local economic understandings and practices. This paper explores the implications of performing economy differently through reflections on an action research project undertaken in the Philippines. Here, a performative approach recreated economy as a space of decision that demands active, ethical choices (Gibson-Graham 2006) and supported relational, rather than individuated, models of economic personhood.
Keywords: action research; disembeddedness; economic anthropology; performative approach

Industrial Policy in the United States: A Neo-Polanyian Interpretation - Schrank, Andrew; Whitford, Josh (Politics & Society, 2009)
The conventional wisdom holds that U.S. political institutions are inhospitable to industrial policy. The authors call the conventional wisdom into question by making four claims: (1) the activities targeted by industrial policy are increasingly governed by decentralized production networks rather than markets or hierarchies, (2) "network failures" are therefore no less threatening to industrial dynamism than market or organizational failures, (3) the spatial and organizational decentralization of production have simultaneously increased the demand and broadened the support for American industrial policy, and (4) political decentralization is therefore likely to improve the functioning of industrial policies designed to combat network failures.
Keywords: United States; decentralization in government; economic activity; federalism; governance; industrial organization (economic theory); industrial policy; networks; production (economic theory)

L’« institution » selon Karl Polanyi. Fondements et mise en perspective contemporaine - Maucourant, Jérôme; Plociniczak, Sébastien (Tracés. Revue de Sciences humaines, 2009)
Depuis les années soixante-dix, certains économistes ont tenté de répondre aux difficultés de plus en plus nombreuses qu’ils rencontraient en réélaborant le concept d’institution. Cette tentative « néo-institutionnaliste » fut porteuse de malentendus. L’autonomisation progressive de l’économie comme savoir s’était, en effet, construite sur l’occultation délibérée de toutes sortes de fondements extra-économiques. La quête de tels fondements, dans l’intention d’asseoir scientifiquement la conna...
Keywords: MALTHUS, T. R.; RICARDO, David; institutionalist approach

Political Cycles, Political Institutions and Public Expenditure in India, 1980-2000 - Sáez, Lawrence; Sinha, Aseema (British Journal of Political Science, 2009)
In Western democracies it is held that parties and their positions affect how politicians choose to make public expenditure and investment. This article examines the public policy choices of politicians in India, a large well-established democracy with remarkable subnational variation. Public expenditure, from education and health to agriculture and irrigation, is analysed. Counterintuitive findings - that election timing and political factors play a strong role in the subnational states, and that party competition increases investment in education - are explained by highlighting the role economic and political uncertainty plays in politicians' choices. Building a 'Polanyi' argument enhanced by a supply-side mechanism highlights the importance of compensation and insurance and the imperatives of political stability for subnational politicians, who attempt to maximize re-election chances in an uncertain environment.
Keywords: India; budget - law and legislation; elections; government purchasing; government spending policy; policy sciences; public administration; public spending; representative government; tax and expenditure limitations

Polanyi in Brussels: Supranational Institutions and the Transnational Embedding of Markets - Caporaso, James A.; Tarrow, Sidney (International Organization, 2009)
AbstractMany have argued that the success of European integration is predicated on reinforcing market structures and some have gone further to state that the creation of a transnational market results in a decoupling of markets from their national political and social frameworks, thus threatening to unravel historical social bargains. Drawing on the work of Karl Polanyi and John Ruggie and using their insights regarding the social embedding of markets, we dissent from this view by examining how the European Court of Justice (ECJ) has handled a key sector of the emerging European market—labor mobility. We argue that rather than disembedding markets, decisions of the ECJ—just as Polanyi and Ruggie would have predicted—activate new social and political arrangements. We find evidence for the development of a new legal and political structure, largely inspired by the Court but also imbricated in European Union legislation, at the regional level.
Keywords: European Court of Justice; embedded markets

No hay ganancia en la milpa: the agrarian question, food sovereignty, and the on-farm conservation of agrobiodiversity in the Guatemalan highlands - Isakson, S. Ryan (Journal of Peasant Studies, 2009)
Although they receive little recognition for their contribution, peasant farmers in the global South play a fundamental role in securing the long-term global food supply. Via their self-sufficient agricultural practices, they cultivate the crop genetic diversity that enables food crops to adapt to changing environmental conditions. In this paper I draw upon empirical data from the Guatemalan center of agricultural biodiversity to investigate the concern that market expansion will displace peasant agriculture and undermine a cornerstone of the global food supply. I find that even though peasants' livelihoods involve multiple forms of market provisioning, they also engage in a Polanyian 'double movement' to protect their subsistence-oriented agricultural practices from the potentially deleterious effects of markets. I also investigate the so-called 'agrarian question' about the effects of market expansion on the viability of peasant agriculture, finding that although new forms of market provisioning are likely exacerbating rural inequality, the income from market activities actually enables rural Guatemalans to reproduce the conditions for peasant agriculture. Ultimately, I observe that the conservation of agricultural biodiversity and, consequently, global food security are contingent upon the 'food sovereignty' of peasant farmers.
Keywords: Guatemala; agricultural biodiversity; agrobiodiversity; food crops; food industry; food sovereignty; food supply; globalization - social aspects; peasant differentiation; peasant livelihoods; peasant studies; peasants; right to food

‘Habitation vs. Improvement’ and a Polanyian Perspective on Bank Bail-outs - Watson, Matthew (Politics, 2009)
The bank bail-outs enacted by the Brown government in the wake of the 2007 credit crunch have had a distinctive political character. Despite the government's pronouncements on the merits of swift and decisive interventions, I argue that this does not amount to a return to the interventionist regulatory form associated with post-war British welfare capitalism. The Polanyian distinction between ‘habitation’ and ‘improvement’ is used to show that the bail-outs were designed by contrast to defend the underlying deregulatory logic of the existing financial regime. The only real change of note was to uncover forcibly the often hidden influence of the state in the making and regulation of an ostensibly market-led neoliberalism and the creation instead of a much more overt state-led neoliberalism. Habitation strategies were incorporated into a structure of financial deregulation, making it more rather than less difficult to rejuvenate state capacities consistent with enhancing societal welfare. The bank bail-outs offered short-term salvation for distressed firms within the financial sector without providing the state with socialised control over the conduct of banking business in order to promote forms of social policy consistent with post-war British welfare capitalism.
Keywords: BROWN, Gordon, 1951-; Great Britain; Great Britain - politics & government - 2007-; bailouts (finance); banking industry; habitation

Industrial Relations Today: Reining in Flexibility - Streeck, Wolfgang (Economics, Management & Financial Markets, 2009)
The paper was presented as a keynote lecture at the 10th anniversary of the Amsterdam Institute for Advanced Labour Studies (AIAS) in April 2008. It surveys the trajectory of scholarly work on labor after 1945, from its initial emphasis on rights of industrial and social citizenship to its present preoccupation with "flexibility" and "flexicurity." It recalls the dissolution of the "Fordist" compromise in the 1970s and the subsequent gradual expansion of markets as the dominant mechanism for the allocation of life chances and the governance of society. Marketization encountered surprisingly little resistance, in real life as in the evolving conceptual apparatus of scholarly work. Liberalization proceeded and continues to proceed regardless of the social dislocations it causes, on a scale wholly unimaginable and indeed unacceptable under the postwar settlement. The paper ends with speculation on what if at all might be the forces today that could trigger a Polanyian counter-movement to the progress of capitalist social and economic relations. In particular it discusses whether demographic change, in terms of both a declining birth rate and increasing life expectancy, might bring about a new wave of market-containing social policy.
Keywords: corporate growth; countermovement; industrial relations; international economic relations; labor laws & legislation; labour laws & legislation; socioeconomics; welfare economics

The Athenian Economy in Light of the Welfare State: Karl Polanyi's Work in Perspective - Wjuniski, Bernardo Stuhlberger; Fernández, Ramón García (Journal of Economic Issues (Taylor & Francis Ltd), 2009)
Karl Polanyi considered that the relationship between the markets and their societies was a central feature of any social order. He studied what he called "ancient societies," to compare them with his own times, in an effort to understand that subject This paper aims to show, following Polanyi's work on Classical Greece, that it is possible to make a clear analogy between the Athenian state and economy with the modern Welfare State. First, we present Polanyi's study of the early Athenian economy, focusing on the coexistence of a kind of state economic planning and a market Second, we show how this relates to Polanyi's emphasis in the comparison of different societies and times. Third, we characterize the contemporary Welfare State to make an analogy between these two forms of economic organization. We conclude by underlining the relevance of this analogy in understanding the societies of today.
Keywords: Athenian supremacy, Greece, 479-431 B.C.; Athens (Greece) - history; Greece; Polis (the Greek word); classical Greek economy; economic anthropology; economic policy; embeddedness; equity; history of economics - to 1800; imperialism; markets - social aspects; money; social order; welfare state

Challenging Neoliberalism in Latin America - Silva, Eduardo (Cambridge University Press, 2009)
At the turn of the twentieth century, a concatenation of diverse social movements arose unexpectedly in Latin America, culminating in massive anti-free market demonstrations. These events ushered in governments in Argentina, Bolivia, Ecuador, and Venezuela that advocated socialization and planning, challenging the consensus over neoliberal hegemony and the weakness of movements to oppose it. Eduardo Silva offers the first comprehensive comparative account of these extraordinary events, arguing that the shift was influenced by favorable political associational space, a reformist orientation to demands, economic crisis, and mechanisms that facilitated horizontal linkages among a wide variety of social movement organizations. His analysis applies Karl Polanyi's theory of the double movement of market society to these events, predicting the dawning of an era more supportive of government intervention in the economy and society.
Keywords: Latin America; double movement; market society; neoliberalism; political science / comparative politics; political science / world / general

Relaxing the shackles: The invisible pendulum - Stewart, Frances (Journal of International Development, 2009)
This note draws on Polanyi's pendulum in economic policies presented in the the Great Transformation—with swings back and forth between strong restrictions on the market and market domination, each resulting from excesses of the dominant model. The swing he described, when he wrote, was a reaction to the consequences of market domination, notably the Great Depression, and ushered in Keynesianism and the welfare state. In the late twentieth century, there was a swing back towards the market as a result of the inefficiencies associated with this interventionism. This note argues that the pendulum is swinging again, following the political and economic consequences of this market domination. Again market forces are being restrained by regulation, state takeovers, social protection and Keynesian macro-policies, while environmental factors have added to pressures for interventionist policies. Copyright © 2009 John Wiley & Sons, Ltd.
Keywords: Polanyi; interventionism; markets; pendulum

Headlong into the Polanyian Dilemma: The Impact of Middle-Class Moral Panic on the British Government's Response to the Sub-prime Crisis - Watson, Matthew (The British Journal of Politics & International Relations, 2009)
This article focuses on the discursive construction in Britain of a middle-class moral panic occasioned by the distress caused to self-styled ‘responsible mortgage borrowers’ by falling house prices. In the context of the move towards asset-based welfare the sub-prime crisis manifested itself most obviously in the popular consciousness as a threat to housing market wealth. The Labour government used the political space opened up by the narrative of middle-class moral panic in order to protect banks' balance sheets from the consequences of their own failed investments in mortgage-backed securities. The ensuing arrangements immunised banks from the implications of market self-regulation in the first-phase response to the sub-prime crisis while simultaneously allowing them to continue to impose the experience of market self-regulation on their customers. An increasingly asymmetric approach to banking regulation has arisen analogous to that which Karl Polanyi associated with the contradictory co-existence of market and non-market forms.
Keywords: market self-regulation; moral panic; protective re-embedding of finance; sub-prime crisis

Sociopolitical sustainability -- the pendulum at globalisation's frontiers - Boutilier, Robert (Keeping Good Companies (14447614), 2009)
The article explores the potential roots of the unsustainability of the intersectoral dynamic. Political economist Karl Polanyi stresses that excesses of globalisation led to the unsustainability among the private, public and civic sectors. The backlash against globalisation and the private sector has its roots in the imbalance among the three sectors. The impact of the absence of regulatory regimes on globalisation's frontiers on the private sector is discussed, as well the process by which companies help stabilise their partners.
Keywords: economic sectors; globalization; international relations; private sector; sustainability

Drivers of development over the next 30 years: Some speculations - Harriss, John (Journal of International Development, 2009)
Class relationships are amongst the fundamental drivers of development, and it is argued here that over the next 30 years a major influence on the pattern and path of development will be exerted by the rise of the ‘new middle classes’ of Asia. At the same time, in the context of the blocked transition of the present, it seems unlikely that those who are marginalised and excluded will be able adequately to organise resistance, much less change structures of power, but poverty will be managed through welfare interventions like India's National Rural Employment Guarantee Scheme. Copyright © 2009 John Wiley & Sons, Ltd.
Keywords: Asia; India; double movement; eastern hemisphere; economic development; middle class; new middle class; social change; social classes; social structure

Development's invisible hands: Introduction to special issue - Thomas, Alan; Sumner, Andy; Tribe, Michael (Journal of International Development, 2009)
This Special Issue comes from the Development Studies Association (DSA) 30th Anniversary conference in 2008. The theme was ‘Development's Invisible Hands’, focusing on the forces likely to influence global change and re-shape development agendas over the next 30 years. The first section comprises brief invited thinkpieces mainly from DSA past presidents. Interestingly, while some focus on Adam Smith's original ‘invisible hand’ analogy and others discuss a range of non-market issues, several invoke Karl Polanyi on the limitations of market society. The second and third sections consist, respectively, of ‘synthesis’ papers on parallel panel themes and papers developed from the best panel presentations. The papers demonstrate the range of issues raised by questioning the future of development and development studies—while the limitations of future gazing are pointed up by the unexpected challenge to current development models presented since the conference by the global financial crisis. Copyright © 2009 John Wiley & Sons, Ltd.
Keywords: Development Studies Association; POLANYI, Karl, 1886-1964; SMITH, Adam, 1723-1790 - political & social views; development economics; development studies; economic development; futures; invisible hand; mathematical models of economics

Polanyi in the United States: Peter Drucker, Karl Polanyi, and the Midcentury Critique of Economic Society - Immerwahr, Daniel (Journal of the History of Ideas, 2009)
Abstract:This essay explores the connections between Karl Polanyi's The Great Transformation (1944) and midcentury social theory in the United States. It argues that Polanyi shared with his U.S. colleagues a critique of market society. In particular, Polanyi's work bears close resemblance to the early thought of management theorist Peter Drucker, with whom Polanyi lived while writing his celebrated book. By comparing Polanyi to his contemporaries who advanced similar ideas, one gains a clearer sense of the particularities of Polanyi's project and of the fairly widespread movement in the United States to reject economistic thinking.
Keywords: DRUCKER, Peter; history; social theory

The unknown Karl Polanyi - Cangiani, Michele (International Review of Sociology, 2009)
Keywords: biography; essence of fascism

Subaltern strategies and autonomous community building: a critical analysis of the network organization of sustainable agriculture initiatives in Andhra Pradesh - Kumbamu, Ashok (Community Development Journal, 2009)
This paper examines and analyses the organization and functioning of subaltern peasant sanghams (grassroot associations of the poor) and their place-based as well as network-based strategies in building autonomous local communities that challenge the consequences of neoliberal globalization in general and the commodification of agriculture and food in particular. The major objective of the counter-hegemonic organizational strategies is to build self-protective and subsistence communities, to mend the metabolic rift between nature and society, and to re-reconstruct social fabric within communities. The question remains is whether place-based autonomous communities can sustain in an increasingly globalizing world. To better understand these political dynamics, I use Karl Polanyi's concept of ‘double movement’ and examine the making of a double movement in Indian agriculture and its socio-political and ecological implications for the Indian peasantry. I use the organizational strategies and activities of the Deccan Development Society, a prominent non-governmental organization that has been working in Medak district for more than two decades, as an illustrative case study.
Keywords: community development; community organizing; double movement; metabolic rift; peasant studies

Institutionalization of Trust as Response to Globalization: The Case of Consumer Cooperatives in South Korea - Choi, Hyejin (Transition Studies Review, 2009)
This paper explores an explanation which elaborates how individuals effectively enact and sustain trust in the sphere of social economy and the capability. I discuss how value employed by actors and the strategies and power relation in the socio-economic value sphere and focus on the function of ‘trust’ as the key mechanism of the interaction. This paper examine South Korean consumer cooperative Hansalim as a case of social economy which successfully institutionalize their system in competitive economic market arena.
Keywords: disembeddedness; double movement; embeddedness; food trust; governance; public administration; risk socety; social economy

Le differenti ibridazioni di risorse nelle imprese sociali europee - Gardin, Laurent (The various types of resources mobilised by European social enterprises., 2009)
The objective of this paper is to analyse, on the basis of the substantive definition of the economy (elaborated in the footsteps of Polanyi), the various types of resources mobilised by European social enterprises. European social enterprises use a complex mix of resources based on four types of economic relations: the market, redistribution, the socio-politically embedded market, and the reciprocity. A European typology of Work Integration Social Enterprise (WISEs) is put forward, in order to understand these enterprises' dynamic across national borders. (English)
Keywords: Europe; business enterprises; distribution; economic theory; markets; reciprocity (commerce); social enterprise; socioeconomics

Hititlerde Devlet Gelirleri, Depolama ve Yeniden Dağıtım - Reyhan, Esma (The Revenues of Hittite State, Storage and Redistribution., 2009)
The economic system of Hittite Kingdom shows parallelism with a description of Polanyi about redistribution system, as "Tributes firstly flow to the capital of an emperor, and then from there to the provinces". This system completely depended upon the social hierarchy. Tributes firstly flow to the capital of an emperor, and then from there to the provinces. This essay examines the tax collection system of the Hittite Empire, especially the aspect of redistribution of the taxes from the capital to the provinces. As the taxes flow firstly into Hattuşa and later to the provinces, we are trying to draw the conceptional frame of the "redistribution in centralized system". This will also make it possible to consider the management structure of the Hittite Empire as well. (English)
Keywords: Hattuşa/Boğazköy; Hattuša/Boğazköy; Hitit Devleti; Hitit Ekonomik Sistemi; Hitit Kanunları; Hitit Ritüel Metinleri; Hitit Çiviyazılı Tabletler; Hittite Cuneiform Tablets; Hittite Economic System; Hittite Laws; Hittite Ritual Texts; Hittite State; Hittites; capital cities; dominance (psychology); kings & rulers; storage; tax administration & procedure; tax collection; tax penalties; warehouses

The Extended Case Method: Four Countries, Four Decades, Four Great Transformations, and One Theoretical Tradition - Burawoy, Michael (University of California Press, 2009)
In this remarkable collection of essays, Michael Burawoy develops the extended case method by connecting his own experiences among workers of the world to the great transformations of the twentieth century—the rise and fall of the Soviet Union and its satellites, the reconstruction of U.S. capitalism, and the African transition to post-colonialism in Zambia. Burawoy's odyssey began in 1968 in the Zambian copper mines and proceeded to Chicago's South Side, where he worked as a machine operator and enjoyed a unique perspective on the stability of advanced capitalism. In the 1980s, this perspective was deepened by contrast with his work in diverse Hungarian factories. Surprised by the collapse of socialism in Hungary in 1989, he journeyed in 1991 to the Soviet Union, which by the end of the year had unexpectedly dissolved. He then spent the next decade studying how the working class survived the catastrophic collapse of the Soviet economy. These essays, presented with a perspective that has benefited from time and rich experience, offer ethnographers a theory and a method for developing novel understandings of epochal change.
Keywords: social science; sociology

Market and Society: The Great Transformation Today - Hann, Chris; Hart, Keith (Cambridge University Press, 2009)
Karl Polanyi's 1944 book, The Great Transformation, offered a radical critique of how the market system has affected society and humanity since the industrial revolution. This volume brings together contributions from distinguished scholars in economic anthropology, sociology and political economy to consider Polanyi's theories in the light of circumstances today, when the relationship between market and society has again become a focus of intense political and scientific debate. It demonstrates the relevance of Polanyi's ideas to various theoretical traditions in the social sciences and provides perspectives on topics such as money, risk, work and the family. The case studies present materials from around the world, including Britain, China, India, Jamaica and Nigeria. Like Polanyi's original work, the critical engagement of these essays will be of interest to a wide readership.
Keywords: anthropology - general; business & economics; economic history; economic theory; sociology - general

Karl Polanyi's Great Transformation and Development Politics - Deutschmann, Moritz (Grin Verlag, 2009)
English, abstract: Attempts to understand the transformation processes in the developing world have often led to a closer examination of Europe′s and America′s own history, as many theories of development suggest a specific interpretation of these histories: Modernization theorists, for example, see Europe′s and America′s history mainly as a straightforward progression towards welfare and democracy, eclipsing the aspects that do not fit into this picture, like the World Wars or the American Civil War. Therefore, although Karl Polanyi′s "The Great Transformation" treats mainly historical events in Europe, it can at the same time be an important contribution to our understanding of the economic and social transformations in the developing world. In this essay, I will first try to make clear, what assumptions underlie Polanyi′s argument and what he means by the notion of "market society." I will proceed in three steps: first, I will explore the different roles that the economy, according to Polanyi, plays in capitalist and pre-capitalist societies; I will look then at the historical processes that led to the rise of a "market society." Finally, I will discuss the political reactions to these processes which can be characterized, in Polanyi′s view, by a "double movement." As Polanyi is one of the most important critics of economic liberalism, it is helpful to compare his account of the "Great Transformation" to a second, even more influential anti-liberal perspective, Marxism. Apart from some similarities, the fundamental difference seems to be that Polanyi does not give a positive account of modernization. This leads to the question, how Polanyi′s theori
Keywords: Great Transformation, The (Book); development; double movement; market society; modernization

Exchange networks and free shops in Berlin: gifts and commodities in ‘alternative’ consumption experiences - Sabaté Muriel, Irene (Etnográfica. Revista do Centro em Rede de Investigação em Antropologia, 2009)
This paper is based on an ethnography of ‘alternative’ consumption practices in the inner city of the former East Berlin. Non-monetary exchange networks (Tauschringe) and ‘free shops’ (Umsonstläden) have been examined. In Umsonstläden, the contemporary ideology of the ‘pure’ gift (Parry 1986; Carrier 1995) is at play: objects are freely given and totally alienated from their owners. In turn, Tauschringe sometimes induce gift-giving practices entailing mutual obligation, as a result of frequent exchanges which bring participants socially closer. The ethnographic material I present challenges the suitability of a conceptual gift / commodity divide to examine these experiences, provided that different modalities of gift-giving are articulated with commoditisation trends. Considering this complexity, I propose a re-examination of the role of the gift in ‘alternative’ consumption practices promoted by social movements in Berlin., O artigo baseia-se numa etnografia de práticas de consumo “alternativas” nos bairros centrais da antiga Berlim-Leste. São aqui analisadas as redes de intercâmbio não monetário (Tauschringe) e as “lojas gratuitas” (Umsonstläden). As Umsonstläden são enquadradas pela ideologia contemporânea da dádiva “pura” (Parry 1986; Carrier 1995): os objectos são dados gratuitamente e totalmente alienados dos seus possuidores. Já as Tauschringe, por seu lado, induzem por vezes práticas de oferta que implicam obrigações mútuas, como consequência de trocas frequentes que aproximam socialmente os participantes. O material etnográfico apresentado põe em causa a adequação do binómio dádiva / mercadoria à análise dessas experiências, na medida em que diferentes modalidades de oferta se conjugam com tendências para a mercadorização. Face a essa complexidade, o artigo propõe uma revisão da análise do papel da dádiva em práticas de consumo “alternativas” promovidas pelos movimentos sociais em Berlim.
Keywords: Berlin; consumption; economic anthropology; embeddedness; exchange networks; fallacy of the market; free shops; gifts/commodities; social economy; social movements

Globalization and Backlash: Polanyi's Revenge? - Burgoon, Brian (Review of International Political Economy, 2009)
This paper investigates political-economic backlash to economic globalization in industrialized polities. It analyzes data on the content of party platforms to develop measures of party support for, or opposition to, political-economic closure, anti-democratic nationalism, and xenophobia in all party platforms of 23 Organization for Economic Cooperation and Development countries for all national elections between 1960 and 2003. These allow broader judgments of trends in autarky and autarchy than focusing on electoral success of particular extreme-right parties. Based on these measures, the paper quantitatively analyzes how international trade and capital openness and flows, and immigration flows, all influence the embrace or rejection of political-economic backlash among parties. The main explanatory finding is that immigration and capital flows and openness tend to increase marginally such backlash when national welfare compensation is very modest, but to reduce it when national compensation is generous, cushioning citizens from globalization's economic risks. This finding provides evidence that the current wave of globalization only marginally resembles the dark politics ending its nineteenth-century predecessor, and that welfare protection may help make the difference between political-economic backlash and liberalism in contemporary globalization.
Keywords: elections; international business; international economic order; international factor movements; legislatures; lobbying; political processes; rent-seeking; voting

Paper assets, real debts: An ecological‐economic exploration of the global economic crisis - Kallis, Giorgos; Martinez‐Alier, Joan; Norgaard, Richard B. (Critical perspectives on international business, 2009)
Purpose – This paper sets out to investigate the potential contribution of the inter‐disciplinary field of ecological economics to the explanation of the current economic crisis. The root of the crisis is the growing disjuncture between the real economy of production and the paper economy of finance. Design/methodology/approach – The authors trace the epistemological origins of this disjuncture to the myths of economism – a mix of academic, popular and political beliefs that served to explain, rationalise and perpetuate the current economic system. Findings – The authors recommend ending with economism and developing new collective and discursive processes for understanding and engaging with ecological‐economic systems. Originality/value – The authors embrace the notion of sustainable de‐growth: an equitable and democratic transition to a smaller economy with less production and consumption.
Keywords: commodification; commodification of nature

An Introduction to Destructive Coordination - Vahabi, Mehrdad (American Journal of Economics and Sociology, 2009)
Polanyi (1944, [1957]1968) has distinguished three “patterns of social integration,” namely, “reciprocity,”“redistribution,” and “exchange.” This triad has provided the starting point for most subsequent discussion. Our purpose is to introduce a further type of coordination, the “destructive mode of coordination.” This mode achieves coordination by intimidation, threat, and the use of non-institutionalized coercive means. Resources and human efforts are allocated in order to appropriate what other people produce. Two simple examples provide an introductory illustration: traffic circles (roundabouts) and prisons. Appropriation through pirating provides a further example of destructive coordination. More specifically, biopiracy (blood patenting) is discussed in order to clarify the relationship between destructive coordination and the institutionalization of property rights. Finally, we focus on the role of destructive coordination as a transitional mechanism that is supported by the institutional vacuum, ultimately yielding to other modes of coordination.
Keywords: appropriation; destructive mode of coordination; social integration

Karl Polanyi in Budapest: On his Political and Intellectual Formation - Dale, Gareth (European Journal of Sociology / Archives Européennes de Sociologie, 2009)
AbstractA major thinker and inspiring teacher, Karl Polanyi's contributions have long been influential in a variety of disciplines, notably economic sociology and economic history. Two of his innovations, substantivist economic anthropology and the “double movement thesis,” are recognized as seminal. All of the works for which he is known, however, were written late in life, when in exile, and very little is known of his Hungarian writings, virtually none of which had, until now, been translated. Despite his fame, the biographical literature on Polanyi remains modest: some studies provide invaluable insights, yet all are brief. This article attempts to make some headway in remedying these lacunae. It sketches the contours of that extraordinary historical-geographical conjuncture in which he was formed, and explores his intellectual and political engagements in the Galilei Circle and the Radical Bourgeois Party. It seeks in particular to elucidate the complex roles played by questions of nation, ethnicity and class in the life of the young Karl Polanyi.
Keywords: Hungary; Jewish assimilation; biography; liberal radicalism

The Social Economics of Neoliberal Globalization - Stanfield, James Ronald; Carroll, Michael C. (Forum for Social Economics, 2009)
The recent period of intensive and extensive development of global economic integration, or globalization, has reached a crossroads. The regime of the neoliberal Great Capitalist Restoration is not sustainable and fundamental governance changes must be made. This paper adds perspective to the choices that must be made at this critical juncture of the global social economy by applying the master concepts of Schumpeter's Creative Destruction and Polanyi's Protective Response.
Keywords: capitalist systems: political economy; global social economy; international economic order; protective response; social economy

Economics, Anthropological Models and the Ancient Near East - Warburton, David A. (Anthropology of the Middle East, 2009)
This article discusses the evidence of markets in the Ancient Near East. The major points are (1) the shortcomings of the misguided application of the Polanyi model and (2) the ensuing implications of the failure to integrate economic history into modern economic theory. The analysis concentrates on Ancient Egypt, as it presents the most significant problem for economic history and theoretical modelling. Detailed criticism of the means by which the Polanyi model is upheld is coordinated with an argument in favour of recognising the importance of markets. The argument is that these markets are relevant both to long-term economic history and to modern economic theory – and that this must lead to a new debate about ancient and modern economies.
Keywords: Egypt; Middle East; ancient civilization; anthropology; economic history; economic theory; economics; markets; neo-classical synthesis; technology

Why Karl Polanyi Still Matters - Bollier, David (On the Commons, 2009)
It's a ripe moment to dust off "The Great Transformation" and its anthropological critique of "self-regulating markets."
Keywords: commons

Precarious Work, Insecure Workers: Employment Relations in Transition - Kalleberg, Arne L. (American Sociological Review, 2009)
The growth of precarious work since the 1970s has emerged as a core contemporary concern within politics, in the media, and among researchers. Uncertain and unpredictable work contrasts with the relative security that characterized the three decades following World War II. Precarious work constitutes a global challenge that has a wide range of consequences cutting across many areas of concern to sociologists. Hence, it is increasingly important to understand the new workplace arrangements that generate precarious work and worker insecurity. A focus on employment relations forms the foundation of theories of the institutions and structures that generate precarious work and the cultural and individual factors that influence people's responses to uncertainty. Sociologists are well-positioned to explain, offer insight, and provide input into public policy about such changes and the state of contemporary employment relations.
Keywords: precarious work; precarity

Embeddedness of Social and Economic Relations in Systemic Transformation. Long-Term Evidence From the Post-Communist Transition in Poland, 1988-2003 - Wilk, Katarzyna (Polish Sociological Review, 2009)
This paper intervenes in the Granovetter-Polanyi debate by reassessing the level of embeddedness of social and economic relations under conditions of systemic transition. Using panel data collected in Poland, this analysis examines this relationship for three distinct periods of transition: initial (1988-1993), advanced (1993-1998), and post-transitional (1998-2003). This paper shows that during transition from communism to capitalism economic relations tended to disembed from social relations, but this relationship remained significant; friendship ties were conductive to an individual upward mobility, economic well-being and entrepreneurial activity. In contrast to Polanyi's argument, however, entrepreneurship—the most marketable area of individual advancement—is found to exhibit the highest degree of social-economic embeddedness. These results do not directly support either Polanyi's or Granovetter's arguments, however they do accord with a neo-Polanyian argument, as advanced in this paper.
Keywords: (dis)embeddedness; Poland; capitalism; disembeddedness; embeddedness; entrepreneurship; friendship ties; political doctrines; practical politics; social classes; social networks; social status; socioeconomics; status attainment

Towards a Green Republicanism: Constitutionalism, Political Economy, and the Green State - Barry, John (The Good Society, 2009)
In lieu of an abstract, here is a brief excerpt of the content: Towards a Green Republicanism: Constitutionalism, Political Economy, and the Green State John Barry (bio) The republic is threatened—who will stand by the republic? Introduction The range of threats to modern society ranging from growing environmental stresses (water shortages, deforestation, soil erosion to climate change), food and energy insecurity, peak oil, rising poverty and inequalities within and between societies, increasing passivity of citizens within democracies and the inexorable rise of corporate power within and over the democratic state can be summed up as facets of 'unsustainability' or 'unsustainable development.' Just as it is commonplace to declare that the 21st century will be China's century, equally the politics of the 21st century are and will be the politics of sustain-ability. Taking it as given that the transition to sustainability will be the dominant challenge and opportunity facing all societies in the coming decades ahead, this article looks at two traditions of political thought—namely green political theory and civic republicanism—and seeks to conjoin them to outline a new political approach—'green republicanism'—which may respond and rise to this challenge. It needs to be pointed out from the outset that what is discussed below is 'green politics' and not 'environmentalism,' which is narrowly concerned with environmental preservation, species conservation or combating climate change. In broad terms green politics aims at 'sustainable development' which, inter alia, deals with securing basic human rights, lowering socio-economic inequalities, eradicating environmental injustices (within nation-states and globally as well as intergenerationally) and ensuring the demands of the human economy do not outstrip the regenerative capacities of the eco-systems upon which that economy depends. Sustainable development therefore is a radical proposal, indicating not simply the 'ecologising' or 'greening' of the current political and economic order. Such reformist proposals may be viewed as interim staging posts such as those represented by 'ecological modernisation' and discourses of 'natural capitalism,' but suggest the transformation to a different distinctly 'green' or 'sustainable' political order.1 While the metabolism between the human economy and its ecological systems is the most pressing and significant [End Page 3] dimension of sustainable development, questions of political economy and the economic order are always already present in any green analysis (whether explicit or not). In the same way that I take it as given that a sustainable society is one that is a post-carbon society (in terms of energy production and consumption), the green republican perspective offered here is also one which sees such a society as post-liberal, though not anti-liberal. Green politics can be viewed as 'post' not 'anti-liberal' in Robyn Eckersley's terms, and this can be seen to settle around the centrality of separating free market capitalism as the dominant organization of the economy, from liberalism (representative democratic governance, citizen freedoms, equality of citizens, etc.) in the creation of a sustainable society.2 In short, a green republicanism is one which asks the question 'How do we maintain and sustain liberty in a post-liberal political, post-capitalist economic and post-carbon, sustainable order?' In that context it is important to look at what are the political and institutional dynamics within, between and below the nation-state of this transformation away from current unsustainable development paths. If we are to live in a sustainable/green political order different than the current liberal democratic one based on the capitalist free market, what are the types of legal, constitutional and institutional innovations we might expect to see in a greening state or in a fully fledged 'green state?' Thus, while this article is critical of reformist ecological modernisation and strategies that focus on securing (often through technological innovation) the ecological conditions for the political economy of expansionist fossil-fuelled capitalism, it is also critical of radical green proposals (mostly anarchistic in character) which argue for the eradication or transcendence of the nation-state as a necessary condition of achieving sustainable development. Thus, the position outlined here is firmly within that school of green political thought which is concerned about the evolution and emergence of green states and pragmatic/strategic considerations about the 'greening' of existing liberal democratic states. Green Constitutionalism Given that constitutional provisions...
Keywords: embeddedness; green republicanism; political economy

Informal Politics, Formalised Law and the ‘Social Deficit’ of European Integration: Reflections after the Judgments of the ECJ in Viking and Laval - Joerges, Christian; Rödl, Florian (European Law Journal, 2009)
The judgments of the European Court of Justice (ECJ) of December 2008 in Viking and Laval on the compatibility of national collective labour law with European prerogatives have caused quite a heated critical debate. This article seeks to put this debate in constitutional perspectives. In its first part, it reconstructs in legal categories what Fritz W. Scharpf has characterised as a decoupling of economic integration from the various welfare traditions of the Member States. European constitutionalism, it is submitted, is bound to respond to this problématique. The second part develops a perspective within which such a response can be found. That perspective is a supranational European conflict of laws which seeks to realise what the draft Constitutional Treaty had called the ‘motto of the union’: unitas in pluralitate. Within that framework, the third part analyses two seemingly contradictory trends, namely, first, albeit very briefly, the turn to ‘soft’ modes of governance in the realm of social policy and then, in much greater detail, the ECJ's ‘hard’ interpretations of the supremacy of European freedoms and its strict interpretation of pertinent secondary legislation. The conflict-of-laws approach would suggest a greater respect for national autonomy, in particular, in view of the limited EU competences in the field of labour law.
Keywords: BLOCK, Fred; European Union; European constitutionalism; economic law; labour law; social embeddedness

Who is right about the modern economy: Polanyi, Zelizer, or both? - Steiner, Philippe (Theory and Society, 2009)
Zelizer’s work may be read as an attack on the central Polanyian thesis: that the market system threatens social life by the undue prominence it lends the economy in the organization of modern society. The recent publication of Viviana Zelizer’s The Purchase of Intimacy (2005a) is therefore an excellent opportunity to review the general trend of her work Zelizer 1979, 1985, 1994, and contrast her leading ideas to the central thesis that gives Polanyi’s work its particular flavor: the danger encapsulated in the use of modern money and the functioning of the market system.
Keywords: ZELIZER, Viviana; market system; money

Beyond Social Democracy? - Gare, Arran (International Journal of Inclusive Democracy, 2009)
Towards an Inclusive Democracy, it is argued, offers a powerful new interpretation of the history and destructive dynamics of the market and provides an inspiring new vision of the future in place of both neo-liberalism and existing forms of socialism. It is shown how this work synthesizes and develops Karl Polanyi's characterization of the relationship between society and the market and Cornelius Castoriadis' philosophy of autonomy. A central component of Fotopoulos' argument is that social democracy can provide no answer to neo-liberalism, so the only viable alternative to neo-liberalism is the form of inclusive democracy he elaborates. Reviewing Castoriadis' concept of autonomy, it is argued that while Fotopoulos is certainly correct given the present deformed nature of social democracy, there is no reason to exclude social democracy as such from what Fotopoulos calls the tradition of autonomy. It is suggested that if the working class movement could free itself from the capitalist imaginary and return to its quest for autonomy, a synthesis of a radically reformed social democracy and inclusive democracy could greatly improve the prospects of each to successfully challenge not only neo-liberalism, but also the emerging liberal fascism of USA, Britain and Australia.
Keywords: CASTORIADIS, Cornelius, 1922-1997; democracy; fascism; neoliberalism; political doctrines; political science - study & teaching; review; social democracy; social movements; socialism

Karl Polanyi : une voix du siècle passé, Abstract - Cangiani, Michele (Revue du MAUSS, 2009)
RésuméSituer Karl Polanyi dans son temps et par rapport aux grandes théories sociales du passé, y compris celle de Marx, nous permet de mieux comprendre les problèmes du temps présent. C’est de ce point de vue que l’article cherche à mettre brièvement en relief quelques aspects de la contribution de Polanyi à la connaissance historique, à la critique de la science économique et à la théorie politique., To consider Karl Polanyi’s thought in relation to his time and to great social theories of the past, Marx’s theory to begin with, can improve our understanding of problems of current times. This is the starting point of this article’s attempt to synthetically focus some aspects of Polanyi’s contribution to historical knowledge and political theory, and of his critique of economics.
Keywords: political theory

Una lectura transversal de la Formación Profesional Ocupacional pública: entre Karl Polanyi, Max Weber y Michel Foucault - Dautrey, Philippe (Cuadernos de Trabajo Social (Espana) Vol. 22, 2009)
La formación profesional ocupacional (FPO) se ubica en una encrucijada de problemáticas que analizaron tanto Karl Polanyi como Max Weber y Michel Foucault. Por un lado, el papel fundamental que desempeñan los mercados autorregulados en el nuevo gran cambio que significa la globalización suscita un movimiento contraprotector del que participa esta capacitación para el empleo. Por otro, respalda el desarrollo de la organización racional capitalista, la cual a su vez implica su racionalización. Por último, es parte del control social que tal organización necesita para llevar a cabo sus propósitos. En resumen, las todavía relevantes obras de dichos estudiosos ofrecen una perspectiva diacrónica sobre el entorno de la FPO. También permiten apreciar el papel equívoco que ésta cumple respecto al desenvolvimiento y a los valores del sistema socio-económico vigente. ENG: The occupational vocational training (FPO) is located at a crossroads of problems that analyzed both Karl Polanyisuch as Max Weber and Michel Foucault. On the one hand, the fundamental role played by self-regulated markets in the new great change that globalization means provokes a counterprotective movement in which this training for employment is involved. On the other, it supports the development of rational capitalist organization, which in turn implies its rationalization. Finally, it is part of the social control that such organization needs to carry out its purposes. In summary, the still relevant works of these scholars offer a diachronic perspective on the environment of the FPO. They also allow us to appreciate the equivocal role it plays in respect to the development and values ​​of the current socio-economic system.
Keywords: FOUCAULT, Michel, 1926-1984; Post-Fordism; Spain; WEBER, Max, 1864-1920; capitalism; capitalismo; control social; employment; formacion profesional; knowledge economy; racionalizacion de la economia; rationalization of the economy; social control; vocational training; work

Backwash and Beyond: the Assumption of "Social Man" vs "Economic man": From Karl Polanyi to Mark Granovetter——The Latest Developments of the New Economic Sociology - Deshun, Zang (The Journal of Gansu Administration Institute, 2009)
As the hard core of western economic theory, the "economic man" assumption has been contradicted and challenged by the "social man" assumption since it formatted, which promotes economic theory to have adjusted its protective belt to promote the development of economics discipline. Polanyi's " embedded" theory, as the base of economic sociology which takes "social man" assumption as its hard core, is a subversive critique to "economic man" assumption. Based on "social man", New Economic Sociology (NES), established by Granovetter and others, regards men as "social men" firstly, and examines their social relations and institutions, and then analyzes the incentive mechanism of economic behavior. NES supplementally and even alternatively explains some theories proposed by economic models driven by traditional rational choice and utility. Thus, communion and dialogue has become inescapable to those subjects which are the same studying objects of the two disciplines.
Keywords: economic man; embeddedness

Karl Polanyi et La Pédagogie De L'incohérence - Gazier, Bernard; Mendell, Margie (Annals of Public and Cooperative Economics, 2009)
Cet article vise à examiner de manière critique et constructive l'actualité de la pensée de Karl Polanyi pour comprendre le développement de l'économie plurielle au XXIe siècle et pour agir sur celui-ci. Il montre la très grande actualité de cette pensée, ainsi que la nécessité de s'intéresser à l'œuvre entière de Karl Polanyi, et pas seulement à«La grande transformation». Partant des usages multiples du concept d'encastrement et de désencastrement, il relie les propositions inspirées par Karl Polanyi sur «le processus institué de démocratisation économique»à des développements récents tant pratiques que théoriques: les «>marchés transitionnels du travail» et la «nouvelle finance publique». ENG: The aim of this article is to examine critically and constructively the current state of Karl Polanyi's thinking in order to understand and act on the development of the pluralist economy in the twenty-first century. It shows the very topicality of this thought, as well as the need to take an interest in the entire work of Karl Polanyi, not just "The great transformation". Starting from the multiple uses of the concept of embedding and disencing, he links the proposals inspired by Karl Polanyi on "the instituted process of economic democratization" to recent practical and theoretical developments: "transitional labor markets" and " New public finance ".
Keywords: economic democratization; instituted economic process; new public finance; pluralist economy; transitional labor markets; transitional labour markets

Polanyi and the Instituted Processes of Markets: Introducing a Wellbeing Perspective - Johnson, Susan (2009)
Analysis of the role of markets in development is mainly focused on their ability to promote material provisioning. Polanyi argued that markets were only one approach to material provisioning, and that the concept of the self-regulating market had become disembedded from society. He was concerned that processes of provisioning be understood within the wider framework of society and developed the concept of instituted process as a means to understand this role. This paper sets out to explore whether and how Polanyi’s concept of instituted process might work with emerging approaches to analysing wellbeing – what it means to live well – to offer tools for the institutional analysis of markets.
Keywords: embeddedness; instituted economic process; instituted process; institutions; well-being

Polanyi, lecteur de Marx - Maucourant, Jérôme (2009)
En premier lieu, c'est la critique du capitalisme et du fascisme comme la prolongation toujours possible de celui-ci qui nous semble devoir être traitée. L'interprétation chrétienne du marxisme, à laquelle se livre Polanyi, est une façon de comprendre la condition d'étrangeté qu'éprouve l'homme moderne face à lui-même ; cette interprétation permet aussi de voir dans le fascisme la négation même du socle judéo-chrétien qui fonde en Occident la communauté humaine authentique. En second lieu, nous aborderons la question du contenu et de la construction du socialisme. Si, pour Polanyi, le socialisme est la réponse chrétienne aux défis posés par l'âge industriel, en revanche, la démocratie n'est pas une simple "superstructure" du capitalisme : une ambiguïté de l'œuvre de Marx est alors soulignée. Le socialisme, selon Polanyi, est l'extension du constitutionnalisme à la sphère de l'économie. Aux mirages de l'économie de commandement, Polanyi, dès 1922, oppose déjà la nécessité éthique d'une économie décentralisée impliquant la responsabilité des producteurs-associés. D'ailleurs, la signification du socialisme semble liée à la façon politique de l'instituer. Polanyi est hostile à la doctrine selon laquelle la stricte préservation de l'intérêt économique d'une classe sociale est à même d'assurer sa sauvegarde à long terme, car la lutte de classes doit tenir compte d'enjeux sociaux globaux. D'une façon générale, contre toute forme de déterminisme, singulièrement celui de la IIième internationale, Polanyi oppose la valeur de ce qui est dû aux choix conscients et responsables. Enfin, nous présenterons les débats anthropologiques qui marquèrent la seconde grande période de l'itinéraire de Polanyi. Jusqu'en 1936, il est possible d'inclure Polanyi dans le courant austro-marxiste ; après 1950, Polanyi critique l'idéologie économique qui caractérise nombre d'aspects du travail des sciences sociales. Les figures du travail de Marx qui sont inspirées par l'économisme occidental sont dénoncées par Polanyi ; mais Polanyi lui-même et certains membres de son école distinguent bien Marx d'Engels. Il n'en reste pas moins que les investigations de Polanyi sont une façon de conserver certains acquis du travail de Marx tout en s'émancipant du cadre de la dialectique. Popper lui-même reconnaît une dette envers Polanyi : celui-ci lui aurait montré les vertus d'un "nominalisme méthodologique" pour les sciences sociales dans les années 20. C'est cette même attitude qui inspire le programme Columbia des années 50 et qui provoque le rejet par certains marxistes de la méthode dite "substantive". Mais, ce que rejette Polanyi, ce n'est pas l'intérêt de l'analyse marxiste pour le capitalisme de son époque, c'est plutôt l'extension aux sociétés non-modernes de concepts imprégnés par la modernité ; c'est enfin, le refus de toute "loi" de développement social. Par où Polanyi, sans être cette façon d'anti-Marx à l'usage de "radicaux" pour les temps post-modernes, se révèle aussi pertinent qu'actuel. First, this is the critique of capitalism and fascism as the always possible extension of it seems we have to be treated. The Christian interpretation of Marxism by Polanyi is a way of understanding the condition of strangeness experienced by modern man in front of himself; This interpretation also makes it possible to see in fascism the very negation of the Jewish-Christian base which founds the authentic human community in the West. Second, we will address the question of the content and construction of socialism. If, for Polanyi, socialism is the Christian response to the challenges posed by the industrial age, democracy, on the other hand, is not a simple "superstructure" of capitalism: an ambiguity of Marx's work is underlined. Socialism, according to Polanyi, is the extension of constitutionalism to the sphere of the economy. To the mirages of the economy of command, Polanyi, already in 1922, already opposes the ethical necessity of a decentralized economy involving the responsibility of the associate producers. Moreover, the meaning of socialism seems to be linked to the political way of instituting it. Polanyi is hostile to the doctrine that the strict preservation of the economic interest of a social class is capable of ensuring its long-term safeguard, since the class struggle must take account of global social issues. In a general way, against all forms of determinism, particularly that of the Second International, Polanyi opposes the value of what is due to conscious and responsible choices. Finally, we will present the anthropological debates that marked the second major period of Polanyi's itinerary. Until 1936, it was possible to include Polanyi in the Austro-Marxist current; After 1950, Polanyi criticized the economic ideology that characterizes many aspects of social science work. The figures of Marx's work which are inspired by Western economism are denounced by Polanyi; But Polanyi himself and some members of his school distinguished Marx from Engels. The fact remains that Polanyi's investigations are a way of preserving certain of the achievements of Marx's work, while emancipating himself from the framework of the dialectic. Popper himself acknowledged a debt owed to Polanyi, who would have shown him the virtues of a "methodological nominalism" for the social sciences in the 1920s. It was this attitude that inspired the Columbia program of the 1950s, Provokes the rejection by certain Marxists of the so-called "substantive" method. But what Polanyi rejects is not the interest of Marxist analysis for the capitalism of his time, but rather the extension to modern societies of concepts imbued with modernity; Finally, the refusal of any "law" of social development. By which Polanyi, without being this way of anti-Marx to the use of "radicals" for the post-modern times, is as relevant as it is actual. Working paper or preprint
Keywords: MARX, Karl, 1818-1883; communism; communisme; fascism; fascisme; matérialisme historique; socialism; totalitarisme; vitalisme

Keynes’s Stimulus, Polanyi’s Movement - Milberg, William S. (Harvard College Economic Review, 2009)
The foundations of Keynes and the principles of Polanyi offer insight into crafting a new American economy
Keywords: KEYNES, John Maynard, 1883-1946; economics

The Financialization of Modern Economies in Monetary Circuit Theory - Pilkington, Marc (The Political Economy of Monetary Circuits: Tradition and Change in Post-Keynesian Economics, 2009)
Keywords: Canada: 1913-; banks; depository institutions; economic history: financial markets and institutions: United States; government and the monetary system; haute finance; history of economic thought: individuals; household saving; international financial markets; micro finance institutions; monetary policy, central banking, and the supply of money and credit; monetary systems; mortgages; payment systems; personal finance; regimes; standards

Second thoughts: on economics, sociology, neoliberalism, Polanyi's double movement and intellectual vacuums - Piore, Michael J. (Socio-Economic Review;2009, Vol. 7 Issue 1, p161, 2009)
The article presents a presidential address by Michael J. Piore, delivered at the Society for the Advancement of Socio-Economics (SASE) Annual Meeting 2008 in San JosÃ©, Costa Rica, in which he discussed the relationship between sociology and economics, and the role that this relationship plays at the current political juncture in the transition from neoliberalism to the formation of public policy.
Keywords: double movement; economic sociology; neoliberalism

The Great Transition - Spratt, Stephen; Simms, Andrew; Neitzert, Eva; Collins, Josh-Ryan (New Economics Foundation, 2009)
Maps out a set of solutions to various systemic problems "This report argues that nothing short of a Great Transition to a new economy is necessary and desirable, and also possible. " - We have called the process by which this could happen the Great Transition as a deliberate echo of The Great Transformation, written by Karl Polanyi in the 1940s.1 While in a relatively short report such as this we could not hope to achieve anything remotely comparable to Polanyi’s great work, the scale of the change we need to see is at least the equal of the changes he described. Polanyi analysed how market processes in the industrial revolution had created severe ruptures in the fabric of social life, and argued strongly that we needed to reverse this and nd a balance between the market and the non-market; the private and the public; the individual and the community. We couldn’t agree more, and the need to achieve this is all the more pressing now given the huge environmental problems we face, problems that Polanyi could not have foreseen in 1944 when the world was caught in the bloody conclusions of the Second World War. The most pressing problem facing humanity now is how to share scarce planetary resources in ways that are just, sustainable and support the well-being of us all.
Keywords: environemntal politics; environmental value; redistribution

Human Rights and Business Practices: Double Movement or Neoliberal Hegemony? - Thomas, Mark (Conference Papers -- American Sociological Association, 2009)
Throughout the 1990s and into the early years of the 21st century, campaigns by labor rights activists brought the issue of labor exploitation by Northern transnationals (TNCs) operating in the Global South into the centre of public debate. Labor rights scholars raised the possibility of a broader Polanyian 'double movement' in the global economy, as the polarizing effects of neoliberal globalization produced anti-globalization movements and shifts towards forms of social protection through emerging approaches to transnational labor rights regulation. One of the results of these processes was the adoption of a human rights discourse by TNCs as they sought to re-define their public image in response to growing public awareness and condemnation of sweatshop labor practices. Read through a Polanyian lens, these developments would seem to confirm that a double movement was in fact producing a more socially responsible capitalism where the 'satanic mill' of the sweatshop would be moderated through corporations proclaiming respect for human rights. In this paper, I examine the adoption of human rights principles by corporate actors as both normative framework and business practice. I argue that rather than a double movement from market liberalism to social protection, the dynamics present in this process indicate tendencies towards the construction of a new hegemonic discourse to support neoliberal globalization - that of the 'socially responsible' corporation where business practices and human rights principles intersect. ..PAT.-Unpublished Manuscript
Keywords: employee rights; hegemony; human rights; neoliberalism; satanic mill; transnationalism

Markets Against Society: Labor's Predicament in the Second Great Transformation - Webster, Edward; Lambert, Robert (The ISA Handbook in Contemporary Sociology: Conflict, Competition, Cooperation, 2009)
Keywords: labour movement; northern compromise; second great transformation

Co-operatives in a Global Economy: The Challenges of Co-operation Across Borders - Reed, Darryl; McMurtry, J. J. (Cambridge Scholars Publishing, 2008)
In their efforts to internationalize in the emerging global economy, co-operatives not only face a variety of problems that are common to all firms, but encounter specific challenges due to their particular value commitments, forms of incorporation and organizational structures. These features of cooperatives are generally seen as a major source of competitive disadvantages and may cause significant trade-offs, forcing cooperatives to choose between living up to their principles of member ownership and control and remaining economically viable. Critics argue that such trade-offs signal the increasing irrelevance of cooperatives in a global economy. Advocates, however, counter that cooperatives may have unique competitive advantages which can be exploited in a global economy and that current trade-offs facing cooperatives can be overcome with the development of new international and transnational cooperative institutions and practices. Cooperatives, they claim, represent a much more sustainable and equitable form of production and may form the basis for viable, alternative approaches to development. This collection examines these debates about the roles of cooperatives in our increasingly global economy.
Keywords: business & economics; business & economics - international; co-operatives; globalization; social economy; social science - developing and emerging countries

Endogenous Institutions and the Politics of Property: Comparing and Contrasting Douglass North and Karl Polanyi in the Case of Finance - Davis, Ann E. (Journal of Economic Issues, 2008)
The purpose of this paper is to contrast the work of Douglass North and Karl Polanyi regarding financial institutions associated in market economies. Both implicitly acknowledge the synergy between public and private financial markets, which can serve to solidify an alliance between wealth holders and the state, potentially at the expense of “sociery” at large. This alliance may stimulate growth, according to North, as well as impose the strain of the market, according to Polanyi. Taken together, these insights undercut the classical story of the neutral role of money, as well as the notion of a clear distinction between public and private, politics and markets.
Keywords: NORTH, Douglass; economic history; finance; property

Affect and the Rise of the Self-Regulating Market - Gammon, Earl (Millennium: Journal of International Studies, 2008)
This article outlines a post-rationalist approach to international political economy that factors in the role of affect in social causation. There are key historical junctures where social transformations cannot be neatly explained by instrumental logics, such as the profit motive or the pursuit of increasing productive efficiency. Affect, in the form of anxiety and aggression, overdetermines social behaviour in ways that belie conventional notions of rationality, premised on a clear ordering of needs or preferences by social actors. This analysis specifically reassesses the role of affect in the rise of market civilisation in Britain in the early part of the nineteenth century. It critiques Karl Polanyi's account, which privileges technology and pecuniary greed as the expedients of the institution of the self-regulating market. As an alternative, this article explains the rise of the self-regulating market as a retributive mechanism, whereby the market became conceived as a means of punishing and disciplining social behaviour in the early Victorian period. The market, I argue, was an aggressive response to anxiety that plagued Victorian society regarding social order, an anxiety precipitated by the waning belief in a natural moral economy guided by the hand of Providence.
Keywords: Great Britain; affect; critique; international political economy; post-rationalist IPE; self-regulating market; social causation

The Karl Polanyi Institute of Political Economy : A Narrative of Contributions to Social Change - Gomez, Ana (Revue Interventions économiques. Papers in Political Economy, 2008)
Introduction: In February of 1941 Karl Polanyi wrote to his daughter Kari about his intention to submit to the publisher the first three chapters of the book The Great Transformation. The Origins of the Cataclysm. About the book, he wrote “[I]t will be a very straight-forward, simple story, easy to read and mainly historical in character”. A week later he added a post-script. Referring to the Notes in the manuscript, he wrote, “[T]he book is seemingly so simple and unsophisticated that unless d...
Keywords: Karl Polanyi; double mouvement; double movement; encadrement; marchandise fictive; école substantiviste

Anthropology in the financial crisis - Hart, Keith; Ortiz, Horacio (Anthropology Today, 2008)
This editorial considers the opportunities opened up for anthropologists by the financial crisis of 2008. The chief of these is the exposure of cracks in the intellectual hegemony of free-market economics which contributed to an unnecessarily defensive posture on the part of most anthropologists during the period of neoliberal globalization. The authors claim that anthropology can bridge the gap between everyday life and the world at large by combining the study of ideas and social actions. We draw on Ortiz's research among financial professionals to show how working practices informed by economic liberalism can have extremely unequal consequences for the global distribution of resources. The perspectives of Mauss and Polanyi on political economy can help us to make sense of the current situation and to recommend a path forward beyond market fundamentalism. Their general ideas lend power to the concrete findings of field research. The mask of neoliberal ideology has been ripped from the politics of world economy. Anthropology's highest mission is to start from where people are and go with them wherever they take you. What better time to follow this imperative than when the model the world has been compelled to live by for three decades is in such disarray?
Keywords: finance; financial crisis

Encastrement et nouvelle sociologie économique : de Granovetter à Polanyi et Mauss - Laville, Jean-Louis (Revue Interventions économiques. Papers in Political Economy, 2008)
Le concept d’encastrement s’est imposé dans la nouvelle sociologie économique. Ce texte souligne sa polysémie. Dans une première partie, il rappelle les deux acceptions politique et réticulaire respectivement adoptées par Granovetter et Polanyi. Rapportée à la modernité démocratique, la démarche de Polanyi permet de mettre en évidence un double mouvement caractérisant les rapports entre économie et société, dont les grands traits sont synthétisés dans la deuxième partie. Si l’on adopte une telle lecture, la convergence entre Polanyi et Mauss apparaît alors dans une approche plurielle de l’économie, présentée dans la troisième partie. Selon l’hypothèse esquissée dans la quatrième partie, une telle lecture suggère d’approfondir la teneur des changements institutionnels susceptibles de conforter la pluralité de l’économie, autrement dit de participer à son « ré-encastrement » démocratique. The concept of embeddedness has imposed itself in the New Economic Sociology. This paper highlights the multiple meanings of this term. In a first part, we discuss the political and reticular meanings adopted by Granovetter and Polanyi respectively. In the context of modern democracy, the work of Polanyi shows a double movement characterizing the relations between economy and society, which we develop in the second part. With such a perspective, the convergence between Polanyi and Mauss is highlighted in a plurial approach of the economy, which we discuss in the third part. The hypothesis presented in the fourth part leads us to analyze the content of institutional changes which can confirm the plurality of the economy, and to participate in its democratic « reembeddedness ».
Keywords: GRANOVETTER, Mark; MAUSS, Marcel, 1872-1950; economic sociology; encastrement; niveau d’intégration; sociologie économique

Law as the Interplay of Ideas, Institutions, and Interests: Using Polyani (and Foucault) to ask TWAIL Questions - Fakhri, Michael (International Community Law Review, 2008)
This paper sketches out some preliminary thoughts on political economy that stem from problematics that emerge from TWAIL. The TWAIL story of international law is one of frustration and disappointment because of the constant exploitation of the Third World despite all the historic changes in international legal ideas and institutions, but it also a story of hope in the moments of resistance. In order to better debate how particular international institutions should be changed or whether particular international institutions should be renounced, I suggest that we need to explicate the theories of political economy embedded within these institutions. Drawing from Karl Polanyi's The Great Transformation, bringing alongside the work of Michel Foucault, I sketch out one way of conducting a study of international political economy by suggesting that we can think of law as the interplay of ideas, institutions, and interests.
Keywords: FOUCAULT, Michel, 1926-1984; TWAIL; economics; globalization; international agencies; international cooperation; international institutions; international law; international political economy; law

Etica e impresa: come e perché 'ritornare' a Polanyi - La Rosa, Michele (Business and Ethic: why should we go back to Polanyi?, 2008)
The essay, after trying to do a synthesis of today's debate about business and ethics, proposes to return to Karl Polanyi starting from a different meaning of the three founding principles proposed by the author (exchange, reciprocity and redistribution).
Keywords: business ethics; business people; essay (literary form); professional ethics

Mercato: fatto o valore? Oltre la dicotomia - Rovelli, Riccardo (Market: fact or values? Beyond dichotomy!, 2008)
Economists are fond of proposing market solutions for many problems of resource allocation, while scholars from other social disciplines are often less inclined to adopt such solutions. In this essay I interpret the dichotomy for/against the market in the light of the one between neoclassical economics and the socio-anthropological tradition which originates with Karl Polanyi. In the first part, I suggest that this dichotomy runs in parallel to the one between facts and, which is typical of (neo)positivist thought. This dichotomy, which has been analyzed by Hilary Putnam, also reflects the self-portrait of neoclassical economics, as it has been proposed by Pareto and Robbins. Following this perspective in the second part I suggest on the one hand that the work of Polanyi should be interpreted as a reaction to neoclassical economics, but on the other hand it is also based on an incorrect interpretation of both facts and ideas in the history of ancient societies. Finally I notice that, although recent researches confirm that ancient societies should be interpreted as "conglomerations of interdependent markets" (thus following Temin against Polanyi and Finley), the presence and relevance of markets does not justify an under-socialized interpretation of ancient market economies: on the contrary, as it was well clear to many scholars, in a tradition that loosely connects Homer with Adam Smith, markets are and should be interpreted as value-laden facts. In the conclusion I discuss some implications of this view for the analysis of contemporary society.
Keywords: PUTNAM, Hilary, 1926-2016; SMITH, Adam, 1723-1790; economists; feasibility studies; markets - social aspects; neoclassical economics; neoclassical school of economics; resource allocation

Introducing Karl Polanyi - Pabst, Adrian (The Guardian, 2008)
Adrian Pabst: Step aside, Keynes: the only economist to grasp the real limitations of capitalism and socialism was Hungarian
Keywords: credit crunch; economic policy; economics

Karl Polanyi's The Great Transformation: perverse effects, protectionism and Gemeinschaft - Dale, Gareth (Economy and Society, 2008)
Drawing upon Karl Polanyi's journalistic writings and unpublished lectures from the 1920s and 1930s, this article reconstructs the lineaments of his research programme that was to assume its finished form in The Great Transformation. It identifies and corrects a common misinterpretation of the thesis of that book, and argues that Polanyi's basic theoretical framework is best conceived as Tönniesian: market society is Gesellschaft, while the ‘protective counter-movement’ of The Great Transformation is Gemeinschaft, understood dynamically. It examines the two central mechanisms by which, in Polanyi's understanding, Gesellschaft broke down in the mid-twentieth century: the ‘clash between democracy and capitalism’ and the ‘perverse effects’ whereby political intervention in markets impairs profitability and saps the vitality of the market system.
Keywords: Ferdinand Tönnies; TONNIES, Ferdinand, 1855-1936; The Great Depression; capitalism; democracy; perverse effects doctrine

Karl Polanyi's Legacy - Hart, Keith (Development and Change, 2008)
Click on the article title to read more.
Keywords: biography

A New Alliance of De-legalisation and Legal Formalism? Reflections on Responses to the Social Deficit of the European Integration Project⋆ - Joerges, Christian (Law and Critique, 2008)
This paper will cover a wide range of issues. It will start with a reconstruction of the European Community’s ‘social deficit’, arguing that a credible response to this deficit would be a pre-condition for the democratic legitimacy of the deepened integration project. Such a response can be developed in a re-conceptualisation of European law as a new type of supranational/trans-statal conflict of laws – this is the thesis defended in the second section. This vision is contrasted in the third section, first with the steps towards Social Europe envisaged in the Draft Constitutional Treaty, and then with the messages of the recent judgments of the European Court of Justice (ECJ) in Viking and Laval. It goes without saying that the theoretical premises of the argument, let alone its many interdisciplinary dimensions and empirical background, can often only be signalled, but not developed systematically. " I wish to submit is that the ‘social embeddedness’ thesis can help us to understand why Europe has developed an ever more sophisticated regulatory machinery entrusted with the management of the internal market – and why the social deficit of the European construction has become a prominent part of the European agenda.
Keywords: Social Europe; conflict of laws; ordoliberalism; social deficit; social embeddedness; socio-economic division; unity/diversity

La dépolitisation de la notion de « capital social » : pourquoi pas un retour à Karl Polanyi? - Bibeau, Gilles (Anthropologica, 2008)
Keywords: social capital

Društvo I (ili) Tržište -- Sociološka Konceptualizacija Procesa Marketizacije Društva - Peračković, Krešimir (Gesellschaft und (oder) Markt. Eine soziologische Konzeptualisierung des Prozesses der Gesellschaftsmarketisierung., 2008)
The main goal of this work was to theoretically conceptualise the process of marketisation which designates the transformation of society into a market economy and social relations into market relations. The starting point is first the comparative analysis of the definitions of the term market by some classic authors (Smith, Marx, Weber, Durkheim and Parsons), each of whom define it from their perspective as a monetary mechanism of exchange in the economic sphere of social activity. In the second chapter K. Polanyi's theory of social transformation is presented, in which he is the first to state that the principle of market self-regulation has become the fundamental feature of modern society. Analysed in the third chapter is the market economy society model of D. Slater and F. Tonkiss, who claim that the process of marketisation in the most developed countries has already been completed and that today's society has already become a market society. The paper also presents in short the theory of marketing neglected in sociological literature, the main concept of market economy as a rational system of research and planning, which is currently not only applied in the economy but also in politics and culture. A special chapter is devoted to commodification, a process that concretises on a micro level the goals of marketisation, implying the transformation of nature, things, people, relations, meanings and immaterial resources into market commodities. The ultimate result of the marketisation and commmodification processes in a market society becomes evident in Rifkin's ominous hypothesis that all human life has become an experience to pay for, which is also the topic of the last chapter. (English)
Keywords: Kommodifizierung; Marketisierung; Markt; Marktgesellschaft; Marktverhältnisse; capitalism; commodification; comparative studies; definitions; komodifikacija; market; market relations; market society; marketing; marketisation; marketizacija; research; socioeconomics; tržišni odnosi; tržišno društvo; tržište

"A Market Where We All Fit" Adult Education and the Fair Trade Movement - Sumner, Jennifer (Canadian Journal for the Study of Adult Education, 2008)
The global market continues to create the "great and permanent evils" so well outlined by Karl Polanyi in his book, The Great Transformatioit His description of the destructive effects of the emerging self-regulating market during the Industrial Revolution is reflected today in the ongoing erosion of social, environmental, and economic sustainability in both the North and the South. In this downward spiral of life parameters, fair trade opens up the possibility of a market where we all fit, not where we all ultimately fail. Adult education has a vital role to play in opening up spaces where fair trade can prosper and grow, thus contributing to a second great transformation to a more sustainable society.
Keywords: Great Transformation, The (Book); POLANYI, Karl, 1886-1964; adult education - economic aspects; international trade; self-regulation of industries; unfair competition

Le capital et la question nationale - Maucourant, Jérôme; Tinel, Bruno (Actuel Marx, 2008)
Nations are the forms of political organization which peoples construct for themselves. It is a commonplace to state that globalization tends (for the better) towards the end of nations. However the history of capitalism shows that such a hypothesis is questionable. Globalization is merely a stage in the development of capitalism, which has always leaned on certain nations to secure its deployment: England in the past, the U.S. today. The real question is thus that of the hegemony of one nation over other nations and, ultimately, the question of democracy, the sovereignty of peoples in the face of capital.
Keywords: democracy; globalization

Standing Polanyi on His Head: The Basic Income Guarantee as a Response to the Commodification of Labor - Caputo, Richard K. (Race, Gender & Class, 2008)
This paper examines unconditional basic income schemes proposed by Philippe Van Parijs and by Ross Zucker in light of Karl Polanyi's analysis of the 1795 Speenhamland Law and of Esping-Andersen's use of decommodification as a signifier of social provisioning in welfare states. It discusses tradeoffs between productive advantages of market-based economies and dehumanizing disadvantages of commodified labor. Contemporary redistributive schemes such as those of Van Parijs and of Zucker extol the productive virtues of market economies well beyond what Polanyi, who advocated for subjecting markets to social purposes, would consider acceptable. Further, Van Parijs's and Zucker's basic income schemes extol capitalism, perhaps mistakenly, as a means of achieving a more egalitarian social order of which Polanyi would in all likelihood approve, if such economies functioned as portrayed and were properly implemented to de-commodify labor, that is at a level considered adequate and acceptable to the society in which one lives.
Keywords: Speenhamland Law; United States - economic policy - 2001-2009; basic income guarantee; capitalism; commodified labor; decommodification; economic conditions - United States - 2001-2009; income; labor; labour; market economies; market economy; policy studies; social welfare states

The Institutions of the Market: Organizations, Social Systems, and Governance - Ebner, Alexander; Beck, Nikolaus (OUP Oxford, 2008)
This book approaches markets as a dynamic ensemble of institutions; and as a set of rules or norms, that contribute to the evolution of social systems of governance, and can be analysed as a structured social system. It tackles such questions as: * Where do markets come from and what drives their evolution? * How do organizations cope with the competitive dynamism of markets? * What is the role of governance mechanisms in the institutional coordination of markets? Using this 'new institutionalist' approach, an international group of leading scholars examine the institutional foundations of economic change. Drawn from an array of disciplines, including Business, Organization Studies, Economics, and Sociology, the contributors address the organizational capabilities of firms, the social structuration of competition, and the diversity of governance mechanisms in the market. Contributors include: Nikolaus Beck, Christophe Boone, Robert Boyer, Alexander Ebner, Neil Fligstein, Henrich R. Greve, John Harriss, Bob Hinings, Geoffrey M. Hodgson, Bob Jessop, Alfred Kieser, Namrata Malhotra, Renate E. Meyer, Richard R. Nelson, Rudolf Richter, Peter Walgenbach, Filippo Carlo Wezel, Sidney G. Winter, and Arjen Van Witteloostuijn.
Keywords: business & economics; competitive dynamism; economics; evolution of markets; governance mechanisms; institutional coordination; management; markets; new institutionalist approach; organizational capabilities; social structuration

Genealogies of Citizenship: Markets, Statelessness, and the Right to Have Rights - Somers, Margaret R. (Cambridge University Press, 2008)
REVIEW: Genealogies of Citizenship is a remarkable rethinking of human rights and social justice. As global governance is increasingly driven by market fundamentalism, growing numbers of citizens have become socially excluded and internally stateless. Against this movement to organize society exclusively by market principles, Margaret Somers argues that socially inclusive democratic rights must be counter-balanced by the powers of a social state, a robust public sphere and a relationally-sturdy civil society. Through epistemologies of history and naturalism, contested narratives of social capital, and Hurricane Katrina's racial apartheid, she warns that the growing authority of the market is distorting the non-contractualism of citizenship; rights, inclusion and moral worth are increasingly dependent on contractual market value. In this pathbreaking work, Somers advances an innovative view of rights as public goods rooted in an alliance of public power, political membership, and social practices of equal moral recognition - the right to have rights. "Building on Karl Polanyi, T. H. Marshall, and Hannah Arendt. Margaret Somers demonstrates that civil society rests on Ihe right to have rights. But this right has been swept away by three decades of market-dominated discourse and policies. Somers brilliantly shows how Hurricane Katrina's devastating impact on New Orleans was the culmination of this dynamic." -Fred Block
Keywords: ARENDT, Hannah; citizenship; civics and citizenship; civil rights; history / Europe / general; political science - history and theory; right to have rights

Michael and Karl Polanyi: Conflict and Convergence - Gulick, Walter (Political Science Reviewer, 2008)
The article focuses on social philosophers and brothers Michael and Karl Polanyi. Particular attention is given to Michael's political, economic, and social thoughts and how they compare to Karl's. The author wishes to illuminate Michael's social though through this comparative study. Topics include the brother's family background, Michael's early thought, and divergent paths.
Keywords: POLANYI, Michael, 1891-1976; biography; comparative studies; social theory

The Great Transformation: The Double Movement in China - Shaoguang, Wang (boundary 2, 2008)
KM: Both the title and the subtitle of this essay are adopted from Karl Polanyi, who published his famous book The Great Transformation: The Political and Economic Origins of Our Time in 1944. More than six decades have passed since its publication, but, as Joseph E. Stiglitz states in the preface of the recent new reprint, “the issues and perspectives Polanyi raises have not lost their salience . . . it often seems as if Polanyi is speaking directly to present-day issues.” ... China is experiencing “a transformation unprecedented in thousands of years” (qiannian weiyou zhi da bianju). More than one hundred years ago, the Qing official Li Hongzhang used these words to describe the era he was living in. Two decades later, the May Fourth generation had a similar take on their time, too. However, in terms of the economic foundation and the speed, depth, and scope of the social structure’s transformation, no other era can be compared to the last two decades or so.
Keywords: China; Great Transformation, The (Book); double movement

Is an Alternative Globalization Possible? - Evans, Peter (Politics & Society, 2008)
Building on Polanyi's concept of the “double-movement” through which society defends itself against domination by the self-regulating market, this article sets out some key organizational and ideological hurdles that the contemporary “movement of movements” must surmount to challenge the hegemony of neo-liberal globalization. After outlining neo-liberalism's failures, it makes an argument for the possibility of “counter-hegemonic globalization,” defined as a globally organized project of transformation aimed at replacing the dominant (hegemonic) global regime with one that maximizes democratic political control and makes the equitable development of human capabilities and environmental stewardship its priorities.
Keywords: double movement; globalization; neoliberalism; social movements; transnational networks

Personal Retirement Accounts & the American Welfare State: A Study of Income Volatility and Socioeconomic Status as Correlates of PRA Support - Caputo, Richard K. (Journal of Poverty, 2008)
Based on a sample (n = 6,407) from the National Longitudinal Survey of Youth, 1979 cohort, this study found a sizable majority (69.1%) of support to replace a portion of Social Security with Private Retirement Accounts. Logistic regression analysis showed that SES was a robust predictor of PRA support, particularly for upper class vs. lower class respondents. Findings suggested that there may be less support for a major pillar of welfare state social provisioning, despite successful Congressional attempts to block related legislation to date, especially since the opinions of more affluent persons tend to have greater resonance with policymakers than those of lower income individuals.
Keywords: United States; employee fringe benefits; personal retirement accounts; policy studies; privatization; regression analysis; social security; socioeconomic status; socioeconomics; surveys; volatility (finance); welfare state

After the disaster - Hart, Keith (Anthropology Today, 2008)
Naomi Klein's The Shock Doctrine offers a weak analysis of ‘neoliberalism’ linked to a defeatist ideology. If we wish to move beyond the global economic crisis, we should borrow ideas from Mauss, Polanyi and Keynes; but the political level for an appropriate response is not obvious.
Keywords: KLEIN, Naomi; neoliberalism

Karl Polanyi for Historians: An Alternative Economic Narrative - Knowles, Rob; Owen, John R. (The European Legacy, 2008)
The purpose of this essay is to provide the historian with a generic understanding of the term economy by examining some aspects of the work of the Hungarian “economic historian” Karl Polanyi (1886–1964). It does not seek to explain Polanyi's economic ideas to economists nor does it seek to locate his ideas within the discourses of the academic discipline of economics; there is abundant academic literature which carries out those tasks. This essay is intended to help fill a void in the historical understanding, especially the modern historical understanding, of the term economy, and of how the characteristics associated with it are generally understood. Yet, in reality, it is the neoclassical paradigm of economics which is typically and uncritically taken to be the touchstone for understanding the economy. This circumstance is problematic, however, when referring to the economy of societies earlier than the late nineteenth century or of societies whose culture differs radically from that of the advanced capitalist “west.” Polanyi's insights may help historians avoid the risk of either distorting or anachronistically misunderstanding the economy of such societies.
Keywords: economic history; economic theory; history

Une révolution bureaucratique britannique ? - Gales, Patrick LE; Scott, Alan (Una revolución burocrática británica ? Autonomía sin control o « freer markets, more rules »., 2008)
This article originated with a puzzle : how best to account for changes in the behavior of groups, organizations and individuals in Great Britain ? A detailed analysts of what Weber and Polanyi identified as interdependencies between state and market, and of the state's role in creating the market, led to the decision to adapt the notion of bureaucratic revolution put forward by Weber. We argue that the British bureaucratic revolution is reflected in the fact that the state plays an essential role in social change by creating rules and institutions that lastingly orient actors' behavior. The examples of health and local authorities are then used to identify mechanisms that were influential throughout a ten-year period specifically the introduction of competition features (rewards and punishments) and of auditing and inspection. If our interpretation is accurate, the effects of this bureaucratic revolution may well come to be felt in contexts other than Great Britain. (English)
Keywords: 1997-2010; Great Britain - social conditions - 1945-; WEBER, Max, 1864-1920; bureaucratization; economic policy; social goals; socioeconomics

Tall among the trees: Organizing against globalist forestry in rural British Columbia - Prudham, Scott (Journal of Rural Studies, 2008)
In January of 2001, the TimberWest Corporation permanently closed its Youbou sawmill facility near Duncan, British Columbia, Canada laying off 220 workers. On the surface, the Youbou mill closure reinforced a pervasive sense that workers and communities in the province are increasingly vulnerable to an ever more globally integrated and footloose forest industry. But a funny thing happened in Youbou; the workers fought back. While the mill was completely dismantled and scrapped, with no discernable response from the provincial government, workers from the Youbou sawmill banded together to form a new NGO called the Youbou TimberLess Society. Since its inception, the YTS has developed into one of the most unique and compelling voices for forest policy reform in BC. In so doing, the YTS also represents something of an anomaly in exhibiting many of the characteristics of so-called new social movements, and yet emerging from the industrial working class. This paper explores the ways in which the YTS has served as a powerful arena in which the subjectivities of sawmill workers and other community members have been transformed through organized resistance to global capital. At the same time, informed by the YTS, the paper draws on Polanyi's idea of the dual movement to examine scales and terms on which globalization and competing notions of autonomy are contested in moral economies of both work and nature. Copyright (c) 2008 Elsevier Ltd.
Keywords: Canada; activists; double movement; employees - Canada; forest policy; forest policy - Canada; forest products industry; forests and forestry; lumber industry - British Columbia; lumber industry - Canada; rural studies; social movements; social movements - Canada

Rationality as a Social Construction: What Does Individual Behavior Have To Say About Development in an Amazon Community? - Gramajo, Andrés Marroquín (Journal of Economic Issues (Association for Evolutionary Economics), 2008)
This article argues that two different manifestations of rational behavior can coexist and collide in a relatively homogeneous society. In the Ticuna community of Arara in the Colombian Amazon; on the one hand, the majority of villagers tend to reach relatively lower levels of material wealth, following Polanyi's idea of the pre-modern man (1968a; 1968b; 1968c), and also Sahlins' (1972) idea of the original affluent man. On the other hand, community leaders and schoolteachers tend to accumulate material wealth, following Polanyi's idea of modern-man (1968a; 1968b). These behavioral frameworks help explain the limited success of certain types of development programs in the Ticuna community.
Keywords: Amazon River Region; Colombia; Tucuna (South American people); behavioral economics; communication in economic development; economic development; economic policy; economics - moral & ethical aspects; pre-modern man; rationality; reason; saving and investment; statics & dynamics (social sciences); wealth

The market and the nation: Austrian (dis)agreements - Karner, Christian (Social Identities, 2008)
This article relates contemporary Austria's much-discussed and internally contested identity politics to transnational socio-economic transformations and their far-reaching local/national effects. A qualitative analysis of (wide-ranging contributions to) current debates on the environment, food production, climate change, social inequality and welfare, higher education, art, migration, and unemployment reveals a recurring pre-occupation with expanding/encroaching markets, their advocated limits, assumed costs or promises. The negotiation of national identities is shown to unfold in relation to three inter-related phenomena: first, widening commodification; second, what Karl Polanyi termed the 'double-movement' between 'dis-embedded' economics and political counter-assertions; third, competing ideological visions of the relationship between economic activity/market forces and social order, group boundaries, solidarities and hence exclusions/inclusions.
Keywords: Austria; commodification; economic anthropology; globalization; identity politics; markets; migration; nationalism; political science; public contracts; qualitative research; social order; socioeconomics

Going Global: The Transnational Politics of the Dalit Movement - Smith, Peter (Globalizations, 2008)
This article analyses the involvement of the Dalits (formerly 'untouchables') in the World Social Forum (WSF) processes. The focus will be on one networked organization in particular, the National Campaign for Dalit Human Rights (NCDHR) as a key organization which served as a catalyst for linking the Dalit struggle against neoliberal globalization and casteism with the social forum process and the global justice movement. The article argues that the Dalit struggle, domestically and internationally, can best be understood from a Polanyian perspective, as a countermovement for social protection against neoliberal globalization. It examines the dialectic of globalization within an Indian context first in terms of the impact of neoliberal globalization upon the Dalit community and then the NCDHR's decision to go global, to the WSF. In taking their cause beyond India, a central focus of Dalit activity remains rooted in making the Indian state serve as a means of social protection for the Dalit peoples. Este artículo analiza la participación de los Dalits (previamente llamados "intocables") en los procesos del Foro Social Mundial (WSF, por sus siglas en inglés). El enfoque se concentrará particularmente en una organización en red, la Campaña Nacional por los Derechos Humanos de los Dalits (NCDHR, por sus siglas en inglés) como una organización clave que sirvió como catalizadora por haber enlazado la lucha de los Dalits contra la globalización neoliberal y el casteísmo, con el proceso del foro social y el movimiento de justicia global. El artículo plantea que la lucha de los Dalits, tanto doméstica como internacionalmente, puede entenderse mejor desde una perspectiva polanyana, como un contramovimiento para la protección social en contra de la globalización neoliberal. El mismo examina la dialéctica de la globalización dentro del contexto indio, primero en términos del impacto de la globalización neoliberal sobre la comunidad de los Dalits y luego, en términos de la decisión de la Campaña Nacional por los Derechos Humanos de los Dalits (NCDHR) de tomar una dirección global, hacia el Foro Social Mundial. Al llevar su causa más allá de la India, el tema central sobre la actividad de los Dalits permanece arraigado obligando al estado indio a servir como un medio de protección social para los Dalits.
Keywords: Dalits; class politics; countermovement; globalization - social aspects; human rights; international relations

Weber, Polanyi, and Finley - Tompkins, Daniel P. (History and Theory, 2008)
KM: a review article on Nafissi's book.
Keywords: WEBER, Max, 1864-1920; biography; review

Beyond Ethnic Entrepreneurship: An Embedded Market Approach to Group Affiliation in American Enterprise - Valdez, Zulema (Race, Gender & Class, 2008)
The traditional ethnic entrepreneurship paradigm suggests that resource mobilization based on ethnic group membership and the particular structural conditions of the economy and society combine to facilitate ethnic enterprise. Yet, this model remains largely descriptive and imprecise with respect to how and why class and ethnic resources and structural opportunity matter. Furthermore, this approach neglects to consider the likelihood that other non-ethnic social groupings distinct from ethnicity, such as those rooted in class, gender, or racial group affiliation, might also influence entrepreneurship. To address these concerns, this article introduces an "embedded market" (Block, 2003; Polanyi, 1944) approach that situates the role of group affiliation within the context of American capitalism. This approach begins with the premise that the role of group affiliation in economic action originates in and is maintained and reproduced by the social structure of the capitalist system in which it is embedded. Specifically, the embedded market approach reconsiders ethnic group membership, along with other politically-influenced social groupings (e.g. class, gender, nativity, and race) as non-essential relationships of reciprocity. In this conception, group affiliation provides the basis for compensatory relief in the form of social capital to augment market uncertainty in the modern market economy. This article uses the case of Latina domésticas to demonstrate the compensatory role of group affiliation and its corollary social capital in facilitating ethnic and "non-ethnic" enterprise in American capitalism.
Keywords: United States; business enterprises - United States; capitalism; class; doméstica; embedded market; entrepreneurship; ethnic entrepreneurship; ethnic groups; gender; race; social capital; social classes

Karl Polanyi and the antinomies of embeddedness - Gemici, Kurtuluş (Socio-Economic Review, 2008)
While Polanyi argues that all economies are embedded and enmeshed in social relations and institutions, he tends to see market economy as disembedded, which reveals a tension in his thought. The main motivation for this paper is to understand the origins of this tension. On the basis of a systematic formulation of Polanyi's work, it is argued that Polanyi employs embeddedness in a dual manner: (a) as a methodological principle akin to methodological holism, and (b) as a theoretical proposition on the changing place of economy in society. These two formulations of embeddedness contradict each other. After tracing out the origins of this contradiction, this paper concludes by considering the implications of this analysis for economic sociology. It is argued that embeddedness as a methodological principle is the only acceptable usage of the term. Yet, in this capacity, embeddedness falls short of economic sociology's goal of providing a theoretical alternative to neoclassical economics.
Keywords: Austrian history of economic thought; cultural economics; economic anthropology; economic sociology; economic systems; embeddedness; evolutionary; historical; institutional; relation of economics to other disciplines

Nano-worlds as Schumpeterian emergence and Polanyian double-movements - Randles, Sally; Dewick, Paul; Loveridge, Denis; Schmidt, Jan C. (Technology Analysis & Strategic Management, 2008)
The overarching question raised in this special issue is whether societies can, do or indeed should steer new and emergent science and technological development and its management on to trajectories construed as more or less 'desirable'. It therefore sits at the interface of two arenas. These are governance: processes of shaping/steering emergent technologies and markets; and sustainability: normative agendas incorporating a range of potentially competing conjectures and internally inconsistent desires such as to facilitate rather than stifle innovation, to enable economic development, to anticipate or deploy strategies to cope with risk and uncertainty, and to encourage technological developments that benefit rather than harm humans, their quality of life and the natural environment. Despite the potential for apparent empirical inconsistencies and contradictions that manifest as outcomes of the negotiation of these aims, there is (pace Karl Polanyi) a normative entry point to all of the articles and the material they draw upon, which is the idea that markets and technologies should be the handmaiden of societies, not vice versa. It is now widely recognized that 'nanotechnology' is a diverse set of feasible procedures emerging from scientific possibilities to enable the production of artefacts at the nanoscale creating new products, processes and services. Attention has to be paid to the desirability of these artefacts, which involve social, economic, ecologic, political and ethical matters that surround their emergence. The purpose of this special issue is to set out the current and future prospects for the widespread use (or innovation) of technological convergence at the nanoscale to create nano-artefacts, and the needs for governance and regulation that will accompany these innovations.
Keywords: POLANYI, Karl, 1886-1964; SCHUMPETER, Joseph Alois, 1883-1950; double movement; economic development; editorials; emergence; governance; nano-; nanotechnology; new product development; quality of life; sustainability; technological innovations

Karl Polanyi's and Karl William Kapp's Substantive Economics: Important Insights from the Kapp—Polanyi Correspondence - Berger, Sebastian (Review of Social Economy, 2008)
Based on the unpublished Kapp-Polanyi correspondence, the paper analyzes the relationship between the two economists, as well as the meaning and origin of substantive economics, i.e. one of the key concepts of institutional economics with distinctly European roots. The correspondence shows how both economists influenced each other in their similar understanding of the substantive economy, and reveals that these similarities and the mutual influence date back to the 'planning debate' of the 1920s and 1930s. The documents also evidence the importance of Carl Menger's definition of substantive economics in the posthumous and untranslated second edition of the Grundsätze der Volkswirtschaftslehre (Principles of Economics) (1923). As a result, Kapp's political economy, i.e. his social minima approach appears in new light. The latter actualizes the full potential of substantive economics for a modern political economy by integrating insights from Polanyi's substantive economics, Menger's differentiation of human needs according to their urgency, and Max Weber's substantive rationality.
Keywords: KAPP, Karl William; environmental management; social economy; substantive economics

The Commons as a New Sector of Value-Creation - Bollier, David (Kosmos, 2008)
Let me start with a bit of wisdom I once picked up from Thomas Berry, a historian of cultures who has said, “The universe is the communion of subjects, not a collection of objects.” This epigraph encapsulates the monumental shift that I believe we are undergoing as we move into a new kind of cultural if not economic reality. This article was originally published in the Fall | Winter 2008 issue of Kosmos Journal. To download a PDF version of this article, please click here.
Keywords: commons

Essais, Karl Polanyi, Sciences humaines - Seuil - Cangiani et al. (2008)
Essais, Karl Polanyi : L’ouvrage qui vaut à Polanyi une renommée mondiale ( La Grande Transformation paru en 1944) ne fut traduit en français qu’en 1983, signe (et cause aussi) d’une trop longue négligence pour un auteur désormais reconnu pour son apport incontestable aux sciences humaines et sociales ENG translation: The book which earned worldwide fame Polanyi (The Great Transformation, published in 1944) was not translated into French in 1983, a sign (and also because) of too long neglect for an author now recognized for his contribution Incontestable to the human and social sciences. Just back from the pendulum, this relative forgetfulness has given way to growing attention. This renewed interest is all the more justified because the thought of Polanyi is astonishingly topical. He is indeed the thinker par excellence of the "market society" and of the crisis to which a society is exposed where the logic of the market economy comes to dominate all spheres of human activity. Actually, Polanyi is still by his conception of a radically democratic socialism supposed to fulfill the modern ideal of freedom, by the weight it gives to culture and institutions in the analysis of economic systems, by its multidisciplinary method And by so many other traits which make it a reference today unavoidable in all the social sciences. These texts (mostly unpublished in French) offer a panorama of Polanyi's thought. There are of course keys to accessing the heart of the analysis grid proposed in The Great Transformation, but also a tool bringing together most of Polanyi's contributions to economic anthropology, the comparative study of systems Economics, political philosophy, and the analysis of systems and ideologies that clashed in the twentieth century (socialism, communism, fascism, Nazism).

Karl Polanyi y el Problema De Los Mercados - Colombo, Octavio (Studia historica., 2008)
The purpose of this work is to analyze the Karl Polanyi’s conceptions about the pre-capitalist-markets, especially his revision of the categories of trade, money and market. In first place, we present a critical examination of the fundamental ideas of The Great Transformation, where his later reflections about pre-industrial societies are ground. Using some basic categories of the critique of political economy, we treat to show certain methodological and conceptual limits of his proposal. Then, we analyze the Polanyi’s ideas related to the features of pre-capitalist markets. We conclude that, even when the polanyian categories and reasoning need a deep revision, his merit is to propose a really historical approach about the markets; approach that until now has not received a suitable attention.
Keywords: Great Transformation, The (Book); critique; great transformation; pre-capitalist markets; preindustrial society

IPE and European Integration: Applying Karl Polanyi's 'the Great Transformation' - Copeland, Paul (2008)
European integration is usually studied within the realms of comparative politics. The multitude of empirical studies concerning the topic have been well suited to its numerous methodologies and analytical frameworks. Comparative politics however, usually ignores the question of why European integration has both progressively deepened and widened during the last thirty years. Therefore there is a distinct absence of how developments in the global political economy determine European integration. Such an approach fails to address the issues of power and constraint within the global economy. We would therefore expect the process to be examined within international political economy, yet there has been a relative neglect of European integration within IPE as it considers the process to be a mere regional response to global developments. This paper argues that European integration is a more complex process than IPE has considered and addresses its relative neglect by applying Polanyiâs 'the Great Transformation'. Firstly, this paper argues that existing comparative politics and IPE approaches to European integration have a number of shortcomings which limits their application. Secondly, to address these limitations this paper applies 'the Great Transformation' to European integration and argues there to be strong parallels between Polanyiâs theory and the process. Thirdly, the paper argues that European integration is much more than a simplistic regional response to globalisation. European integration has been a contradictory process oscillating between neoliberalism and the European Social model. This highlights not just the contradictions of European integration, but also what Polanyi termed the âmarket societyâ. ..PAT.-Unpublished Manuscript
Keywords: European integration; comparative government; globalization; international economic relations; international political economy; neoliberalism

Reciprocity, Exchange and Redistribution. An experimental investigation inspired by Karl Polanyi’s The Economy as Instituted Process - Danese, Giuseppe; Mittone, Luigi (MyScienceWork, 2008)
Inspired by Karl Polanyi’s writings on three allocation modes, namely reciprocity, exchange and redistribution, we first tested a reciprocity ring with ten players. The baseline treatment, with no possibility of socialisation, displayed very low levels of allocative efficiency. Consistently with the Polanyian approach to reciprocity, we found that inducing the notion of symmetry among the players increased efficiency levels significantly. We then simulated a market exchange, with significant allocative efficiency gains. We conclude that indirect-reciprocity rings among anonymous players can seldom function in the absence of definite institutional refinements, promoting forms of symmetry-acknowledgement.
Keywords: instituted economic process; reciprocity

L'innovation sociale dans les services d'aide a domicile. Les apports d'une lecture polanyienne et feministe. (With English summary.) - Degavre, Florence; Nyssens, Marthe (Revue Francaise de Socio-economie, 2008)
The aim of this contribution is to analyze the dynamic of social innovation of home-care services. Based on the works of Polanyi which analyse socio-economic dynamics and on feminist theories in the field of care, we develop an original grid of analysis developing criteria to grasp the processes of social innovation and to highlight the peculiarities of gender relationships at stake in these services. We also suggest normative criteria to evaluate the quality of social innovation. We apply this conceptual framework to the empirical field of new home-care services, which have emerged 20 years ago, and provided to elderly dependents in Wallonia.
Keywords: economics of the elderly; economics of the handicapped; feminist economics; health; non-labor market discrimination; non-labour market discrimination; personal, professional, and business services; social innovation

Is Market Liberalization Pathological? Debating the Causes of Corruption in Chinese Banking - Eaton, Sarah (2008)
Neoclassical economists posit that the freeing of market forces will lead, ceteris paribus, to a reduction in levels of corruption. There are several mechanisms through which this hypothesized effect is channeled, the most important of which is competition pressure brought by the entry of foreign firms into the domestic market. The empirical leverage of this approach has been strongly challenged by events of recent years. In China and Russia, market liberalization has not had the expected effects: corruption has exploded alongside market opening. Why? The view among many economists is that the benefits of market opening were stymied by the political logic governing the process of reforms (e.g. cronyism in privatization, trade policy protection of inefficient domestic firms et cetera). The Polanyi-inspired counter-claim is that reform-era corruption is itself an effect of the disembedding of the political economy. My research on corruption in the Chinese banking industry lends empirical insight to the debate. Because the Chinese market is variegated, with some firms being much more exposed to competition than others, there is the opportunity to test these explanatory variables against corruption levels in different segments of the market. On the basis of original fieldwork conducted in China, this paper suggests that the neoclassical economists faith in market opening as an anticorruption mechanism is unwarranted. ..PAT.-Unpublished Manuscript
Keywords: China; banking industry; corruption; disembeddedness; ethics; market liberalization; white collar crimes

Labour and the Transformation of East Asian Capitalism: A Regional View - Gray, Kevin (Conference Papers -- International Studies Association, 2008)
Two of the most salient aspects of the recent shift towards financialisation and neoliberal restructuring since the 1970s have been the restructuring of global production towards China, and the growing threat to workersâ livelihoods posed by increased capital mobility. Both of these trends can be seen as capitalâs response to the crisis of profitability that has arisen from the unsustainable global social accord between workers and capital that was inherent in post-War US hegemony. Transnational manufacturing capital sought ever cheaper sites of cheaper and non-unionised labour, whilst there was at the same time a tendency for capital to withdraw from productive investment altogether and enter the financial market. This paper will seek to explore the implications of these developments for the working classes of East Asia as a region, and will take examine the present transformations from the perspective of Polanyi's depiction of social responses to earlier periods of financialisation. The emergence of China as the 'workshop of the world' has had profound effects on working classes in the rest of East Asia, and have changed the parameters within which political challenges can be mobilized. Similarly, the viability of the recent restructuring of the East Asian regional political economy is highly contingent upon how working class movements develop in China, and whether China can continue to act as a "spatial fix". Through an examination of the empirical evidence on what kind of strategies are being adopted by labour movements within the East Asian countries, the paper will attempt to adopt an explicitly regional view of the transformations of regional capitalism which overcomes the limitations of national-level analyses. ..PAT.-Unpublished Manuscript
Keywords: East Asia; capitalism; economic conditions in East Asia; economic structure; financialization; international economic relations; international trade

The revenge of ideas: Karl Polanyi and Susan Strange - Halliday, Fred (openDemocracy, 2008)
Keywords: STRANGE, Susan

Where Does the Market Come From? Why the Controversy Between Polanyi's "Substantivists" and "Formalist" Neoclassical Protagonists of a Universal Market Was Never Solved" - Heinsohn, Gunnar (Property Economics: Property Rights, Creditor’s Money and the Foundations of the Economy, 2008)
In Property Economics: Property Rights, Creditor’s Money and the Foundations of the Economy - Metropolis-Verlag, 2008.
Keywords: formalist; substantivist

The Space of Rights: On Benjamin, Gramsci, and Polanyi - Holub, Renate (Conference Papers -- International Studies Association, 2008)
For intellectual generations born at the end of the 19th century in Europe, the discourses on rights were to a large measure determined by proponents and detractors of various versions of Marxism. Hence the debates on justice and rights predominantly operated with the conceptual and analytical instruments of European political economy. These debates also were premised on assumptions about the status of the political economy of Europe and North America in the distribution of global space. But the intellectual generations born at the end of the 19th century, and particularly those with interests in the Marxist project -- as Benjamin, Gramsci, and Polanyi were-- were also witnesses to the facts of the Soviet Revolution and its evolution into the Stalinist state. In this paper I will first of all examine the ways in which Walter Benjamin, Antonio Gramsci, and Karl Polanyi elaborated and expanded the concept of transatlantic space inscribed into the Marxist project. I will then investigate to which extent their familiarity with the rights practices of Stalinism impacted their elaboration of new forms of the space of rights: Benjaminâs concept of the historical space of âmessianismâ that transcends the historical limits of the space of rights of historical materialism; Gramsciâs concept of cultural space as a struggle for rights that expands Marxâs terrain of political economy, and Polanyiâs concept of anthropological space that expands the conceptual space of economic analysis of classical Marxism. The purpose of the paper is to gain a measure of understanding of the links that obtain between conceptual apparatuses of leading intellectuals and global transformations in the first half of the twentieth century, particularly since these intellectuals developed their ideas relatively independently from the structures of organized knowledge production of universities and academies. ..PAT.-Unpublished Manuscript
Keywords: BENJAMIN, Walter, 1892-1940; GRAMSCI, Antonio, 1891-1937; communism; human rights; political science

America transformed: globalization, inequality, and power - Hytrek, Gary J.; Zentgraf, Kristine M. (Oxford University Press, Incorporated, 2008)
Globalization--the interconnection of the world culturally, socially, politically, and economically--has generated intense theoretical and practical concerns. Is globalization inevitable? What are the effects of globalization on social structures and individual perceptions? What is the effect of globalization on societal level inequality? America Transformed: Globalization, Inequality, and Power examines these questions by analyzing the links among global processes and shifting patterns of stratification, inequality, and social mobility in the United States. While many texts separate discussions of macro- and micro-level processes when examining globalization, this book skillfully integrates general macro-level processes with specific reference to the micro-level effects of globalization in the U.S. Exploring the critical dimensions of inequality--class, gender, and immigration--America Transformed situates the U.S. experience within the broader global context, and fleshes out the mechanism through which global processes affect social stratification. By examining the social construction of globalization, the authors identify the key policy challenges of globalization, and some of the innovative community-based responses to social inequality.America Transformed provides powerful insights into the contested dialectical relationship between global and local forces: how globalization shapes stratification and inequality in the U.S., and how local communities attempt to mediate those changes.
Keywords: globalization; social classes; social science / sociology / general

Transformations, Then and Now: The Appeal of Karl Polanyi - Karnik, Ajit (Economic and Political Weekly, 2008)
Karl Polanyi's views on the nature of "pre-market" society are influential not only among historians but also among economists concerned with present-day transitional and developing economies. This paper examines Polanyi's arguments about the "Great Transformation" from traditional to market society in the light of recent advances in economic theory and empirical evidence from a range of European and non-European societies. These theoretical and empirical considerations provide little support for Polanyi's views concerning fundamental discontinuities between traditional and market societies. The paper concludes that Polanyi's rosy view of pre-market society provides an inappropriate historical basis for addressing the challenges faced by present-day transitional and developing economies.
Keywords: critique; economic history; market economies; market economy; market mechanism; market mechanisms; money; peasant class; pre-market society; transitional economies

Third Sector, Social Economy, Civil and Solidarity-Based Economy: European Reality and Theoretical Debate | - Laville, Jean-Louis (2008)
This is a book chapter from: The Social Generative Action of the Third Sector – Comparing International Experiences Edited by H. K. Anheier; G. Rossi, L. Boccacin, 2008, Vita e Pensiero, Milano
Keywords: social economy; solidarity economy

Movements of the World Unite! Assessing Prospects for Social Movement Unionism in Canada - MacArthur, Julie (Conference Papers -- International Studies Association, 2008)
Within the field of critical political economy exists a literature urging a re-conceptualization of democracy (Munck 2002, Cox 1997, Webster and Adler 1998). Liberal, particularly neo-liberal, political systems are critiqued for their binary separation of economics and politics leading to substantive disenfranchisement and elitest governance. Robert Cox (1997) has called this âlimited democracyâ and argues that consumer choice and infrequent elections cannot be equated with democratic citizenship. One theorized response to this problem builds on the work of Karl Polanyi (1944) and his concepts of âembeddednessâ and the âdouble movementâ. Democracy can be deepened and strengthened by asserting social control over the economy and society at multiple levels and across issue areas. This is accomplished by a movement of social forces forcing a re-embedding in response to periods of increasing economic and elite consolidation. A problem in this literature has consistently been the agent or agents of change.This paper critically explores the argument that Social Movement Unionism (SMU), the organizational and theoretical blend of trade unionism and social movements, can and may serve as the agent of a Polanyian double movement in Canada. While theorists of SMU argue that labour necessarily needs to branch out laterally as a response to neo-liberal policies, I explore the tensions between âoldâ labour and contemporary social movements in Canada, such as the environmental movement. I ask: to what extent is organized labour taking on issues beyond their narrow collective-bargaining interests? Is there significant personnel overlap between labour and social movement organizations such as environmental, womenâs or anti-war groups? In answering these questions I intend to draw out the tensions between various actors these theories look to for change and assess their relevance in the Canadian context. By bringing together literature on transnational social movements, labour studies, political economy and international relations this paper takes an interdisciplinary approach to understanding these challenges. ..PAT.-Unpublished Manuscript
Keywords: Canada; democracy; economics; elite (social sciences); political science

Polanyi's Double Movement: A Critical Reappraisal - Maertens, Eppo (Social Thought & Research, 2008)
The article offers a critical reappraisal of Karl Polanyi's claim that the restructuring of the economy based on the ideals of the self-regulating market inevitably leads society to reassert itself against the commodification of land, labour and money. Dubbed as the "double movement," the author focuses his reappraisal on the two aspects of the movement. The first refers to the push for free market reforms by various groups in society, and the second refers to the counter-movements that he argues necessarily and spontaneously mobilize against it. In this paper, he argues that the first aspect is an area that deserves further attention, both from those who wish to apply his ideas as well as from those who wish to challenge them.
Keywords: central economic planning; commodification; critique; double movement; dual economy; economic structure; free enterprise; market ideology; markets; public welfare

The Great Transformation: The Political and Economic Origins of Our Time - Meier, Brian (Social Thought & Research, 2008)
The article reviews the book "The Great Transformation: The Political and Economic Origins of Our Time," by Karl Polayni.
Keywords: Great Transformation, The (Book); book review; economics; nonfiction

KARL POLANYI ABOUT INSTITUTED PROCESS OF ECONOMIC DEMOCRATIZATION AND SOCIAL LEARNING - Mendell, Marguerite (PEKEA Newsletter N° 14, April – June 2008 / ResearchGate, 2008)
This text will not focus on The Great Transformation but will deal with previous and following writings from Karl Polanyi where his emphasis is on the constitutive elements that define us as social beings and as agents of social change.
Keywords: Great Transformation, The (Book); economic democratization; education; instituted economic process; social learning

In the Zone: Street Markets and Street Merchants in Socio-Legal Perspective - Morales, Alfonso (Conference Papers -- Law & Society, 2008)
Typically when we think of street markets we think of chaotic places full of energy and vibrating with danger and opportunity. Traders or governments create markets to meet existing and emergent demands as well as the unintended consequences of other policy decisions. It is this institutional design, this governance, this regulatory process that provides access to the market and organizes the vending space therein. Public and private entities operating in fiscally constrained environments should attend to the variety of ways there are to establish and regulate markets. Municipalities typically assume that a detailed management scheme is the best approach to managing access to markets and organizing the distribution of space, the assumption being that chaos would result in the absence of the state. However, this is not necessarily the case, merchants' can self-organize access to space as well as a stable and flexible spatial order, and this self-organization can minimize costs, improve access, and contribute to social goods and goals associated with having a public market.This article provides an empirical justification for this claim by examining the creation of Chicago's Maxwell Street Market (hereafter the Market), and describing the subsequent changes in the regulatory scheme of that Market. This discussion recalls Polanyi's observation that all markets are regulated, one way or another, but that the forms and character of regulation obviously varies -- and thus this article argues the thesis that even in apparently unregulated markets we will find regulation, self-created, that produces a social order, in this case a stable and flexible order that accommodates a variety of private and public circumstances and goals. Our case is Chicago's Maxwell St. Market, which between 1973 and 1994 resembled unfettered capitalism. An ethnically heterogeneous multitude of street entrepreneurs organized vending space with little violence in the absence of stable, state sponsored, legal expectations. But this self-organization is nested in an overall history of unregulated street commerce in the area, starting in the 1870s, followed by the City government's creation and regulation of the Market in 1912, then a period of regulation lasting 60 years, followed by a radical change in the regulatory regime that produced a self-organized Market for about 20 years, then finally the City recaptured the Market and has regulated it again since 1994. Planners and policy makers will find this case interesting for three reasons: first, it is an interesting history of public markets and planning interests, second, the data indicate how an ethnically heterogeneous population can self-produce a flexible and stable social order and third, planners and policy makers concerned with locally appropriate and economically efficient, combinations of government and self-regulation of economic activities might apply lessons from this case to the large and growing interest in public markets around the country. ..PAT.-Unpublished Manuscript
Keywords: government regulation; markets; municipal government; nation-state; policy sciences

Economie et Rationalite: Apports et limites de l'approche polanyienne. (Economics and Rationality: Contributions and Limits of Polanyian Approach. With English summary.) - Postel, Nicola; Sobel, Richard (Cahiers d'Economie Politique, 2008)
Polanyi analyzes the historical deployment of a "formal" economic science starting from the triptych "market-rarety-instrumental rationality". It reveals this triptych, and the knowledge which is devoted to it, as being a part of a question broader than should analyze a "substantial" economic science being interested in the triptych "need-nature-institution". If we can and must follow Polanyi in his criticism of economism suited to the first triptytic, we have more reserve to accept his solution of substitution, an heterogeneous mixture of naturalism and institutionalism, of essentialism and historicism. The thesis defended in the article is that it is necessary to be more Polanyian that Polanyi himself, and to develop an economy of the practical reason, base of an economic science reintroduced inside social sciences.
Keywords: criticism of economism; formal economy; general economics

Third Way Labor Law Reform in Chile - Rosado Marzan, Cesar F. (Conference Papers -- Law & Society, 2008)
Latin America is currently undergoing Karl Polanyi's "double movement" at full swing, as most governments of the region are currently experimenting with policies that defy the neoliberal orthodoxy that has been reigning there for almost three decades. One of such governments has been the center-left Concertación governments of Chile, which have been elected since the restoration of democracy in 1990. In addition to poverty alleviation programs, Concertación has been in an ongoing process of reforming the country's labor laws, attempting to restore some of the labor rights existing prior to the 1973 coup, as well as creating new rights and institutions. The labor inspectorate has been strengthened and reformed under the framework of "Latin" systems of labor inspections, which are pedagogical rather than punitive in orientation. Labor courts are also being radically bolstered, providing workers with a renewed legal avenue to enforce their rights. Although the reforms fall short of full restoration of trade union rights, namely national collective bargaining, they do point to a clear break with the "stateless" regulatory, neoliberal model that Chile was once associated with and provide symbolic and intellectual fodder for further reforms in the country and beyond. ..PAT.-Unpublished Manuscript
Keywords: Chile; Latin America; labor laws & legislation; labour laws & legislation; law reform; mixed economy

Karl Polanyi, le marché et le socialisme - Skornicki (2008)
La société est-elle condamnée à subir les lois du marché ? La publication d'Essais inédits de l'économiste Karl Polanyi permet de redécouvrir le (...)
Keywords: capitalisme; fascisme; marché; socialisme

Group Affiliation and Market Embeddedness in American Enterprise - Valdez, Zulema (Conference Papers -- American Sociological Association, 2008)
In this article, Polanyi's (1944) notion of society as constituted by three forms of economic integration (market exchange, reciprocity, and redistribution) is applied to entrepreneurship. In advanced capitalism, the market-exchange relationship is the dominant form of economic integration; secondary relationships of reciprocity and redistribution, however, co-exist alongside relations of market exchange. Following Polanyi (1944), this article introduces an "embedded market" approach to enterprise. The embedded market approach considers the differential effects of primary and secondary relationships on entrepreneurial outcomes. The traditional ethnic entrepreneurship paradigm suggests that resource mobilization based on ethnic group membership is essential for entrepreneurial success, as measured by participation and earnings. The embedded market approach reconsiders ethnic group membership, along with other politically-influenced human social groupings (e.g. class, gender, nativity, and race) as non-essential relationships of reciprocity. In this conception, group affiliation provides the basis for compensatory relief from market uncertainty in the form of social capital. Ultimately, the embedded market approach provides a systematic and comprehensive approach to understanding the role of group affiliation in facilitating ethnic and "non-ethnic" enterprise in America.
Keywords: Latino/a Sociology; United States; class and gender; commercial policy; entrepreneurship; ethnic entrepreneurship; inequality; international economic integration; new business enterprises; race

Double Movement in China - Wang, Shaoguang (Economic and Political Weekly, 2008)
This paper traces China's move towards a market economy in the mid-1980s, the near triumph of market forces in the 1990s, and the countermovement this engendered as inequalities between the rich and poor increased and social security networks collapsed. It focuses on the country's regional and healthcare policies to illustrate how it has dealt with issues of inequality and insecurity over time. The prevailing view now is that the market is necessary but it must be embedded in society. And the state must play an active role in the market economy to prevent a disembedded and self-regulating market economy from dominating society.
Keywords: China; double movement; market economy

Charismatic Economies: Pentecostalism, Economic Restructuring, and Social Reproduction - Barker, Isabelle V. (New Political Science, 2007)
Pentecostalism is one of the world's fastest growing religions, expanding most quickly in Latin America, sub-Saharan Africa, and parts of Asia. To make sense of this expansion in so many developing regions, I suggest that Pentecostalism fosters norms and behaviors that harmonize with neoliberal economic restructuring. I frame this theoretically with Polanyi's notion of double movement. In our current era of weakened state governance vis-à-vis neoliberal trade and fiscal policy, non-state sites of reaction have emerged. Pentecostalism is one such site, and, in contrast with Polanyi's example, I suggest that Pentecostalism has embedded the self-regulated aspects of neoliberal capitalism. I make this argument by using the feminist political economy theorization of social reproduction to interpret a number of empirical studies of Pentecostalism. Pentecostalism addresses dilemmas of social reproduction engendered by neoliberalism, and so may be said to embed this form of economic organization in human social life in a way that reinforces neoliberal capitalism.
Keywords: Pentecostalism; capitalism; double movement; economic systems; economics; neoliberalism; social interaction; social reproduction; social structure; socialization