Acerca del renovado interés por Karl Polanyi - Subirats, Joan (Sobre o interesse renovado de Karl Polanyi., 2014)
¿Cómo es posible que un libro escrito hace setenta años despierte hoy un renovado interés y que sirva para hacer mejores diagnósticos sobre la crisis económica y sus posibles alternativas? En este texto trataremos de dar respuesta a este interrogante, mostrando los elementos que hacen de la obra de Polanyi un buen punto de partida para observar la crisis de legitimidad política y los problemas de relación entre economía de mercado y sistema político. La crítica de Polanyi a la naturalización de la economía de mercado es hoy plenamente actual. (Spanish)
Keywords: bens comuns; bienes comunes; capitalismo; crises econômica; crisis económica; economia de mercado; economía de mercado; relaciones estado y sociedad; relações de estado e sociedade

The Rise and Fall of Ireland's Celtic Tiger: Liberalism, Boom and Bust - Ó Riain, Seán (Cambridge University Press, 2014)
In 2008 Ireland experienced one of the most dramatic economic crises of any economy in the world. It remains at the heart of the international crisis, sitting uneasily between the US and European economies. Not long ago, however, Ireland was celebrated as an example of successful market-led globalisation and economic growth. How can we explain the Irish crisis? What does it tell us about the causes of the international crisis? How should we rethink our understanding of contemporary economies and the workings of economic liberalism based on the Irish experience? This book combines economic sociology and comparative political economy to analyse the causes, dynamics and implications of Ireland's economic 'boom to bust'. It examines the interplay between the financial system, European integration and Irish national politics to show how financial speculation overwhelmed the economic and social development of the 1990s 'Celtic Tiger'.
Keywords: business & economics; economic conditions; economic development; economic history; economic policy; liberalism; political science; public policy

Le don fondateur du lien social, le cas de l'économie de marché - Lasida, Elena (Transversalités, 2014)
Le don et l’échange marchand sont généralement opposés. Pourtant, l’un et l’autre apparaissent comme fondateurs du lien social dans la mesure où l’on prend en compte la relation qu’ils créent au niveau interindividuel et collectif. Le don apparaît ainsi associé à une certaine forme de réciprocité et le marché à une certaine forme de gratuité., Gift and commodity exchange are generally opposed. But both appear as founders of the social bond when we consider the relationship they create between people and in society. The gift is thus associated with some form of reciprocity and the market with some form of gratuitousness.
Keywords: don; lien social; marché; relation; réciprocité; valeur; économie; économie sociale et solidaire

Sociology as a vocation: Moral commitment and scientific imagination - Burawoy, Michael (Current Sociology, 2014)
Public sociology and the sacrifices it entails, richly described in the case studies in this monograph, are driven by moral commitment. This is one element of sociology as a vocation. The other element is sociology as a science. The case studies are built on an embryonic sociology of commodification, understood in its historical dimensions and its global consequences. This sociology of commodification examines the disasters created by third-wave marketization and the bleak future for human existence, thereby, fueling the original moral commitment of public sociology.
Keywords: countermovement; double movement; fictitious commodities; marketization; public sociology

Marketisation, public services and the city: the potential for Polanyian counter movements - Warner, Mildred E.; Clifton, Judith (Cambridge Journal of Regions, Economy and Society, 2014)
Marketisation of urban service delivery gained renewed intensity in the crisis. Mobilising Polanyi’s concept of double movement, we analyse how marketisation of public services both creates and constrains the potential for urban counter movements in the USA and Europe. We identify three main urban responses: ‘hollowing out’, where cities engage in service cut backs; ‘riding the wave’, where cities attempt to harness the market; and ‘push backs’, where cities and citizen movements oppose marketisation. Although the city is constrained by marketisation at national and international levels, we find evidence of push back and, in it, the potential for public service alternatives.
Keywords: city; crisis; double movement; marketisation; public services; urban studies

Karl Polanyi in Vienna - Dale, Gareth (Historical Materialism, 2014)
In this article I discuss Polanyi's intellectual formation in early twentieth-century Budapest and in 1920s Vienna, focusing in particular upon his relationship to Guild Socialist and Marxist theory and to Austrian Social Democracy. It was a period in which Marxism was evolving rapidly, and Polanyi was too. In his twenties, he reacted forcefully against what he saw as the evolutionary and deterministic traits of Marxist philosophy. In his thirties, his relationship to Marxism underwent a 'double movement': his long-held doubts about Marxism crystallised into an forceful critique, swiftly followed by a sympathetic dialogue with the ideas and politics of Austro-Marxism, the 'Rousseauian' commitments of which were not unlike his own. I examine Polanyi's relationship with Marxism in each of these phases, and explore the affinities between Guild Socialism and Austro-Marxism. The final section introduces the distinctly un-Polanyian analysis of Austrian Social Democracy offered by Polanyi's wife, Ilona Duczynska.
Keywords: 20th century; Austria; Austro; Austro-Marxist school; DUCZYNSKA, Ilona; Hungary; Marxism; Marxist philosophy; ROUSSEAU, Jean-Jacques; Vienna (Austria); biography; communism; determinism; functional theory; guild socialism; history; intellectual life; social democracy

The Double Movement of Immovable Property Rights in Papua New Guinea - Filer, Colin (Journal of Pacific History, 2014)
Papua New Guinea (PNG) is one of many countries around the world where the relationship between customary land tenure and economic development has been hotly debated for a long time. A commonplace of the debate in PNG is that 97% of the nation's land is held under customary tenure, while only 3% has been alienated, and these proportions have not changed since the country became independent in 1975. This paper shows that the boundary between customary and alienated forms of land or immovable property was already showing signs of instability in the late colonial period, and this instability has been greatly magnified in the post-colonial period. The areas of land subject to some form of partial alienation have increased along with the ways and means by which immovable property has been ‘mobilised’, while a variety of customary claims to previously alienated areas have grown stronger over the same period. Although Karl Polanyi's idea of a ‘double movement’ can throw some light on this phenomenon, the PNG case also reveals a new side to the application of this concept.
Keywords: Papua New Guinea; agriculture; forestry; forests and forestry; land tenure; mineral industries; mining; politics and government; property rights

Innis and Polanyi: The Search for the Substantive Economy - Rotstein, Abraham (Journal of Economic Issues; Abingdon, 2014)
Economics and the economy have an uneasy relationship. Economics is akin to the logic of mathematics in contrast to the term "economy," which is an institutional framework to provide for material wants. While they overlap in the modern market economy, economics provides distorted results when applied to tribal societies, the economies of antiquity, or modern state-organized economies. Harold A. Innis and Karl Polanyi both attempted to find a different conceptual framework for a truly general economic history. [PUBLICATION ABSTRACT]
Keywords: INNIS, Harold; business & economics - economic systems and theories; economic history; substantiveness; supply and demand

The Global Development Crisis - Selwyn, Benjamin (John Wiley & Sons, 2014)
The central paradox of the contemporary world is the simultaneous presence of wealth on an unprecedented scale, and mass poverty. Liberal theory explains the relationship between capitalism and poverty as one based around the dichotomy of inclusion (into capitalism) vs exclusion (from capitalism). Within this discourse, the global capitalist system is portrayed as a sphere of economic dynamism and as a source of developmental opportunities for less developed countries and their populations. Development policy should, therefore, seek to integrate the poor into the global capitalist system. The Global Development Crisis challenges this way of thinking. Through an interrogation of some of the most important political economists of the last two centuries Friedrich List, Karl Marx, Leon Trotsky, Joseph Schumpeter, Alexander Gerschenkron, Karl Polanyi and Amarta Sen, Selwyn argues that class relations are the central cause of poverty and inequality, within and between countries. In contrast to much development thinking, which portrays ‘the poor’ as reliant upon benign assistance, this book advocates the concept of labour-centred development. Here ‘the poor’ are the global labouring classes, and their own collective actions and struggles constitute the basis of an alternative form of non-elitist, bottom-up human development.
Keywords: business & economics / development; economic development; embedded markets; political science / public policy / general; socialism

Neo-pluralist political science, economic sociology and the conceptual foundations of the comparative capitalisms literatures - Bruff, Ian; Hartmann, Eva (Capital & Class, 2014)
In this paper, we critically assess two of the key conceptual foundations for the comparative capitalisms (CC) literatures, neo-pluralist political science and economic sociology, in order to identify more clearly the deep intellectual roots of these literatures. Principally, we focus on how the strengths of neo-pluralism and economic sociology – their attention to detail in considering the huge range of ‘types’ of capitalism that exist across the world – come at a high price. Put briefly, the redefinition of ‘capitalism’ as ‘the economy’ concentrates research agendas on the specific political and social conditions found across the world, leaving ‘the economy’ relatively untouched. In consequence, ‘capitalist diversity’ is quickly, and often silently, equated to ‘political diversity’ or ‘social diversity’. As such, a key weakness of CC scholarship, identified by various authors in this Capital & Class special issue – that it does not provide a satisfactory theoretical understanding of capitalist societies – is a problem that runs deeper than the limitations that can be observed in contemporary debates. The implications of our argument are discussed in the conclusion.
Keywords: capitalism; capitalist diversity; comparative capitalisms; economic sociology; neo-pluralism; political economy

The Debate on Globalization and International Revitalization of Labor. A Critical Review - Fleming, Daniel; Søborg, Henrik (Nordic Journal of Working Life Studies, 2014)
This article discusses some alternative or critical theoretical contributions regarding globalization and labor. The main question in this discussion is if there are changes in direction of a possible revitalization of labor movements and if international solidarity can increase due to globalization. This question also relates to discussions of changes in division of work, the concept of work, working class, commodification, decommodification, and new centers of global production--all related to different paradigms or new concepts. The reason or need for reconceptualizing comes from the great transformation of capitalism in forms of neoliberal globalization, in a different direction than predicted by Polanyi. That is, instead of increased public sector decommodification (not profit- or market-oriented production) and national regulation, embedding capitalist markets, as seen after 1945, the last three decades have witnessed a countertransformation and large-scale recommodification by privatizing, disembedding, and deregulating global markets. As a consequence, inequality in income and working life conditions has increased in most countries and been used to press trade unions. Western industrial unions have been declining as many industries and labor-intensive, low-paid jobs moved to developing countries. Most blue-collar jobs are now in Asia, especially China, with about one-third of its employment blue collars. Is the center of global capital-labor contradictions and dynamics moving to the South, with a possibility of a new revitalization of labor and international solidarity? We discuss different optimistic and pessimistic views on a possible international revitalization of labor.
Keywords: commodification; decommodification; globalization; income distribution; international solidarity; knowledge workers; labor organizing; labour organizing; occupational citizenship; precariat; revitalization of labor; skill capture; work environment; working class; working class concept

Radical, reformist, and garden-variety neoliberal: coming to terms with urban agriculture's contradictions - McClintock, Nathan (Local Environment, 2014)
For many activists and scholars, urban agriculture in the Global North has become synonymous with sustainable food systems, standing in opposition to the dominant industrial agri-food system. At the same time, critical social scientists increasingly argue that urban agriculture programmes, by filling the void left by the “rolling back” of the social safety net, underwrite neoliberalisation. I argue that such contradictions are central to urban agriculture. Drawing on existing literature and fieldwork in Oakland, CA, I explain how urban agriculture arises from a protective counter-movement, while at the same time entrenching the neoliberal organisation of contemporary urban political economies through its entanglement with multiple processes of neoliberalisation. By focusing on one function or the other, however, rather than understanding such contradictions as internal and inherent, we risk undermining urban agriculture's transformative potential. Coming to terms with its internal contradictions can help activists, policy-makers and practitioners better position urban agriculture within coordinated efforts for structural change, one of many means to an end rather than an end unto itself.
Keywords: United States; agricultural sociology; alternative food networks; community gardens; food production; food security; neoliberalism; urban agriculture; urban farming; urban studies

Group learning as relational economic activity - Saito, Eisuke; Atencio, Matthew (Educational Review, 2014)
The purpose of this paper is to discuss group learning in line with economic perspectives of embeddedness and integration emanating from the work of Karl Polanyi. Polanyi’s work defines economy as a necessary interaction among human beings for survival; the economy is considered inextricably linked from broader society and social relations rather than autonomous and driven by self-interest in free market conditions. He specifically outlines three key forms of integration that are crucial to economic stability, involving the notions of reciprocity, redistribution, and exchange. These patterns of integration are described as key elements that co-mingle within and structure contemporary group learning within classrooms.
Keywords: collaborative learning; cooperative learning; economic activity; education; embeddedness; embeddedness (socioeconomic theory); group learning; group work in education; reciprocity (commerce); social integration

The Legacy of Karl Polanyi: Market, State and Society at the End of the Twentieth Century - Mendell, Marguerite; Salée, Daniel (Palgrave Macmillan UK, 2014)
The Great Transformation by Karl Polanyi, written in 1944, is a twentieth-century classic. It presents a passionate critique of the inhumanity of liberal capitalism, an inhumanity which, Polanyi thought, could never be repeated. The social and political institutions developed in the post-War period not only protected society from the cruelty of the self-regulating market, but were essential to enable the market itself to function. The history of the market, Polanyi tells us, is a history of regulation.
Keywords: Great Transformation, The (Book); business & economics; economic theory; regulation

Género y cuidados: respuestas sociales e institucionales al surgimiento de la sociedad de mercado en el contexto europeo - Carbonell Esteller, Montserrat; Gálvez Muñoz, Lina; Rodríguez Modroño, Paula (GENDER AND CARE: SOCIAL AND INSTITUTIONAL ANSWERS TO THE DEVELOPMENT OF THE MARKET ECONOMY IN EUROPE., 2014)
This article examines from a care approach the social and institutional responses to the development of the market economy in the European context. Studying this long period -which Polanyi called the double movement- is relevant because it constitutes the historical process by which the interests of the market, the logic of profits and its social and scientific naturalization come to dominate. Since then, the importance of care work in people's life, the reproduction of the labour force, and the provision of welfare and social insurance have been ignored. Until very recently, historical analyses have focused on the emergence of the Welfare State, regardless of how the state's answers interacted or modeled with other spheres of welfare provision, especially the family through women's unpaid work. The article focuses on the European experience and the period analyzed comprehends the disintegration of communal and assistance care with the Old Regime Crisis, the development of charity and associations as solutions to the inhibition of the Liberal State in the 19th century -solutions that were limited and insufficient, leading to the state assumption of the care and assistance functions, embryo of the development of later Welfare States after World War II. (English)
Keywords: capitalismo liberal; care; cuidados; estados del bienestar; gender; género; liberal capitalism; modelos asistenciales pre-industriales; pre-industrial mutual aid regimes; welfare state

Actualidad de la crítica de Karl Polanyi a la sociedad de mercados - Maya Ambía, Carlos Javier (Política y Cultura, 2014)
Karl Polanyi's critique of market society is a very powerful tool for understanding our current social reality. It helps us to formulate a creative and purposeful proposal that contributes to build a just, equitable, and more humane society, that would be committed to the future life on the planet. A comparison between the society criticized by Polanyi and ours, leads us to discover the validity of his basic concepts and his method for the preparation of a new critical discourse that not only takes advantage of the legacy of the author, but also expands, clarifies and updates it. (English)
Keywords: crítica social; doble movimiento; double movement; market society; mercado autorregulado; self-regulated market; social critique; sociedad de mercado

Bez zmian na „zielonej wyspie”? Kryzys ekonomiczny w polskich badaniach socjologicznych - Mrozowicki, Adam (Whither Green Island? The Global Economic crisis in Polish sociological research., 2014)
The article presents selected aspects of the discussion about the conditions and consequences of global economic crisis in Polish sociology. The author argues that the relatively limited debate on the nature of the current crisis can be explained by two factors. Firstly, it is the consequence of the dominance of modernisation paradigm in the analysis of the Polish social transformation as well as the marginalisation of two sociologies: critical labour sociology and economic sociology. Secondly, drawing on research carried out by the author on working- class life strategies in the 2000s, the limited debate is the outcome of social "normalisation" and "adaptation" to crisis experiences in the Polish society. Despite the symptoms of collective "demobilisation" in the face of successive crises, adaptation to crises has its social limits. The discourse of global economic crisis contributes to new forms of collective mobilisation in the sphere of work and politics regardless of the dominance of individualistic coping strategies inherited from the first decades of transformation. The "counter-movement" taking place in Poland is expressed in trade union radicalisation and mobilisation of radical-nationalist movements. Both processes are interpreted by the author with the reference to Karl Polanyi's work as the manifestations of self-defence of the society against the expansion of socially uncontrolled market mechanisms.
Keywords: economic crisis; neoliberalism; sociology; the myth of the market

Three Shades of Embeddedness, State Capitalism as the Informal Economy, Emic Notions of the Anti-Market, and Counterfeit Garments in the Mauritian Export Processing Zone - Neveling, Patrick (Research in Economic Anthropology, 2014)
Purpose -- This paper furthers the analysis of patterns regulating capi-talist accumulation based on a historical anthropology of economic activ-ities revolving around and within the Mauritian Export Processing Zone (EPZ). Design/methodology/approach -- This paper uses fieldwork in Mauritius to interrogate and critique two important concepts in contemporary social theory -- "embeddedness" and "the informal economy." These are viewed in the wider frame of social anthropology's engagement with (neoliberal) capitalism. Findings -- A process-oriented revision of Polanyi's work on embedded-ness and the "double movement" is proposed to help us situate EPZs within ongoing power struggles found throughout the history of capital-ism. This helps us to challenge the notion of economic informality as supplied by Hart and others. Social implications -- Scholars and policymakers have tended to see eco-nomic informality as a force from below, able to disrupt the legal-rational nature of capitalism as practiced from on high. Similarly, there is a view that a precapitalist embeddedness, a "human economy," has many good things to offer. However, this paper shows that the practices of the state and multinational capitalism, in EPZs and elsewhere, exactly match the practices that are envisioned as the cure to the pitfalls of capitalism. Value of the paper -- Setting aside the formal-informal distinction in favor of a process-oriented analysis of embeddedness allows us better to understand the shifting struggles among the state, capital, and labor.
Keywords: Mauritius; capitalism; economic anthropology; embeddedness; embeddedness (socioeconomic theory); ethnohistory; export processing zones; informal sector (economics); neoliberalism

Los conceptos más importantes en el trabajo de Karl Polanyi y su relevancia contemporánea - Polanyi Levitt, Kari (Economía y Desarrollo, 2014)
El artículo se centra en la vida y obra del historiador Karl Polanyi, quien escribió el libro "La Gran Transformación", en 2014 y también discute la investigación realizada sobre la vida económica de las sociedades primitivas por Polanyi.
Keywords: Great Transformation, The (Book); primitive societies

The Polanyian Perspective Meets the Varieties of Capitalism: Inspecting the Consequences of the Institutional Changes in South Korea since 1997 - Šitera, Daniel (Perspectives: Central European Review of International Affairs, 2014)
This article attempts to combine the Polanyian perspective on the issue of market societies with an the analysis of the institutional foundations of capitalism that is facilitated by the Varieties of Capitalism(VoC) approach. The article departs fromthe argument that the VoC school has upgraded our insight into the institutional working ofmodern capitalism, but became entrapped in an overt structuralismwhich considers institutional change as just an interplaywithin a self-odering institutional structure.However, the article employs Karl Polanyi's doublemovement, the dialectic of marketizing dis-embedding and socializing re-embedding, to demonstrate that the institutional changemust be rather conceived as embedded in a social life. Only then can one recognize considers that such a change is primarily conditioned by social contests among sentient agents which engage in an ideational struggle over its final outcome. These theoretical reconsiderations are tested on the empirical terrain of Korean capitalism after the Asian Crisis of 1997 and the Global Crisis of 2007. First, the double movement is used to demonstrate that the post-crises institutional changes have transformed Korean capitalism's institutional and societal model from developmentalism to embedded neoliberalism. Second, it is documented that this transformation has been characteristic of certain ideational struggles which turned into a socially contested, largely contradictory, uneven, and open-ended process.
Keywords: Asia; POLANYI, Karl, 1886-1964; South Korea; capitalism; developmentalism (economics); double movement; financial crises; global financial crisis, 2008-2009; international affairs; neoliberalism; varieties of capitalism

Crisis del modelo neoliberal, hacia una planificación regional. Un aporte polanyiano - Valderrama Saud,, Paula (Crisis of the Neoliberal Model; Towards Regional Planning - a Polanyian Contribution., 2014)
Using Karl Polanyi's analytical instrument, I argue that the current withdrawal of the industrialized powers and the emergence of alternative policies in Latin America are determined by the crisis of the neoliberal model. The polarity between democracy and the market, observed since the beginnings of liberal capitalism, has deepened since the inter-war period due to the appearance of so-called "mass democracy." Since that period, foreign policies of industrialized countries have derived from social conflict caused by this polarity. Current neoliberalism, which favors the limitation of democracy in favor of the self-regulating global market, is a system that contains inherent contradictions on financial and socio-political levels. These contradictions are the cause of the current crisis in the United States and the European Union, a crisis that favors the beginning of a new era characterized by greater regional planning and a plurality of development paths. (English)
Keywords: European Union; Latin America; crisis; democracia; democracy; globalization; government policy; market; mercado; neoliberalism; neoliberalismo; planificación regional; regional planning

Embedding Trade Liberalisation in Social Policy: A Research Agenda on Social Regionalism and the Global South [article] - Ashiagbor, Diamond (Northern Ireland Legal Quarterly, 2014)
Underpinning this article is the proposition that regional integration with a social dimension has the potential to engender a more equitable pattern of globalisation. The empirical focus of the article is on the ex)tent to which the insights of 'embedded liberalism' associated with regional economic integration between he industrialised nations of the European Union (EU)can be applied to regional economic integration within sub-SaharanAfrica. The article contends that EU market liberalisation has been embedded within labour market institutions and institutions of social citizenship at the domestic level. These have served as social stabilisers to counter the far-reaching effects of the internal market and global trade. Less industrialised nations have never enjoyed adjustment mechanisms of this sort, raising the question for this article, and for further research: in which legal and institutional structures can these nascent forms of market integration at regional and sub-regional level be embedded? In examining the interaction between trade liberalisation and labour standards, I draw on the work of Karl Polanyi. Central to his key work, The GreatTransformation,is the assertion that all economies are enmeshed in non-economic institutions, although the forms and depth of this social embedding may differ. Drawing on Polanyi, I argue that laissez-faire economic liberalism may be offset by principles of social protection at national and, in some instances, regional level - a 'counter-movement' to the economic insecurity arising from globalisation.
Keywords: United Kingdom; social regionism; trade liberalisation

The Pyrrhic Triumph of Finance Capital and the Return of Polanyi - Harrison, Trevor W. (Athens Journal of Social Sciences, 2014)
This paper examines the declining support for centrist parties in many western countries. Using the seminal ideas of Karl Polanyi, the paper argues this decline is attributable to the rise of neo-liberal free market policies that have resulted in widespread insecurity and led many voters to seek out political alternatives on the right and left. The paper further examines possible reasons why parties of the right, rather than the left, have been more successful at this historical juncture in channeling political disenchantment.
Keywords: countermovement; fascism; finance capital; neoliberalism

A global theory of justice for new governance : from process to substance with 'parity of participation' - Hermann, Martin (2014)
This thesis proposes a new counter-narrative to the neo-liberal agenda that combines two seemingly disparate bodies of work: New Governance and Nancy Fraser’s theory of justice. New Governance is a new and rapidly growing strand of legal thought and practi ce that has simultaneously developed a following in Europe and the United States. In short, legal scholars in this field of research are advocating a shift away from long-standing command-style, fixed-rule regulation toward more collaborative, bottom-up, and flexible modes of regulation.
Keywords: FRASER, Nancy; neoliberal hegemony; new governance

From the Apocalypse to the Revolution - Pellicani, Luciano (Telos, 2014)
The article discusses the emergence of millennialism, which is considered as one of the outcomes of the spiritual victory of Christianity over the Greco-Roman culture. The formulation of the historical-sociological category of cultural catastrophe by Hungarian economic historian Karl Polanyi is tackled. The presence of a divine messenger as one of the three elements of a messianic movement is cited. The concepts of revolutionarism, Jacobinism and Marxism are also addressed.
Keywords: Christianity; POLANYI, Karl, 1886-1964; communism; critical theory; cultural catastrophe; messianism; millennialism

Kari Polanyi: Nine Decades of Scientific and Militant Life - Rioux, Michele (Revue interventions economiques/Papers in Political Economy, 2014)
Keywords: biography; history of economic thought: individuals

The Renewal of a Critical Theory of Capitalism and Crisis – A Comment on Nancy Fraser’s Interpretation of Polanyi’s works - Deutsche Digitale Bibliothek - Sparsam,, J.; Eversberg, D.; Haubner, T.; Mader, D.; Muraca, B.; Hanno, P. (Working Paper 7/2014 of the DFG-Kollegforscher_innengruppe Postwachstumsgesellschfaten., 2014)
The paper examines Nancy Fraser’s Polanyian reading of the current capitalist crisis and her expansion of Polanyi’s notion of the ‘double movement’–social forces struggling for marketization and social protection– into a ‘triple movement’ by adding the struggle for emancipation as a third factor. In its first part, the paper reviews Fraser’s central arguments with a special focus on her reading of Polanyi’s idea of the “fictitious commodities” land, labor, and money. Second, the authors examine Fraser’s conceptualization of social forces, domination and emancipation drawing on Environmental Philosophy, Political Ecology, Marxism, Feminism, Social Philosophy as well as Polanyi himself. In the end, the paper argues that Fraser’s conception of capitalism and emancipation are in need of improvement if critical theory wants to adequately grasp the current crisis of capitalism.
Keywords: FRASER, Nancy; fictitious commodities; interpretation; triple movement

Reflections on the civil war in the period of the ideologies (1929-1939). Carl Schmitt and Karl Polanyi - Visone, Tommaso (Giornale di Storia Costituzionale, 2014)
The aim of this paper is to discuss the concept of civil war during the Thirties (1929-1939). To this purpose, the work analyses the development of the Civil War discourse in the thought of Carl Schmitt and Karl Polanyi, trying to focalize on the relationship between its consequences on the civil war and the conflicting ideologies which characterised that period. Hence, the Civil war is described, through these different narrations, showing two different sides of modernity: the destructive and dangerous one on the one hand, and the transformative and soteriological on the other.
Keywords: 1930s; SCHMITT, Carl; civil war; ideology

The double movement and new labor market regulations in Korea, Japan, and Taiwan - Yun, Ji-Whan (A comparative study of East Asian capitalism, 2014)
Keywords: Japan; Korea; Taiwan; consolidation; diverging paths; double movement; dual labour markets; economics; labour; labour market reforms; politics and government; systemic change

L'économie solidaire en Bolivie. Entre marché et démocratie - Hillenkamp, Isabelle (KARTHALA Editions, 2013)
Depuis les années 1980, de plus en plus de pays ont opté pour une économie de marché et un régime politique de type démocratique et ce, indépendamment de leur « niveau de développement ». Pourtant, marché et démocratie ne sont pas directement compatibles. Si tous deux reposent sur les principes de liberté et d’égalité, le premier mise sur le pouvoir émancipateur du marché libre, alors que la seconde suppose une certaine égalité des conditions de vie. Une lecture croisée de cas européens et latino-américains illustre cette problématique commune, en même temps que la diversité des systèmes de médiations solidaires entre marché et démocratie. Les solidarités, qu’elles soient enracinées dans des structures familiales ou communautaires, instituées dans des systèmes de protection sociale ou organisées dans des groupes de producteurs ou de consommateurs de l’économie solidaire, créent en effet des interdépendances qui amortissent les tensions entre marché et démocratie. En développant cette analyse socioéconomique, Isabelle Hillenkamp propose une approche novatrice des questions de développement. Par des données récoltées auprès d’organisations d’économie solidaire et de nombreux autres acteurs en Bolivie, elle apporte des réponses ancrées dans la complexité d’un terrain de recherche. Isabelle Hillenkamp est titulaire d’un doctorat en études du développement de l’Institut de hautes études internationales et du développement, à Genève. A partir d’enquêtes en Amérique latine, ses travaux portent sur l’économie populaire et solidaire, qu’elle aborde dans une perspective socioéconomique, attentive aux liens entre pratiques économiques et rapports sociaux. Elle est chargée de recherche à l’Institut de recherche pour le développement, en France. Table des matières Introduction, L’économie solidaire en Bolivie, Entre marché et démocratie, Du pluralisme économique à la démocratisation I. Solidarité, marché et démocratie : une problématique européenne et latino-américaine II. Les organisations boliviennes d’économie solidaire : réciprocité et redistribution III. Les organisations boliviennes d’économie solidaire face aux marchés IV. Réciprocité, marché et démocratie : des tensions fondamentales V. La démocratisation de l’économie Ils en ont parlé Présentation du livre dans L'AGEFI, quotidien de l'Agence économique et financière à Genève Critique du livre sur le site Alterinfos, América Latina ENG translation: Since the 1980s, more and more countries have opted for a market economy and a democratic-type political regime, irrespective of their "level of development". Yet market and democracy are not directly compatible. If both are based on the principles of liberty and equality, the first is the emancipatory power of the free market, while the latter assumes a certain equality of living conditions. A cross-reading of European and Latin American cases illustrates this common problem, together with the diversity of solidarity-based mediation systems between market and democracy. Solidarity, whether rooted in family or community structures, instituted in social protection systems or organized in groups of producers or consumers of the solidarity economy, creates interdependencies that dampen tensions between the market and democracy. In developing this socioeconomic analysis, Isabelle Hillenkamp proposes an innovative approach to development issues. Through data collected from organizations of solidarity economy and many other actors in Bolivia, it brings answers anchored in the complexity of a field of research. Isabelle Hillenkamp holds a Ph.D. in Development Studies from the Graduate Institute of International and Development Studies in Geneva. Based on surveys in Latin America, her work focuses on the popular and solidarity economy, which she addresses in a socio-economic perspective, attentive to the links between economic practices and social relations. She is a researcher at the Research Institute for Development in France. Table of Contents Introduction, Solidarity Economy in Bolivia, Between Market and Democracy, From Economic Pluralism to Democratization I. Solidarity, Market and Democracy: A European and Latin American Issue II. Bolivian organizations of solidarity economy: reciprocity and redistribution III. Bolivian organizations of solidarity-based economy versus markets IV. Reciprocity, market and democracy: fundamental tensions V. The democratization of the economy They talked about it Presentation of the book in the AGEFI, the daily newspaper of the Economic and Financial Agency in Geneva Book review on the website Alterinfos, América Latina
Keywords: Bolivia; solidarity economy

Ideen und Interessen. Zum Verhältnis von Religion und wirtschaftlicher Entwicklung - Deutschmann, Christoph (Ideas and interests. On religion and economic development, 2013)
While concentrating on the rise of modern capitalism, Weber’s seminal studies have little to say about the impact of religions on contemporary economic development. The paper comments about recent approaches to find an answer to the questions Weber left open. If one disregards a priori constructions of culturalist and rational-choice-theories, these approaches end up again in restating the circular relationship between ideas and interests showed already by Weber, albeit clearly with a higher emphasis on interests. However, the author argues that it would be premature to interpret this result simply as a confirmation of Weber’s “disenchantment” thesis. Rather, it goes back to the transformation of the economy itself into an entity that preaches “values”, proclaims “visions” and in this sense develops an affinity to religious movements. The author deepens this view by referring to Marx’ and Polanyi’s interpretation of capitalism as a system of disembedded markets. The disembedding of markets gives rise to a historically new potential of social uncertainty which the actors need to cope with, thereby developing symbolisms showing striking affinities with religious forms. Nevertheless, the analogies between capitalism and religion are limited. (English)
Keywords: Entgrenzung; Institutionen; Kontingenz; Märkte; Säkularisierung; WEBER, Max, 1864-1920; Werte; capitalism; capitalism - religious aspects; consumption (economics); contingency; disembedding; economic aspects; economic development; institutions; markets; philosophy; religion; religion and sociology; religious aspects; secularization; values

The Mystery of Capital or the Mystification of Capital? - Obeng-Odoom, Franklin (Review of Social Economy, 2013)
In contemporary political economic analyses of development processes, Hernando De Soto'sThe Mystery of Capital, has been one of the most discussed, albeit controversial, books. Although well received by global development agencies such as the World Bank, a key exponent of De Soto's work, positing that the creation and institutionalisation of individual property in housing and land revives “dead capital” and creates the conditions that will enable the poor to emerge from abject poverty, has been widely criticised. These criticisms show that (1) the thesis is flawed, (2) the flaw is due to implementational problems and (3) the practical implications arising from the thesis are largely neutral and will neither improve nor worsen poverty. Although agreeing with the first criticism, this paper argues that the second critique must be nuanced, and the third is entirely mistaken. Utilising insights from Joseph Schumpeter, Karl Polanyi and Henry George, it makes the case that applying De Soto's ideas through policy would be ineffective in curbing urban poverty, and actually serve to simultaneously entrench and augment it. Moreover, while finding that De Soto's assumption that the poor possess some economic agency is sound and may, indeed, secure socially beneficial outcomes through pursuing innovative and entrepreneurial endeavours, De Soto's conception of such processes remains largely emasculated from broader political economic considerations.
Keywords: dead capital; economic research; fictitious commodities; fictitious commodity; political economic analysis; poverty; progress amid poverty; property; social innovation

Indigenous Development and the Cultural Captivity of Entrepreneurship - Peredo, Ana María; McLean, Murdith (Business & Society, 2013)
This article argues that thinking about entrepreneurship as a potential instrument for relief from endemic poverty and disadvantage, especially among the Indigenous, has all too often been captive to a concept of entrepreneurship that is built out of constrained economic and cultural assumptions. The authors develop this argument from a critical discussion of contributions by Karl Polanyi and Robert Heilbroner. The result is that approaches to venture have been encouraged that are sometimes a poor fit for the circumstances of those they are meant to benefit, and other forms that could have considerable promise have gone unexplored. This article outlines some features of Indigenous culture and build on the analysis of David Harper to construct an improved notion of entrepreneurship that allows for these distinctive features. The article concludes that research and policy making concerning entrepreneurship as an instrument of development among the Indigenous need to be undertaken with this reconstructed understanding of entrepreneurship that is a better fit for the realities of Indigenous culture.
Keywords: HEILBRONER, Robert; Indigenous development; Indigenous peoples; POLANYI, Karl, 1886-1964; cultural diversity; entrepreneurship; entrepreneurship and culture; poverty

From Economy to Society: Perspectives on Transnational Risk Regulation - Lange, Bettina; Thomas, Dania; Sarat, Austin (Emerald Group Publishing, 2013)
This special issue asks what role society can play in the regulation of transnational risks, as an alternative to or at least significant addition to reliance on state regulatory activity and the myth of the self-regulatory capacity of markets (Stiglitz, 2001, p. xiii). How can a social sphere contribute to the prevention and management of risks, often transnational in nature, posed by economic activity? Leading socio-legal scholars explore whether and how the idea of harnessing the regulatory capacity of a social sphere provides a new analytical lens that can provide fresh insights into transnational risk regulation, and whether this idea helps to identify innovative approaches to regulating transnational risks. KM - Parts I and II theoretically equgage specifically with Polanyi, and apply and develop Polanyian ideas.
Keywords: administrative law & regulatory practice; commercial law; comparative law; embeddedness; emotions; international law; international trade law; risk; self-regulating market

Transforming Capitalism: The Triple Crisis - Kirby, Peadar (Irish Journal of Sociology, 2013)
This article identifies a triple crisis of capitalism based on the three fictitious commodities as identified by Karl Polanyi: labour, money and land. This framework is used to integrate the environmental crisis into the wider crisis of capitalism. It argues that international actions required to reduce greenhouse gas emissions are going to present major challenges for capitalism with implications for the current dominance of market power and the subservience of state and social power. The article critically examines the potential of climate capitalism to achieve a low-carbon society by 2050 and introduces the need to face the challenges of degrowth.
Keywords: climate capitalism; climate change; de-growth; degrowth; development models; fictitious commodities; sustainability

The political economy of public sector trade union militancy under Keynesianism: The case of local government - Gill-McLure, Whyeda (Capital & Class, 2013)
Public service labour’s distinctiveness is insufficiently understood or recognised; and in its ad hoc growth under liberal ideologies of state intervention (those of Mill and Keynes), it has been treated both as if it were and were not public service labour. This paper teases out some of the crucial links between liberal ideologies of state intervention and the social praxis of public service unionism, outlining the latter’s historical struggle against this paradoxical treatment, which culminated in 1970s militancy. The paper supports this argument with a Marxist analysis of public sector labour, drawing on Polanyi’s ‘double-movement’ to understand the limitations of liberal ideologies of state intervention.
Keywords: Marxist analysis; civil service; distinctiveness of public service labour; double movement; ideology; labor process; labour process; liberalism; political economy; public sector union militancy

Capitalism: restless and unbounded? Some neo-Polanyian and Schumpeterian reflections - Harvey, Mark; McMeekin, Andrew (Economics of Innovation & New Technology, 2013)
This paper first explores the notion that the limitlessness of knowledge is a privileged source of the restlessness of capitalism [Metcalfe, J. S. 2001. “Institutions and Progress.”Industrial and Corporate Change10 (3): 561–586; 2002. “Knowledge of Growth and Growth of Knowledge.”Journal of Evolutionary Economics12 (1): 3–13; 2004. “The Entrepreneur and the Style of Modern Economies.”Journal of Evolutionary Economics14 (2): 157–175; 2010. “University and Business Relations: Connecting the Knowledge Economy.”Minerva48 (1): 5–33] when combined with incentives of entrepreneurialism in a market society. Metcalfe gives a central paradigm of evolutionary economics a distinctive turn, with knowledge the pre-eminent source of variation, and markets the primary arena of selection. The paper engages this approach with a neo-Polanyian approach of ‘instituted economic process’, in which the variation and selection dynamic is itself seen as instituted within a particular historical economic context. The paper develops a critique of the evolutionary paradigm firstly by suggesting variations in instituted ‘economies of knowledge’ within a multi-modal conception of capitalism. Further breaking with the bipolar variation-selection paradigm, the paper argues that there has been a significant role of the state as a distinctive source of variation and selection in innovation and economic transformation. This leads us finally to analyse the shifting place of economy in society and polity, and the strategic responses in the USA, Brazil and Europe to the historically novel conjuncture of peak oil and global climate change, as a further source of variation. We conclude that a choice between evolutionary and historical approaches to innovation and economic transformation is a false one, once a universalising and unbounded paradigm of variation and selection is abandoned.
Keywords: SCHUMPETER, Joseph Alois, 1883-1950; capitalism; economic development; entrepreneurship; evolution; evolutionary economics; instituted economic process; mixed economy; multi-modality; organizational change; variation and selection

Polanyi in the Pilbara - Peck, Jamie (Australian Geographer, 2013)
This paper outlines a ‘substantivist’ approach to the regional economy of the Pilbara in Western Australia, inspired by a constructive reinterpretation of Karl Polanyi's methodological legacy. Beyond the metaphor of embeddedness, it makes the case for a more wide-ranging methodological engagement with Polanyi's brand of substantivist socioeconomics, in dialogue with the empirical investigation of actually existing and variegated socioeconomic formations. A Polanyian optic, amongst other things, calls attention to enduring sources of heterogeneity in this distinctive regional-economic formation, even under the hegemonies extractive capitalism and neoliberal developmentalism.
Keywords: Aboriginal economies; economic geography; mining; the Pilbara

Union Campaigns as Countermovements: Mobilizing Immigrant Workers in France and the United Kingdom - Tapia, Maite; Turner, Lowell (British Journal of Industrial Relations, 2013)
In this article, we compare recent innovative union campaigns: the ‘sans papiers’ campaign in France and the ‘Justice for Cleaners’ campaign in the United Kingdom, both based on a sustained grass-roots mobilization of immigrant workers. Rather than focusing on the ‘usual suspect’ explanatory factors, such as contrasting national settings, union power structures or traditions, our cross-national comparison highlights important underlying similarities in unions' strategic responses to a growing precarious immigrant workforce. In the absence of established channels of representation, both unions decided to act like social movements fighting for social protection. Using Polanyi's framework, we view both case studies as examples of countermovements against heightened levels of global liberalization and precarious employment.
Keywords: comparative labour; countermovement; human resources; international labour; unions

Housing Projects for Low-Income Groups and Modes of Economic Integration: A Comparative Study in Greater Cairo - Abouelmagd, Doaa; Kesteloot, Christian; Corijn, Eric (Tijdschrift voor Economische en Sociale Geografie (Journal of Economic & Social Geography), 2013)
The housing of low-income groups in Greater Cairo has always been difficult. However, the general shortage in housing supply is contrasting with the low occupancy rate of newly constructed public housing units. In contrast, despite their bad living conditions, informal settlements have a high occupancy rate. In order to analyse the reasons behind this contradiction, the paper compares four neighbourhoods ranging from formal and semi-informal to informal housing production and including one rehabilitation project. The livelihood conditions in each settlement are unravelled with the concept of modes of economic integration from Polanyi. For this purpose, semi-structured interviews were conducted and analysed with correspondence analysis. The findings indicate a preference among low-income groups for informal settlements because of three reasons: the advantages of geographical location, the nature of social networks and the strength of private redistribution systems, thus enabling an easier access to means of existence. The results and recommendations are further discussed in the paper.
Keywords: Egypt; Greater Cairo; housing rehabilitation; informal settlements; livelihood; living conditions; low-income housing; modes of economic integration; occupancy rates; poor people; public housing; redistribution; squatter settlements

The Politics of Dispossession: Theorizing India’s “Land Wars” - Levien, Michael (Politics & Society, 2013)
While struggles over land dispossession have recently proliferated across the developing world and become particularly significant in India, this paper argues that existing theories of political agency do not capture the specificity of the politics of dispossession. Based on two years of ethnographic research on anti-dispossession movements across rural India, the paper argues that the dispossession of land creates a specific kind of politics, distinct not just from labor politics, but also from various other forms of peasant politics that have been theorized in the social sciences. It illustrates how the process of land dispossession itself shapes the targets, strategy and tactics, organization, social composition, goals, and ideologies of anti-dispossession struggles. It concludes with reflections on why land conflicts are less easily institutionalized than labor conflicts and may therefore constitute a significantly disruptive force in the emerging centers of global capitalism for the foreseeable future.
Keywords: India; accumulation by dispossession; agrarian change; agriculture; capitalism; eviction; land grabs; peasant politics; peasants; property rights; social movements

Responding to the crisis: food co-operatives and the solidarity economy in Greece - Rakopoulos, Theodoros (Anthropology Southern Africa (Anthropology Southern Africa), 2013)
This article discusses a case of popular social response to imposed austerity and recession in Greece. It focuses on the anti-middleman movement in an Athens suburb. It also addresses the broader picture of the current Greek crisis, explaining how participants in this grassroots response extend their activity beyond food distribution, beginning to imagine modes of economic conduct and interaction different from those currently dominant in Greece. I explore their efforts to turn the food market they have established in Athens into a formal co-operative which links consumers in their neighbourhood directly to selected farmers through bonds of solidarity, and to work with others to create a network of similar co-operatives which will span the whole country. I argue that their endeavours strongly resemble the co-operativism and practical socialism advocated by important social theorists such as Mauss and Polanyi, and suggest that it may be important for the young activists in Athens to learn more about their ideas.
Keywords: Greece; Greek crisis; MAUSS, Marcel, 1872-1950; anthropological research; anti-middleman movements; economic development; financial crises; financial crisis; food co-operatives; food industry; horizontal co-operative networks; recessions; solidarity economy; sovereign debt crisis

Towards a human economy: reflections on a new project - Sharp, John (Anthropology Southern Africa (Anthropology Southern Africa), 2013)
The University of Pretoria's Human Economy project began at the end of 2010. To date it has involved eighteen post-doctoral fellows, drawn from around the world, and eight doctoral candidates, all from Africa. This paper reviews the project's progress, drawing attention to how its participants have come to construe the notion of a 'human economy' and the main social theorists on whom they have drawn in doing so. The development of our thinking regarding a human economy is explained by reference to the two edited volumes, comprising contributions from all the post-doctoral fellows, which will be published in the near future. Challenges for future research are considered in the final part of the paper.
Keywords: MAUSS, Marcel, 1872-1950; South Africa; University of Pretoria; doctoral degree; economic development; human economy; market exchange; mutuality; plural economy; reform; revolution; social development; social sciences

From the Great Transformation to the Great Financialization: On Karl Polanyi and Other Essays - Polanyi Levitt, Kari (Zed Books, 2013)
Four years into the unfolding of the most serious crisis since the 1930s, Karl Polanyi's prediction of the fateful consequences of unleashing the destructive power of unregulated market capitalism on peoples, nations, and the natural environment have assumed new urgency and relevance. Polanyi's insistence that 'the self-regulating market' must be made subordinate to democracy otherwise society itself may be put at risk is as true today as it was when Polanyi wrote. Written from the unique perspective of his daughter, From the Great Transformation to the Great Financialization is an essential contribution to our understanding of the evolution and contemporary significance of Karl Polanyi's work, and should be read against the background of the accelerating accumulation of global finance that created a series of financial crises in Latin America, Russia, Asia, and, eventually, the heartlands of capitalism itself.
Keywords: HAYEK, Friedrich A. von (Friedrich August), 1899-1992; Latin America; business & economics; economic conditions; economic development; economic history; global financial crisis; political economy; political science

Cosmologies and Regionalisms from ‘Above’ and ‘Below’ in the post-cold war Americas: the Relevance of Karl Polanyi for the 21st century - Roncallo, Alejandra (Third World Quarterly, 2013)
Drawing on a Polanyian analysis of the land question, this article aims to analyse both Western and Indigenous cosmologies of Abya Yala—the name that indigenous peoples give to the American continent—to understand the relationship between human beings and land and nature. These cosmologies are at the heart of the way in which two distinct societies construct their regional space, one from ‘above’, the other from ‘below’, and they are therefore key to understanding today’s climate change problématique. Following this nexus it is argued that, since the end of the Cold War, a new regional ‘double-movement’, unleashed by the quest for land and natural resources has been in the making. This is a superstructural or legal battle between Western transnational regime-making and a law that originated at the ‘centre of the Earth’. The article explains both regionalisms and the dialectical interaction between them and demonstrates that Karl Polanyi’s legacy remains relevant for the 21st century.
Keywords: climate change; cosmologies; double movement; indigenous land question

Polanyi in an Hourglass: The Two Lives of a Sociological Classic - Frerichs, Sabine (Studies in Law, Politics & Society, 2013)
This article aims to show that studies of transnational risk regulation can benefit from Polanyian and neo-Polanyian research agendas in the field of law, economy, and society. Risk regulation would then be under-stood as a corrective force within the market society. Drawing on the relevant literature in the field, Karl Polanyi's work is contextualized both in the past ("scholarship before and beside Polanyi") and in the present ("scholarship after and beyond Polanyi"). The review considers developments within sociology, its neighboring disciplines economics and jurisprudence, and the interdisciplinary research fields of "economy and society," "law and society," and "law and economy." The article demon-strates that Polanyi is a "late classic" who shares the holistic orientation of classical historical scholarship. At the same time, it is argued that his "early revival" is due to the topicality of his criticism of the market society, and its inherent risks, in an era of neoliberalism and globaliza-tion. By going back and forth in time, the article situates Polanyi in a line of holistically minded scholarship that combines insights of general, economic, and legal sociology in what can be called the "economic sociol-ogy of law." This is "old" and "new," at the same time.
Keywords: classical sociology; contemporary sociology; economic sociology; economic sociology of law; general review; interdisciplanary research; law and economics; market society; neoliberalism; risk regulation; sociological research

After a Romantic Aspiration to Society: Harnessing the Regulatory Capacity of a Social Sphere - Lange, Bettina (Studies in Law, Politics & Society, 2013)
This introduction unpacks the key question that informs the articles in this special issue. How does a social sphere inform regulation and, more specifically, how can the regulatory capacity of a social sphere be har-nessed, as an alternative or significant complementary force to state reg-ulation and reliance on the self-regulatory capacity of markets? This question is salient and topical also in light of the search for new regula-tory strategies and perspectives in the aftermath of the 2007 financial and subsequent EU sovereign debt crises, which have led to a major rea-lignment of economy and society in a number of countries. This introduction argues that economic sociology is a crucial reference point for understanding more about the social practices that constitute business behavior. It enables to explore the scope and significance of often interlinked social and legal norms for regulating various transna-tional risks that economic activity can give rise to. The introduction therefore locates the quest for understanding more about the regulatory capacity of a social sphere in debates that draw on Karl Polanyi's analy-sis of the embedding, disembedding, and re-embedding of economic activ-ity into social norms. The introduction highlights one of the key themes developed in this special issue, the idea of society within economy which questions an assumed conceptual distinction between economy and society. This introduction concludes by specifying how the accounts of risk regu-lation developed in this special issue chart a path that is different from recent explorations of the role of a social sphere in regulation, which were conducted under the banner of "the sociological citizen," "regula-tory sociability," and "collaborative governance."
Keywords: European Sovereign Debt Crisis, 2009-; European Union; crisis; economic sociology; economic sociology of law; financial crisis; international business enterprises; regulation; social sphere; socio-legal studies; state regulation; transnational risk

From Polanyi to Discourse Theory - Lange, Bettina (Studies in Law, Politics & Society, 2013)
This article starts from the assumption that economic sociology, including Karl Polanyi's work, can contribute fresh perspectives to regulation debates because it opens up new understandings of the nature of economic activity, a key target of legal regulation. In particular this article examines Polanyi's idea that society drives regulation. For Polanyi the "regulatory counter-movement" is society's response to the disembedding -- in particular through the proliferation of markets -- of economic out of social relationships. Section One of the article identifies three key chal-lenges that arise from this Polanyian take on regulation for contempor-ary regulation researchers. First, Polanyi focuses on social norms restraining business behavior, but neglects social norms embedded in law as also shaping regulation. Second, he seems to imply a clear-cut concep-tual distinction between "economy" and "society." Third, his analysis sidelines the role of interest politics in the development of regulation. Addressing the first of these three key challenges, Section Two of this article therefore argues that a Polanyian vision of "socialized" legal reg-ulation should build on contemporary accounts of responsive law and reg-ulation, which focus attention on social norms informing legal regulation. Section Three of this article tackles the second key challenge raised by Polanyi's work for contemporary regulation researchers, that is, how to transcend a modernist perspective of "economy" and "society" as clearly demarcated, distinct fields of social action. It argues that discourse the-ory is an important alternative theoretical resource. Drawing on Laclau and Mouffe, the article suggests that understanding "economy" and "society" as performed by open and relationally constructed discourses helps to capture interconnections between "economy" and "society" that become particularly visible when we analyze how specific regulatory regimes work at a medium- and small-scale level. These points are further brought to life in Section Four through a discussion of the European Union (EU) regulatory regime for trade in risky, transgenic agricultural products, and in particular the current reform debates about the consideration of the "socioeconomic impacts" of such products.
Keywords: European Union; European Union regulation; discourse theory; economic sociology; embeddedness; embedding theorems; responsive regulation; socio-economic impacts; socioeconomics; transgenic agricultural products

A Systems Theory Perspective on Polanyi's Great Transformation: The Case of Financial Derivative Contracts - Paterson, John (Studies in Law, Politics & Society, 2013)
Whereas much of the renewed interest in Polanyi's Great Transform-ation speculates that the rebalancing of economy and society he foresaw might now be emerging in the context of the financial crisis, the systems theory perspective adopted in this article concludes that there are good reasons to believe that such a shift may be no closer. From an examina-tion of credit default swaps and corporate bonds, the article suggests that finance may best be understood as an internally differentiated subsystem of the economy and thus perhaps peculiarly proof against efforts to exert control over it. Concluding that Polanyi's analysis lacks the conceptual tools to cope with contemporary conditions when compared to systems theory, the article nevertheless suggests that his approach may usefully be extended by adding a fourth fictitious commodity - risk -- to the familiar trio of land, labor, and money.
Keywords: POLANYI, Karl, 1886-1964; contracts; corporate bonds; derivatives; economic aspects; economic sociology; economy; markets; prices; society; swaps (finance); systems theory

Trust and Regulation: Insights from the Mining Industry - Schiavi, Petrina (Studies in Law, Politics & Society, 2013)
This article develops Polanyi's (2001) theme of harnessing the regula-tory capacity of a social sphere by focusing on trust as an emotion for framing risk regulatory regimes. Using the global mining sector as its focus, it explores the role of trust in the regulation and corporate man-agement of social and environmental risk Sociological perspectives on trust are employed to identify and analyze dynamics of trust in the mining industry. The article draws on data col-lected between 2004 and 2008 by way of participant observation, docu-ment analysis, and in-depth qualitative interviews with around 40 representatives of the mining industry, NGOs, and regulators. Trust-rela-tionships are an example of harnessing the regulatory capacity of a social sphere, but they can also undermine regulatory effort where trust is abused. The effectiveness of trust-based regulation would be enhanced by sanctions for nonperformance that target corporate motivations and financial performance. This research focused on a selection of large, multinational mining corporations with a presence in Australia. Generalizations could not be made from this research about smaller mining entities or single-country or state-owned corporations. A better understanding of corporate trust-building behaviors and motiva-tions can help inform more effective regulatory strategy for improving corporate, social, and environmental impacts. This article contributes to the body of knowledge about the regulation of the social and environmen-tal performance of the mining industry. This is important as many of the remaining accessible mineral deposits across the globe are in areas of environmental and social significance.
Keywords: POLANYI, Karl, 1886-1964; corporate responsibility; delegated legislation; environmental risk assessment; financial risk; mineral industries; mining industry; regulation; risk; social responsibility of business; trust

Sovereign Debt Restructuring in the Eurozone: A Polanyian Reading of Private Law Enforcement - Thomas, Dania (Studies in Law, Politics & Society, 2013)
The social protests ort the streets of indebted sovereigns in crises across the Eurozone have made debt restructuring an imperative. Further delay in achieving this expeditiously and equitably significantly exacerbates the social costs of crises from which current and future generations will struggle to recover. This article examines the feasibility of the drastic and widespread debt restructuring needed to resolve the problem in the face of existing private law sanctions that protect individual creditor rights. It relies on an analysis of US policy in the transition to a securi-tized market and of key sovereign debt cases to reveal the historical con-tingency of private law protections. It concludes by showing that the effectiveness of private law protections have always been constrained by the overriding imperative to achieve debt sustainability with negotiated and consensual workouts. This can be achieved in the Eurozone with stat-utory constraints on enforcement action pending the settlement of debt workouts as suggested in a recent proposal.
Keywords: European Sovereign Debt Crisis, 2009-; Eurozone crisis; Eurozone debt crisis; POLANYI, Karl, 1886-1964; US debt litigation; civil law; contingency theory (management); international finance; private law enforcement; securitization; sovereign bond contracts; sustainability

"Etiquette and Magic": Between Embedding and Embedded Corporate Social Responsibility - Voiculescu, Aurora (Studies in Law, Politics & Society, 2013)
This article looks at corporate social responsibility (CSR) as a discur-sive social practice that attempts to interrogate the global market econ-omy and its neoliberal underpinnings and that reflects as well as frames and shapes domestic and global politics and institutions. Drawing upon Karl Polanyi's notions of reciprocity and redistribution while also emphasizing the normative content of the concept, the article inquires into the position that the CSR discourse occupies in addressing the cor-porate transnational risks derived from social tensions and conflicts and more generally, in answering social expectations for justice. The Polanyian perspective highlights the CSR discursive quest for a missing conceptual consistency and implicitly, for a constructive "critical" core. From this perspective, the article shows CSR to reside within controver-sial conceptual boundaries; a discursive social practice that engages with the social aspiration of embedding market economy in society while it is also in need of reclaiming its critical core and its potential for social change.
Keywords: civil economy; corporate social responsibility; embedding theorems; neoliberalism; reciprocity (commerce); reciprocity and redistribution; social change; social embeddedness; social responsibility of business; socio-legal studies

How Markets Work: The Lawyer's Version - Weidemaier, W. Mark C.; Gulati, Mitu (Studies in Law, Politics & Society, 2013)
This article combines two sources of data to shed light on the nature of transactional legal work. The first consists of stories about contracts that circulate among elite transactional lawyers. The stories portray law-yers as ineffective market actors who are uninterested in designing super-ior contracts, who follow rather than lead industry standards, and who depend on governments and other outside actors to spur innovation and correct mistakes. We juxtapose these stories against a dataset of sover-eign bond contracts produced by these same lawyers. While the stories suggest that lawyers do not compete or design innovative contracts, their contracts suggest the contrary. The contracts, in fact, are consistent with a market narrative in which lawyers engage in substantial innovation despite constraints inherent in sovereign debt legal work. Why would lawyers favor stories that paint them in a negative light and deny them a potent role as market actors? We conclude with some conjectures as to why this might be so.
Keywords: POLANYI, Karl, 1886-1964; contracts; international finance; lawyers; lead industry; socioeconomics; sovereign debt; transactional marketing

Polanyi's Magnum Opus ? Assessing the Application of the Counter-Movement in International Political Economy - Worth, Owen (International History Review, 2013)
The concept of the ‘counter-movement’ has had a significant impact within studies in International Political Economy (IPE). In the light of the credit crisis and the growth of growing resentment to the notion of the free market, the idea of the counter-movement has been utilised to understand social reaction to neoliberalism. This article argues that whilst the counter-movement has been used in unique and innovated ways, Karl Polanyi himself used the term largely to refer to a specific period in nineteenth-century British history. This article argues that whilst the counter-movement remains interesting, its application remains open to scrutiny. It questions whether the concept was indeed central to Polanyian economic thought and how much can be given to it in today's contemporary era of neoliberalism. It also suggests that by focusing merely on the counter-movement, Polanyian accounts within IPE are in danger of ignoring much of his wider critique of market economics.
Keywords: capitalism; countermovement; economic policy; equilibrium (economics); foreign investments; free enterprise; international economic relations; international political economy; neoliberalism

Is Environmental Management Really More Collaborative? A Comparative Analysis of Putative ‘Paradigm Shifts’ in Europe, Australia, and the United States - Benson, David; Jordan, Andrew; Smith, Laurence (Environment and Planning A, 2013)
It is a truism that environmental management has experienced a significant change in the locus of governing, in which centralised forms of steering have been gradually replaced by more collaborative management approaches organised at the ecosystem scale. Whereas much research capital has been expended on informing their design and promoting their uptake, surprisingly little systematic comparative empirical research exists on the precise nature and extent of what is often described as a ‘paradigm shift’ in governing. We address this gap by examining how one issue often deemed to require deeper ‘collaboration’, namely, catchment management, has been addressed in three comparable federal political systems: the European Union; the USA; and Australia. On the basis of a fresh and more comparable account of the forms and modalities of collaboration, we reveal that, although collaboration has undoubtedly grown in recent decades, its depth and extent remains highly variable both across and within the three cases. We also examine what these subtly different geographical ‘contours of collaboration’ imply for future research and practice.
Keywords: catchment management; central control; collaboration; environmental science; federalism; governance; neoliberalism; paradigm shift

From Neoliberalism to Pluralism: A Response to Mulheirn and Jacobs - Finlayson, Alan (The Political Quarterly, 2013)
This essay puts into context the debate between Michael Jacobs and Ian Mulheirn, exploring the theories and themes underpinning their arguments, published in issue 84 1 of the Political Quarterly. It discusses, firstly, the roots of Mulheirn's approach in European neoliberalism and, secondly, the roots of Jacobs' approach in a range of sources currently contending for authority over debates within the Labour party. These include themes drawn, broadly, from Polanyi, Keynes, Schumpeter and Schumacher. In a conclusion the article makes the case for a ‘pluralistic’ to the organisation of political and economic power in the UK.
Keywords: neoliberalism; pluralism; political economy; social market

Turning Financial Markets inside Out: Polanyi, Performativity and Disembeddedness - Muellerleile, Chris (Environment and Planning A, 2013)
In light of the spread of markets across the globe and deeper into daily life, this paper argues for a more robust analysis and application of Karl Polanyi's conception of (dis)embedded markets coupled with the performativity thesis authored mainly by Michel Callon. It suggests that while disembeddedness as a concept is necessary for an analysis of contemporary financial markets that are increasingly self-referential, it is not sufficient. Despite the suggestion of a gulf between Polanyian and Callonian economics, there are important similarities in the two frameworks. The similarities are considered along with the considerable difference, all in an attempt to develop a more robust methodological framework for analyzing financial markets. Performativity, it is argued, can help fill the gaps in Polanyi's embeddedness framework, albeit only when that concept's tendency to produce aspatial and apolitical arguments are taken seriously. The paper uses an abbreviated case study of the development of US financial derivative markets in the 1970s and 1980s to argue that markets must be considered in light of both their institutional and geographic entanglements as well as their (dis)embeddedness in systems of calculativeness and mathematical modeling. Specifically the paper analyzes the tension between the derivative origin story authored by Donald MacKenzie, which focuses on neoclassical pricing models like the Black—Scholes—Merton option pricing formula, and my own empirical research, which suggests the urban-economic geography of Chicago played a key role in the development of these instruments.
Keywords: Black—Scholes; CALLON, Michel; Chicago; disembeddedness; economic geography; embeddedness; financial derivatives; markets; performativity; urban geography

Disembedding Polanyi: Exploring Polanyian Economic Geographies - Peck, Jamie (Environment and Planning A, 2013)
The paper provides an introduction to a theme issue devoted to the influence—and the potential—of the work of Karl Polanyi in the field of economic geography. Polanyi has been an inspirational figure in the heterodox field of ‘socioeconomics’, where the inseparability of the economic and the social is taken to be axiomatic. He has also made recurrent appearances in economic geography since the early 1990s, as a progenitor of the ‘networks and embeddedness’ approach and in his role as a prescient critic of market fundamentalism. But the potential of Polanyian approaches in economic geography has only been fitfully explored. In this context, the contributions to this theme issue make the case for a more sustained—but also open, critical, and creative—engagement with Polanyi's legacy.
Keywords: economic geography; embeddedness

For Polanyian Economic Geographies - Peck, Jamie (Environment and Planning A, 2013)
Karl Polanyi has been an influential but also somewhat elusive figure in economic geography. Best known for his evocative notion of social embeddedness, it is perhaps fitting that Polanyi's presence has been more metaphorical than substantive. The paper asks what a more engaged Polanyian economic geography might look like. Focusing on methodological affinities, a response is developed in terms of a commitment to the substantivist (as opposed to formal) analysis of actually existing economic formations, together with a more purposive embrace of institutionalism, holism, and comparativism.
Keywords: comparative economy; economic geography; institutionalism; substantivism

Living without Fruit Flies: Biosecuring Horticulture and its Markets - Phillips, Catherine (Environment and Planning A, 2013)
In this paper, informed by more-than-human and biosecurity literatures, I attend a neglected nonhuman considered a serious agricultural pest: the fruit fly. In addressing what it takes to live without fruit flies, biosecurity is theorised as ongoing, enacted achievement sustained (or not) by everyday and eventful interactions of heterogeneous spaces, strategies, and participants—human and nonhuman. Relations of fruits, flies, and people are explored through one vital attempt to biosecure life: Australia's Fruit Fly Exclusion Zone (FFEZ), a tristate pest-free area established to protect commercial horticulture from the fruit fly. Fruit flies become problematised as their appetites and mobilities confound fruit production and marketing, and affiliated biosecurity controls. Making fruit safe enrolls policy and agricultural sectors, but also more dispersed agents (travellers, residents, trees) and management sites (primarily off-farm). Since its introduction, the FFEZ's ongoing biosecuring normalised, with only occasional outbreak events. However, recent unprecedented outbreaks evoke questions about the FFEZ's future status. In such eventful times, it is worth reflecting on what kinds of living are possible in biosecurity zones—for flies, for resident human communities, and for agrifood networks.
Keywords: Australia; Queensland fruit fly; agriculture; biosecurity; more-than-human

Men and Things: Karl Polanyi, Primitive Accumulation, and Their Relevance to a Radical Green Political Economy - Prudham, Scott (Environment and Planning A, 2013)
Now is an important moment to be thinking and talking about a critical and normative green political economy. Whether via attempts to develop effective and socially just climate policies at multiple scales of governance [including REDD (reducing emissions from deforestation and degradation) schemes], or to develop proliferating and controversial neoliberal instruments for dealing with undesirable environmental change, environmental governance, and environmental change in the context of contemporary global capitalism are on the agenda. What would a critical and normative green political economy for the current moment look like? This paper draws on Karl Polanyi's The Great Transformation as a resource for answering that question. In particular, Polanyi's discussion of problematic and dualistic notions of nature and society in early political economy and the role he accords social struggles over land in developing his theory of fictitious commodities, embeddedness and the double movement are revisited. The paper stresses how Polanyi's ideas, at once conceptual and polemical, draw centrally on Marx's theorization of primitive accumulation as an inherent, ‘extra-economic’ facet of historical—geographical capitalism, a differentiated unity linking the commodification and objectification of human and nonhuman natures as exchange-values. In this respect, Polanyi offers (or seems to offer) a potential reconciliation of a politics of nonhuman and human nature through his emphasis on primitive accumulation as a site of both political struggle and epistemic transformation.
Keywords: Karl Polanyi; economism; green political economy; primitive accumulation

Institutional Mobility and Mutation in the Global Capitalist System: A Neo-Polanyian Analysis of a Transnational Cotton Standards War, 1870–1945 - Quark, Amy A. (Environment and Planning A, 2013)
This paper explores the dynamics of institutional change in periods of instability in the global capitalist system. Two recent bodies of literature—actor-centered institutionalism and the ‘policy mobilities’ approach—emphasize how contextual and historical specificities drive transformation as institutions move across space. However, scholars in both traditions give less attention to the systematic patterns of social conflict that influence how policies move and mutate. Drawing on the case of a standards war in the global cotton trade from 1870 to 1945, I build on these literatures by linking them to a neo-Polanyian theory of social conflict within periods of market-led development. From this view, we must understand institutions, their mobilities, and mutations as constituted by and constitutive of struggles over how the global capitalist system should be organized and in whose interests. This requires building on, but also deepening Polanyi's analysis. While Polanyi emphasized the destructive effects of liberal market projects that generate social conflict, the ‘push-backs’ against liberal market projects are more diverse than Polanyi suggested, and social conflict can also emerge out of the creative moments of liberal market expansion.
Keywords: cotton; double movement; history; interfirm competition; interstate competition; market expansion; standards

Marketization beyond Neoliberalization: A Neo-Polanyian Perspective on China's Transition to a Market Economy - Zhang, Jun (Environment and Planning A, 2013)
This paper proposes a neo-Polanyian framework of neoliberalization-as-marketization for understanding geohistorically embedded marketization based on five interlinked theoretical conceptualizations: embedded marketization, hybrid integration, double movement, active society, and qualitative state. I argue that this framework can be useful to supplement existing theorizing of neoliberalism, and to facilitate comparative case studies across vastly differently contexts. This framework is then taken to analyze China's post-Mao transition to a market economy. I argue that China's gradualist transition from a centrally planned economy to a mixed economy has been maneuvered by a self-regulating party-state (dis)embedded in a deactivated (active) society. Due to the existence of multiple veto players and intraparty ‘double movement’, the marketization was able to be mostly socially progressive until 1993. However, it was no longer the case when the ‘socialist market economy’ was enshrined and, without political liberalization, the Chinese version of neoliberalization has become even bleaker than elsewhere.
Keywords: China; double movement; marketization; neo-Polanyian; neoliberalization

The boundaries of cosmopolitanism: Karl Polanyi and the 'Magyar-Jewish mongrel' - Dale, Gareth (Environment & Planning A, 2013)
The author offers his opinion on Hungarian historian Karl Polanyi and the views Karl expressed in a series of letters he sent to his brother Michael Polanyi. In these letters Karl wrote about the Germans attitude towards other Jews and the developing volatile social environment in Budapest, Hungary at the beginning of the 20th Century. He also wrote on the animosity between the Germans and the Jews.
Keywords: Baltic States; Germans; Jews; POLANYI, Michael, 1891-1976; biography; cosmopolitanism; history; social development

Pi̇yasa: Adam Smith Versus Karl Polanyi̇ - Gökten, Yeliz SARIÖZ (Academic Review of Economics & Administrative Sciences, 2013)
In this study author will try to make comparative analysis of Adam Smith and Karl Polanyi's ideas about market. According to Smith market is a mechanism which allocating resources through invisible hand. Contrary to Smith, Polanyi, asserts that a market is a intervention style to economy. Intervention is an inherent property of market. In the first part of this study Adam Smith's opinions about market which assings limited duty to state and defends social interest will come true through invisible hand will be examined. Second part will concentrate on Karl Polanyi's arguments against appear of market society and market economy. At the end of the study, the author has tried to analyse two different market conceptualization and to assert how well this approaches to understand our times. (English)
Keywords: Piyasa; Piyasa Sistemi; SMITH, Adam, 1723-1790; comparative studies; economic research; economists; market; market system

The Institution, the Economy and the Market: Karl Polanyi's Institutional Thought for Economists - Maucourant, Jerome; Plociniczak, Sebastien (Review of Political Economy, 2013)
This paper aims to clarify the logical structure of Karl Polanyi's concept of institution, especially with regard to his most important contribution to political economy—the conception of self-regulating markets as institutions. Although Polanyi did not provide a well-developed concept of institution, this article argues that such a concept exists in his work. Moreover, there is in Polanyi's work a sophisticated institutionalist account of the self-regulating market that has been largely overlooked as Polanyi does not present it explicitly. Analyzing the economy as an institutionalized process, as Polanyi does, reveals that the market is neither a natural nor a spontaneous phenomenon—a conclusion that runs counter to conventional economic thinking. Polanyi's approach enables us to view capitalism (the ‘market society’ in Polanyi's language) through a highly specific cultural fact: the fiction of the self-regulating market. This institutional perspective needs to be reassessed beyond new-institutionalist theoretical constructions.
Keywords: economic structure; free enterprise; institutions (philosophy); philosophy of economics; social facts

Polanyian pedagogies in planning and economic geography - Rankin, Katharine N. (Environment & Planning A, 2013)
The author offers his opinion on social economic planning and the educational courses available on them. The author states that planning social economy was a part of Hungarian economist Karl Polanyi's policy in early 20th century to stabilize the economic conductions in Hungary at that time. The auditor says that Polanyi's book "the Great transformation" formed the basis. which if acted upon, would have preevented the Global Financial Crisis of 2008.
Keywords: Great Transformation, The (Book); POLANYI, Karl, 1886-1964; central economic planning; global financial crisis, 2008-2009; nonprofit sector

Class and situated knowledge in Polanyi's The Great Transformation - Schoenberger, Erica (Environment & Planning A, 2013)
The author offers his views on a controversial fundraising organized by then U.S. Presidential Candidate Mitt Romney in May 2012 where he commented that he won't be bothered about a section of society who only have access to national income but have not contributions or income tax to give. The author cites this as one the reason why Romney was not successful and states that Hungarian Economists Karl Polanyi's socioeconomics theory is relevant in the 21st century.
Keywords: Great Transformation, The (Book); POLANYI, Karl, 1886-1964; ROMNEY, Mitt, 1947-; income tax; national income; political fundraising; socioeconomics; voters

Polanyi, double movements, and political economic transformations - Smith, Adrian (Environment & Planning A, 2013)
The author offers his opinion on Hungarian Economist Karl Polanyi's opinion on social economy. The auth through use of recent events such as the Arab Uprising since 2011 and the post communism societies discusses Polanyi's views with those of political economic planners. The author states that social change within a society post the economic recession could have been avoided had Polanyi's views being taken seriously.
Keywords: Arab Spring Uprisings, 2011-; Arab countries; POLANYI, Karl, 1886-1964; double movement; history; nonprofit sector; political economic analysis; postcommunist societies; social change

The two Karls, or reflections on Karl Polanyi's The Great Transformation - Walker, Richard (Environment & Planning A, 2013)
The article reviews the book "The Great Transformation," by Karl Polanyi.
Keywords: Great Transformation, The (Book); book review; nonfiction; socioeconomics

Karl Polanyi - Le père de la socioéconomie - Journet, Nicolas (Les Grands Dossiers des Sciences Humaines, 2013)
Penseur au parcours très singulier, Karl Polanyi est l’un des fondateurs d’une discipline nouvelle, l’anthropologie économique, qui se consacre à l’étude des échanges dans les sociétés anciennes et ambitionne de théoriser, à l’échelle de l’humanité, ce qu’il en est des rapports entre société et économie.?Pourtant, son œuvre la plus célèbre, La Grande Transformation, ne sort pas du cadre de l’histoire... Plan of the article: Radical liberalism versus social life The free market: an intolerant doctrine An argument against neoclassical orthodoxy
Keywords: free market; neoclassical economics; radical liberalism

'Marketless Trading in Hammurabi's Time': A Re-appraisal - Dale, Gareth (Journal of the Economic & Social History of the Orient, 2013)
In this article I revisit Karl Polanyi's writings on ancient Mesopotamia. I begin by situating them in the context of his general approach to trade, markets and money in the ancient world. Next, I reconstruct his major theses on Mesopotamia, drawing upon his published works as well as unpublished documents in the Karl Polanyi and Michael Polanyi archives. Finally, I provide a critical assessment of the merits and demerits of his contribution, with reference to Assyriological research published in the decades that have elapsed since his death in 1964.
Keywords: Mesoporamia; Mesopotamia; ancient history; assyriology; commerce; economic history; historiography; history; markets; money; trade

Rudderless in a Sea of Yellow: The European Political Economy Impasse for Renewable Transport Energy - Harvey, Mark; Pilgrim, Sarah (New Political Economy, 2013)
Faced with the twin challenges of anthropogenic climate change and ‘peak oil’, the need for an urgent and radical transformation of transport energy has been widely recognised. Adopting a neo-Polanyian economic sociology approach, this article asks what conditions European governance capacity to respond to these challenges, at either national or regional levels, using biofuels as a case study. It asks if the complexity of its political institutions, and the heterogeneity of interests and economic organisations, present ‘the biggest obstacle of all’ (Cohen 2007) to reduce fossil fuel dependency. By examining the European Commission level and comparing five countries, evidence is produced for a political failure in terms of continued fossil fuel dependency. Incumbent interests in the agricultural sector and a distinctively European legacy of a transport fleet dependent on fossil diesel, have led to a marriage of convenience between rapeseed farmers and vehicle manufacturers. As a consequence, rather than escaping from the path dependency on fossil fuels (Unruh 2000), Europe has gone down a cul-de-sac of rapeseed biodiesel inherently limited in scope, and with the low levels of greenhouse gas emissions savings. Ironically this outcome is in part an unintended consequence of opposition to biofuels from environmentalist groups and politics.
Keywords: agriculture; biodiesel fuels; biofuels; biomass energy research; climate change; climate change research; economics; peak oil; politically instituted markets; rapeseed

Interests, Resources and Status: The Distribution of Income, Work and Authority in the Family in a Northern Hungarian Village - Sárkány, Mihály (Acta Ethnographica Hungarica, 2013)
The author deals with two interconnected features of contemporary Hungarian rural family life from a historical perspective based on fieldwork carried out in Varsány in the early 1970s and between 2000 and 2005. The first is the intertwining of the lives of successive generations of families in a period when other segments of Hungarian society were becoming more individualistic. This case puts into question whether economic models of the direction of the flow of goods between generations (linear, altruistic or exchange models) are applicable for this situation. The author suggests that Polányi's ideas may be of help in understanding this phenomenon. The second is the balance of genders within families. Tatjana Thelen, who did fieldwork in another Hungarian village, Mesterszállás, pointed out a decline in the status of women. She holds the Hungarian policy of privatisation and reprivatisation responsible for it, which followed the great socio-economic and political change from socialism to capitalism in 1990. As a similar decrease in the status of women did not occur in Varsány, the author argues that other factors also should be taken into consideration for analysing such situations, like the role of commuting, education, and women's share in landed property.
Keywords: Hungary; authority; distribution (economic theory); families; gender; generation; income distribution; research; rural family; transfer of income; work

Le rendement et le butin. Regard écologique sur l'histoire du capitalisme, The Yield and the Booty. An Ecological Perspective on the History of Capitalism - Charbonnier, Pierre (Actuel Marx, 2013)
This article examines the history of globalized capitalism from the perspective of the relations to the environment which it helped to construct. It proposes a definition of globalized capitalism as a form of relation to nature. If philosophy has frequently postulated that modernity is characterized by the dissociation between the natural and the social, the history of the economic take-off of the states of Western Europe throws a singular light on this hypothesis. Combining a reading of Karl Polanyi and Kenneth Pomeranz, it can be argued that the logic of commodity always tends to render invisible the relations to the environment which define capitalism. The temporal and spatial lag between those populations which live the concrete experience of the industrial revolution and the enormous natural resources required for its appearance enable us to understand how it has been possible for the representation of the economy to become so radically dissociated from its natural metabolism.
Keywords: globalized capitalism; nature and society; political thought

Unravelling the Embedded Liberal Bargain: Labour and Social Welfare Law in the Context of EU Market Integration - Ashiagbor, Diamond (European Law Journal, 2013)
European economic integration with a minimalist social policy at EU level was in part made possible by strong domestic labour market and social welfare institutions. The main contention of this paper is that EU market liberalisation was embedded within institutions of social citizenship at domestic level, which served to counter the liberalisation of the internal market. But this settlement has been put under strain. In addition to the challenges posed to the sustainability of European welfare states by the global economic crisis, the internal market jurisprudence of the Court of Justice casts doubt on the sustainability of the ‘embedded liberal bargain’. This paper focuses on the role of the Court, in particular in its jurisprudence on the interaction between (EU) market freedoms and (national) labour law, which undermines the ability of states to retain their regulatory autonomy over labour or social welfare law and, arguably, speeds up the unravelling of the ‘embedded liberal bargain’.
Keywords: European Union; embedded liberal bargain; market liberalisation; market liberalization; social citizenship

A variety of capitalism … with Chinese characteristics? - Peck, Jamie; Zhang, Jun (Journal of Economic Geography, 2013)
The ‘varieties of capitalism’ framework represents an influential methodological innovation in the field of comparative political economy. It seeks to account for enduring spatial variations in national economic performance by recourse to macroinstitutional analysis, drawing ideal-type distinctions between liberal market economies, modeled on USA, and coordinated market economies, modeled on Germany. Moving beyond critiques of varieties literature—for instance, its methodological nationalism; its preoccupation with limited, formal registers of (national) institutional variety; its growing reliance on rational-choice, firm-centric methods; its failure to account for the pronounced interpenetration and mutual dependence of capitalist economies and its tendency to privilege typological elaboration over causal explanation—this article explores the critical (counter?) case of Chinese capitalism. It considers the extent to which the Chinese economy can be meaningfully characterized as capitalist; the character of its state form and recent development path and its position within—or beyond—conventional understandings of capitalist variety.
Keywords: China; Chinese capitalism; capitalism; developmental state; economic structure; economic systems; free enterprise; socialist state; variegated capitalism; varieties of capitalism

On Life as a Fictitious Commodity: Cities and the Biopolitics of Late Neoliberalism - Rossi, Ugo (International Journal of Urban & Regional Research, 2013)
Building on a biopolitical understanding of the economic crisis, this essay contends that the occurrence of the crisis warns that life is not a real commodity but - to put it in Karl Polanyi's terms - a 'fictitious commodity'. This means that life cannot be integrally subsumed within the economy, and therefore the crisis is to be seen as a pathological way in which societies react to the pervasiveness of capitalist relations, showing the illusory character of self-regulating markets and ownership ideologies. Two mutually contradictory biopolitical responses to the neoliberal crisis, led by the state and grassroots movements respectively, are discussed in the concluding section of the essay.
Keywords: biopolitics; biopolitics (sociobiology); capitalism; consumers; crisis; fictitious commodities; global financial crisis, 2008-2009; government regulation; home ownership; housing; late neoliberalism; neoliberalism; urban economics

A crise de legitimidade da governança climática global. Combinação de uma perspetiva marxista e polanyiana - Van Vossole, Jonas (2013)
This article frames recent problems of the RIO+20 summit, the failure of the Copenhagen Climate Change Conference (COP15) and the problems of the carbon markets within a broader legitimacy crisis of global governance, consequence of the crisis of the global capitalist socio-ecology. Two mechanisms give rise to the loss of legitimacy: unequal development and mercantilization, or the reconfiguration of the power balance and the destruction of social ties. As a consequence, both winners and losers contest the legitimacy of the institutions and mechanisms that govern global capitalism. In this article, we distinguish between the Marx-type of contestation, referring to emerging classes/states, and the Polanyi-type of contestation, referring to the victims of global mercantilization. In the case of climate governance, these winners and losers are represented by BRICS in climate negotiations and by the global environmental justice movement. (English)
Keywords: RIO+20; United Nations Conference on Sustainable Development (2012 : Rio de Janeiro, Brazil); capitalism; capitalisme; capitalismo; carbon dioxide mitigation; environmental aspects; environmental justice; gouvernance; governance; governança; international cooperation; international cooperation on climate change; international cooperation on environmental justice; international cooperation on environmental policy; justice environnementale; justiça ambiental; legitimacy; legitimation (sociology); legitimidade; légitimité

Fortunes of Feminism: From State-Managed Capitalism to Neoliberal Crisis - Fraser, Nancy (Verso Books, 2013)
Charts the history of women’s liberation and calls for a revitalized feminism.Nancy Fraser’s major new book traces the feminist movement’s evolution since the 1970s and anticipates a new—radical and egalitarian—phase of feminist thought and action.During the ferment of the New Left, “Second Wave” feminism emerged as a struggle for women’s liberation and took its place alongside other radical movements that were questioning core features of capitalist society. But feminism’s subsequent immersion in identity politics coincided with a decline in its utopian energies and the rise of neoliberalism. Now, foreseeing a revival in the movement, Fraser argues for a reinvigorated feminist radicalism able to address the global economic crisis. Feminism can be a force working in concert with other egalitarian movements in the struggle to bring the economy under democratic control, while building on the visionary potential of the earlier waves of women’s liberation. This powerful new account is set to become a landmark of feminist thought.
Keywords: critical theory; feminism; feminist theory; triple movement

Promoting Freedom of Association in China? Putting Transnational Corporate Social Responsibility into a National Context - Chan, Chris King-Chi (Journal of Comparative Asian Development, 2013)
Using the findings of an intensive case study of a corporate social responsibility (CSR) project in China, this paper argues against the view that CSR and the state's regulations are mutually exclusive. It contests that the theorization of the transnational social movement (TSM) should not ignore the development of the state regime, which in turn is shaped by the power relations in the workplace and the community, and is embedded in the national political history. The findings of this research support the Polanyi-inspired approach which sees CSR as being embedded in the changing patterns of business–government–society relations. This approach highlights that the behaviour of the state and the engagement of civil society have actively shaped the scope and the implementation of CSR. Following this line of argument, this paper provides evidence of the dynamics and paradox of workers' and grassroots NGOs' engagement in CSR in China. The specificity of China stems from the state, on the road of China's transition from a state socialist country to being a part of global capitalism. Workers' and NGOs' frustration at the denial of freedom of association (FOA) under the CSR projects at this stage reflects well the legacy of Chinese state socialism, in particular the nature of the official trade unions and the suppressive function of the local state–global capital nexus. Therefore, the state is by no means being excluded from either business or civil society, as the orthodox view of CSR presumes.
Keywords: CSR; China; NGOs; corporate social responsibility; delegated legislation; freedom of association; labor unions; labour unions; migrant labor; migrant labour; migrant workers; nongovernmental organizations; social responsibility of business; workers’ committee

Ignorance, denial, internalisation, and transcendence: a post-structural perspective on Polanyi's double movement - Holmes, Christopher (Review of International Studies, 2013)
In this article, I suggest what an engagement between post-structuralism and the work of Karl Polanyi might look like. I do this by presenting a reading of Polanyi's concept of ‘double movement’ as a form of problematisation through binary opposition. I suggest that the central opposition that the double movement depicts – between economy and society as reflected in processes of marketisation and social protection – presents itself in such a way that the problems emanating from the opposition can only be solved through its transcendence. On one hand, the terms of transcendence are limited by the terms of the opposition. On the other hand, since transcendence is never reached, the double movement problematisation stabilises the existence of a lacuna between the lived experience of market society and the discursive field of that market society. As such, the form of the problematisation places a double-limit upon the ways in which ‘solutions’ can be presented. I present this thesis in relation to two instances of double movement discussed by Polanyi in his book, The Great Transformation. I then apply the argument to invocations of the economy-society opposition in contemporary political economic discourse, where it remains as ubiquitous as ever.
Keywords: Great Transformation, The (Book); denial (psychology); double movement; ignorance (theory of knowledge); political economic analysis; postmodernism; poststructuralism; social aspects

Towards an Economic Sociology of Law - Ashiagbor, Diamond; Kotiswaran, Prabha; Perry-Kessaris, Amanda (Wiley-Blackwell, 2013)
Reflecting a developing trend towards interdisciplinary research in economics and law, this agenda–setting volume makes the case for economic sociology of law  an emerging field that draws on empirical, analytical and normative insights from sociology to investigate relationships between legal and economic phenomena. It locates this novel subject in a wider socio–legal tradition and identifies common ground between Polanyian and Weberian approaches to the law, economy, and society, despite the two theorists  divergent views on the functionality of the capitalist model. The volume provides a platform for researchers critical responses to the social embeddedness of market societies. Contributors demonstrate the value of applying a combination of methods in their work, from heterogeneous disciplines such as legal history and ethnography. They consider the position in the western and developed nations, as well as in post–colonial polities. The resulting publication is a well–crafted primer on a specialism that, by combining the insights of socio–economic analysis with the formative influences exerted by their specific legal contexts, informs a more nuanced assessment of law, economics and society.
Keywords: WEBER, Max, 1864-1920; economic sociology; economic sociology of law; law

Rethinking ‘Embeddedness’: Law, Economy, Community - Cotterrell, Roger (Journal of Law and Society, 2013)
Ideas (of Karl Polanyi and others) that economies and markets are ‘socially embedded’ are central to recent research in economic sociology, closely paralleling socio-legal claims for studying law in ‘social context’. But the concept of embeddedness is imprecise and inadequate: a sociology of law and economy cannot rely on it but must address intellectual and moral-political concerns that its use reflects. Max Weber's writings on law and economy have inspired advocates of a new economic sociology of law, but some of Weber's key claims may be outdated, and he treats law and economy as distinct spheres rather than as facets of the social. Sociological research on law and economy should focus on ‘networks of community’ and their regulation, thus illuminating the social character of both law and economic relations. Viewing the social (including economic life) through a ‘community lens’ makes it possible to analyse cultural factors in regulating markets, while emphasizing links between economic relations and other aspects of social life.
Keywords: embeddedness

Law, Social Policy, and the Constitution of Markets and Profit Making - Veitch, Kenneth (Journal of Law and Society, 2013)
This article explores the relationship between law, society, and economy in the context of the contemporary British welfare state. Drawing on themes in Polanyi's The Great Transformation, it identifies the constitutive role of contemporary social policy and law in the creation and maintenance of markets and opportunities for the private sector in the field of welfare, focusing on the institutional mechanisms being put in place to encourage this. What emerges is a reformulation of the function of the welfare state and related law, as these are no longer predominantly driven by a logic of social protection via redistribution to those in need, but increasingly reflect the state's desire to create openings for the private sector within welfare. The institutions that once contributed to ensuring the embeddedness of the market economy in society now play an important role in processes of disembedding – with potentially detrimental consequences for those seeking assistance from the welfare state.
Keywords: Great Britain; disembeddedness; welfare state

A More Perfect Commodity: Bottled Water, Global Accumulation, and Local Contestation - Jaffee, Daniel; Newman, Soren (Rural Sociology, 2013)
Bottled water sits at the intersection of debates regarding the social and environmental effects of the commodification of nature and the ways neoliberal globalization alters the provision of public services. Utilizing Polanyi's concept of fictitious commodities and Harvey's work on accumulation by dispossession, this article traces bottled water's transformation from elite niche item to a product consumed by three fourths of U. S. households. Drawing on ethnographic research with participants in two cases of proposed spring water extraction from rural communities by industry leader Nestlé Waters, we make two principal arguments. First, the case of bottled water necessitates a reevaluation of existing theoretical frameworks regarding water privatization and commodification. Municipal tap water networks pose substantial barriers to capital accumulation, leading one influential scholar to frame water as an 'uncooperative commodity.' However, bottled water's characteristics enable it to evade many of these constraints, rendering it a 'more perfect commodity' for accumulation. Second, expansion of the market good of bottled water alters the prospects for the largely publicly provided good of tap water. We conclude that the growth of this relatively new commodity represents a more serious threat to the project of universal public drinking water provision than that posed by tap water privatization.
Keywords: HARVEY, David; bottled water; commercial products; drinking water; ethnographic analysis; fictitious commodities; globalization; households; municipal services; primitive accumulation; privatization; research

Homo Economicus and the Economics of Property Rights: History in Reverse Order - Milonakis, Dimitris; Meramveliotakis, Giorgos (Review of Radical Political Economics, 2013)
This article challenges some fundamental propositions of property rights theory by revealing the inability of new institutional economics to fully grasp the notion of property, as reflected in its narrow and problematic definition of property rights. The concept of property relations is proposed as better suited to capture the social and institutional aspects of property. By reconsidering the case of the Montagnais, originally used by Alchian and Demsetz for illustrative purposes, and drawing on the works of Polanyi and McManus, we show that the historical explanation of the emergence of (private) property rights provided by Alchian and Demsetz is flawed.JEL Codes: D02, D23, P14
Keywords: civil rights; economics; emergence; historical specificity; homo economicus; human rights; institutional economics; property; property relations; property rights; redistribution

Decommodification and Welfare State: the Case of Workplace Accident Victims - Tabin, Jean-Pierre; Probst, Isabelle; Waardenburg, George; Dransart, Dolores Angela Castelli; Pasche, Geneviève; Bolzman, Claudio (Dekommodifizierung und Wohlfahrtsstaat: der Fall von Opfern von Arbeitsunfällen., 2013)
To what extent does the social treatment of workplace injury in Switzerland enable victims to be decommodified in the sense given by Gøsta Esping-Andersen (1990) to this concept, i.e. enable them to leave the labor market in a way that allows them to uphold a socially acceptable standard of living? After a sociological discussion about the concept of decommodification, we present the results of a qualitative study conducted in Switzerland about workplace accident victims and show that the kind of index proposed by Esping-Andersen in order to compare welfare states is based on a faulty premise. (English)
Keywords: Arbeitsunfall; POLANYI, Karl, 1886-1964; Schweiz; Suisse; Switzerland; Wohlfahrtsstaat; accident du travail; accident insurance; commodification; cost & standard of living; decommodification; dekommodifizierung; démarchandisation; kommodifizierung; labor laws & legislation; labour laws & legislation; marchandisation; qualitative research; welfare state; work-related injuries; workplace accident; état social

Towards the Great Transformation: (5) Materialisms, old and new: theory, sources, and praxis (an introduction) - Catterall, Bob (City, 2013)
One of the major critical claims of this series is that the social and socio-spatial sciences, in their currently dominant form, cannot, for lack of a de-familiarising agenda, one that leads to an appropriate and continually tested strategy (praxis), effectively counter the normalized and naturalized forms and processes of late capitalist urbanization, normalized by mainstream theory in the service of established power, and their extrapolation into a ‘planetary future’. Critical urban theory presents/presented a step forward but it is losing some critical momentum and thus purchase on present and future realities in its neglect of aspects of its own intellectual heritage, of ‘extra-scientific’ resources including the cognitive aspect of the arts/humanities and ordinary experience (‘the university of the streets’), and in its too restrictive theoretical, spatial and temporal foundations.1 It thus, to a significant extent, fails to give an adequate account, a representational and ethical/normative accounting, of ‘the great transformation’ of marketisation/capitalism as told and analysed notably by Polanyi and Marx, and to the possibilities of and its relationship to praxis for a post-marketised/capitalist great transformation. We need a purposeful reading of the full range of the lived materialities of the planet (not just abstracted away into a distinctly immaterial usage of the notion of the ‘planetary’ and, indeed, of ‘urbanization’). We need in fact a sensuous materialism, an old but still unrealized project. This, the first of two futher episodes, is a brief retrospective and prospective survey, drawing on earlier work in this series and sketching in future directions, of such a materialism (materialisms, old and new): theory, sources and praxis.
Keywords: capitalism; cities & towns; cultural studies; de-familiarisation; marketisation; marketization; materialism; monsters; urban community development; urbanization

From Blue to Green and Everything in Between: Ideational Change and Left Political Economy after New Labour - Finlayson, Alan (British Journal of Politics & International Relations, 2013)
This article argues that ideational and institutionalist approaches to the study of policy continuity and change should be complemented by research into political ideologies, and with exploration of an 'intermediate' public sphere in which there is extensive intra-ideological dispute. Exploring contemporary left-wing debate about political economy in Britain it is shown that ideational change takes place in the context of disputes rooted in ideological tradition, involving the rearrangement of concepts, the emphasising of some and the marginalisation of others. In the present moment that debate is marked by what may be thought of, heuristically, as 'Keynesian', 'Polanyian', 'Schumpeterian' and 'Schumacherian' points of reference. Assessing the likelihood of this debate developing into a coherent 'crisis narrative' it is shown that the development of the relationship between these poles will be decisive but that at present they stumble over the conceptualisation of 'equality' and 'the state'.
Keywords: Great Britain; discursive and rhetorical institutionalism; economic conditions; equality; labour party; political doctrines; political economy; political ideology; politics and government; social attitudes

Commerce and Colonization in the Ancient Near East - Aubet, Maria Eugenia (Cambridge University Press, 2013)
In this analysis of the first colonialisms in history, the eastern roots of the Phoenician colonial system in the first millennium BC are traced and the metropolis of Tyre is established as the final link in a long chain of colonial experiences in the ancient Near East. The author reviews some of the theories and debates about trade and the colonial phenomenon, scrutinises the colonial situations that arose in the East in a context of long-distance interregional trade, and analyses the examples - Egypt, Byblos, Uruk, and Assur - where a metropolis with a mercantile tradition intervenes and acts as intermediary in different interregional exchange circuits. The success of a colonial metropolis is measured by its capacity to integrate dependent and complementary economies in circumstances where there is a strong demand for raw materials by the great powers. In that context, the profits obtained in the colonies thanks to price differentials between one region and another bring us back to the unending debate about the place of the economy in the ancient world and the pertinence of using features from modern economy - such as market, capital, private initiative, laws of supply and demand, and money - to explain the economies of the past.
Keywords: archaeology; business & economics; economic history; history / ancient / general

Karl Polanyi - Vail, John (Routledge Studies in Social and Political Thought, 2013)
Keywords: business & economics / economics / theory

Nationalist Politics and the Double Movement: The Problem of Legitimacy in Neoliberal States - Blad, Cory (2013)
This paper argues that the contemporary efficacy of nationalist politics is a strategic response to neoliberal conditions of state legitimation. Using the double movement as a theoretical framework, I argue that neoliberalism alters the policy alternatives available to state actors by reducing the viability of economic protectionist initiatives once dominant in the embedded liberal era. This policy capacity reduction inhibits some of the key means for state legitimation (e.g., public spending, regulatory protectionism), which exacerbate the negative effects of capitalist liberalization. As national populations view the state as unwilling or unable to mitigate economic adversities or provide traditional socio-economic services, significant potential exists for a delegitimation of state actors and institutions. In response, neoliberal state actors have gravitated toward an increasingly cultural rhetoric of nationalism as a means to maintain popular legitimacy. This shift goes beyond simple political power struggles - in accordance with the double movement framework, systemic global capitalism requires legitimate state authority to ensure both local stability and sustained capital accumulation. Neoliberal ideology, however, discourages traditional means of state legitimation. A Polanyian examination of this ironic condition offers a structural explanation for the increased efficacy of nationalist politics; however, it also raises serious questions about the sustainability of this legitimation strategy.
Keywords: double movement; globalization; nationalism; neoliberalism; state legitimation

El Debate Moderno Sobre Los Escritos Económicos Aristotélicos - Borisonik, Hernán (The modern debate on the Aristotelian economic writings., 2013)
The present article is a critical reading of the most important modern interpretations on Aristotle's economic writings. Firstly, the debate between the “primitivists" and the “modernists" (headed by Rodbertus, Bücher and Meyer) will be studied. Then, the readings of Karl Marx, Joseph Schumpeter, Karl Polanyi and Moses Finley, will be analyzed, considering these authors as the most renowned commentators of the Aristotelian economical legacy. (English)
Keywords: ARISTOTLE; Aristóteles; FINLEY, M. I. (Moses Israel), 1912-1986; MARX, Karl, 1818-1883; SCHUMPETER, Joseph Alois, 1883-1950; economic research; economics; economía; history of economics; primitivism and modernism; primitivismo y modernismo

Economic support personal networks of rural entrepreneurships - Cid-Aguayo, Beatriz E.; Sandoval-Nazal, Daniel; Carrasco, Juan Antonio (2013)
The Polanyian discussion about the embeddedness of the economy in social relations, finds a new stream through the social network analysis, from which is possible to map the cooperation relations that underlie economic ones. From the latter, this article shows the analysis of nine family-based economic entrepreneurships linked to a cooperative of services and agrofood products. Through personal networks analysis we mapped and highlighted the diversity of collaborations, monetary and non-monetary exchanges the entrepreneurships perform with their networks. In consequence, we characterized the support networks identifying the different economic exercises that take part in relation to the entrepreneurships. By this way, we accounted some relevant aspects such as the formality or informality condition, the entrepreneurships level, the networks' cohesion and the types of exchange, among other issues.
Keywords: embeddedness; rural entrepreneurships; social networks

Los aborígenes colombianos y las paradojas del desarrollo: el caso de los emberá katíos del Alto Sinú - Martínez Triviño, Ana Milena; Reyes Albarracín, Fredy Leonardo (Colombian indigenous and the paradoxes of development: the case of the emberá katios from High Sinú., 2013)
In 1992 the construction of the Urra I hydroelectric begins, one of the most ambitious energy projects in the recent history of Colombia. Located in the inhospitable jungle region of High Sinú -northwest of the Andean territory- the environmental license granted by government entities ignored the ecological and environmental impacts the work would entail, and also failed to recognize the presence of the emberákatio indigenous people, whose constitutional rights were violated. Following the arguments presented by the economist Karl Polanyi, the article explores the environmental, social and cultural consequences caused by the energy project, in addition to delving in the strategy of violence and extermination that paramilitarism created to disrupt the organizational processes for the emberákatios, which resulted in the disappearance and murder of indigenous leaders. (English)
Keywords: aborígenes; fictitiuos merchanidise; indigenous; mercado autorregulado; mercancías ficticias; paramilitarism; paramilitarismo; self-regulated market; violence; violencia

Globalization and the Privatization of Welfare Administration in Indiana - Aman Jr., Alfred C. (Indiana Journal of Global Legal Studies, 2013)
This article explores the relationship of globalization to domestic law in the context of privatized welfare services in Indiana. It examines the ways that privatization can affect vulnerable populations such as welfare recipients by, in effect, partially dis-embedding the market from the state. It applies Karl Polanyi's conception of a double movement to illustrate how the political process can, in effect, re-embed the market in the state. Utilizing Indiana's recent experiences with welfare administration privatization, this article shows that re-embedding is not a simple question of reversing decisions already taken, but rather a complex sequencing of political and legal engagements. It recommends law reforms aimed at more easily triggering the kinds of political actions anticipated by Polanyi's analysis.
Keywords: GLOBALIZATION; INDIANA; Indiana; POLANYI, Karl, 1886-1964; POLITICAL participation laws; PRIVATIZATION; Public welfare; double movement; global legal studies; globalization; political participation laws; privatization; public welfare

Marxism After Polanyi - Burawoy, Michael (Marxisms in the 21st Century: Crisis, Critique and Struggle, 2013)
KM - What should we do with Marxism ? For most the answer is simple. Bury it ! Mainstream social science has long since bid farewell to Marxism. The approach adopted here is that Marxism is a living tradition that enjoys renewal and reconstruction as the world it describes and seeks to transform undergoes change ... However, Marxsm cannot simply mirror the world. It seeks to change the world, but changing such a variegated world requires a variegated theory that keeps up with the times and accommodates places.
Keywords: MARX, Karl, 1818-1883; Marxism; fictitious commodities

The Economic-Environment Relation: Can Post-Keynesians, Regulationists and Polanyians Offer Insights? - Chester, Lynne; Paton, Joy (European Journal of Economics and Economic Policies: Intervention, 2013)
As the environmental debate has intensified, post-Keynesians, Regulationists and Polanyians remain relatively silent. All treat time as historical, consider economic issues subordinate to politics and have plenty to say about growth, institutions, uncertainty, and path-dependent events. These concepts seem pertinent to understanding the economic-environment problematic. This article explores the 'environmental potential' of these three heterodox economic traditions. We examine the conception of nature underpinning each methodological approach and the ability of their key conceptual tools to explain the economic-environment relation. Methodological pluralism and a project driven by the neoclassical agenda, we posit, seriously weakens the possibility of a post-Keynesian-grounded coherent environmental perspective. On the other hand, the Regulationists and Polanyians provide cogent analytical frameworks to advance explanations of the economic-environment relation and the contemporary environmental challenge.
Keywords: Keynesian; Keynesianism; Sraffian; capitalist systems; current heterodox approaches: institutional; economic methodology; environment and development; environment and trade; environmental accounts and accounting; environmental economics: government policy; environmental equity; evolutionary; general aggregative models: Keynes; general aggregative models: Marxian; institutional; political economy; population growth; post-Keynesian; sustainability

Europe and Problems of Marketization: from Polanyi to Scharpf - Crouch, Colin (Firenze University Press, 2013)
The author uses the theory of the 'Great Transformation' of the industrialisation of England developed by Karl Polanyi to describe the current situation in Europe. There is a strong marketisation of the economy and also of social life, but what is missing is the social policy that needs to accompany this process, if there are not to be major problems. From this perspective marketization and social policy do not exist in a zero-sum game, but are mutually dependent. The emphasis on negative rather than positive integration (to use the terms conceived by Fritz Scharpf) in the development of Europe makes this interdependence more difficult to achieve. The division of competences between the European level (market policies) and the nation states (social policies) makes this situation even worse. The only way forward is a strengthening of the European social dimension.
Keywords: Europe; business & economics; commodification; economic theory; social policy

A Triple Movement? - Fraser, Nancy (New Left Review, 2013)
Keywords: double movement; social protection; triple movement

Insurgency and institutionalization: the Polanyian countermovement and Chinese labor politics - Friedman, Eli (Theory and Society, 2013)
Why is it that in the nearly 10 years since the Chinese central government began making symbolic and material moves towards class compromise that labor unrest has expanded greatly? In this article I reconfigure Karl Polanyi's theory of the coutermovement to account for recent developments in Chinese labor politics. Specifically, I argue that countermovements must be broken down into two constituent but intertwined "moments": the insurgent moment that consists of spontaneous resistance to the market, and the institutional moment, when class compromise is established in the economic and political spheres. In China, the transition from insurgency to institutionalization has thus far been confounded by conditions of "appropriated representation," where the only worker organizations allowed to exist are those within the state-run All China Federation of Trade Unions. However, in drawing on two case studies of strikes in capital-intensive industries in Guangdong province, I show that the relationship between insurgency and institutionalization shifted between 2007 and 2010.
Keywords: ACFTU; China; countermovement; economic capital; insurgency; labor; labour; social movements

Socioéconomie et démocratie, l'actualité de Karl Polanyi - Hillenkamp, Isabelle; Laville, Jean-Louis (Toulouse : Érès éd, 2013)
La crise actuelle révèle des tensions fondamentales entre capitalisme et démocratie. L'orthodoxie occidentale, centrée sur les programmes d'ajustement, s'avère incapable d'affronter ce défi à la frontière de l'économie, du social et du politique. Il est temps de se tourner vers d'autres approches. S'appuyant sur l'oeuvre singulière de Karl Polanyi (1886- 1964) qui a décelé la dérive totalitaire de la société de marché, cet ouvrage soumet de nouvelles clés pour penser certains des problèmes les plus ardus de notre temps. Les auteurs, internationalement reconnus, venant d'Amérique et d'Europe, du Sud et du Nord, sont publiés pour la première fois ensemble en langue française. Ils proposent une vision croisée des rapports entre démocratie et économie, à partir de différentes disciplines et de divers terrains d'étude. Cette réflexion collective débouche sur la construction d'un cadre théorique permettant de comprendre la teneur des mutations économiques et politiques contemporaines. Mais elle ne s'arrête pas aux constats critiques. Face à la menace d'une régression autoritaire, elle s'intéresse aux pratiques qui concrétisent des issues solidaires et démocratiques à la crise. ENG: The aim of this book is to mobilize the contribution of Polanyi to think the socio-economy in a perspective of deepening democracy. The book updates the critical analysis of the new globalized capitalism but also identifies socio-economic experiences that can contribute to building more democratic societies in the 21st century.
Keywords: démocratie; développement économique - aspect social; economics - sociological aspects; triple movement; économie de marché; économie politique - aspect sociologique; économie sociale; économie sociale et solidaire

Formas De Integração E ‘Tríade Mercantil’: O Carácter Não Ontológico Do Mercado Na Análise Institucional De Karl Polanyi (Forms of Integration and ‘Catallactic Triad’: The Non-ontological Character of Market in the Institutional Analysis of Karl Polanyi) - Machado, Nuno Miguel Cardoso (Social Science Research Network, 2013)
A análise da economia enquanto processo instituído, proposta por Polanyi, concretiza-se no estudo dos padrões institucionais que esta pode assumir empiricamente: reciprocidade, redistribuição e troca mercantil. Esta última – corporizada num sistema de mercados autorregulados – apenas se assume como forma de integração dominante nas sociedades capitalistas modernas. O estudo das formas de integração – assim como a sua extensão lógica à análise dos conceitos de comércio, dinheiro e mercado – permitirá que as ciências sociais evitem uma visão marcada pela ‘mentalidade de mercado’, ou ‘falácia economicista’. Se o comércio e o dinheiro têm acompanhado a humanidade desde os seus primórdios, os mercados são um desenvolvimento institucional bem mais recente.The analysis of the economy as instituted process, suggested by Polanyi, consists in the study of the institutional patterns which the economy may assume empirically: reciprocity, redistribution and market exchange. The last one – embodied in a system of price-making markets – only comes to be a dominant form of integration in modern capitalist societies. The study of the forms of integration – as well as its logical extension to the analysis of the concepts of trade, money and market – will allow social sciences to avoid a framework characterized by a ‘market mentality’, or ‘economistic fallacy’. Trade and money have existed since the early stages of mankind but markets are a more recent institutional development. in Teoria & Sociedade, Forthcoming
Keywords: exchange; market; reciprocity; redistribution

Port of trade - Möller, Astrid (The Encyclopedia of Ancient History, 2013)
A “port of trade” is a theoretical concept developed by Karl Polanyi (1886–1964) to describe the phenomenon of a particular kind of trading post.
Keywords: anthropology; economic history; multiculturalism

A Critique of Economic Determinism: Karl Polanyi's Methodology. (In Russian.) - Nureev, R. M. (Zhournal Novoi Ekonomicheskoi Associacii/Journal of the New Economic Association, 2013)
Keywords: economic determinism

Karl polanyi and the economicist hybris of modernity - Polo Blanco, Jorge (Logos (Spain), 2013)
Using the work of Karl Polanyi as its axis, this study attempts to sketch a criticism of economicism and of the society that produces it, a society launched on a historical cultural path that may well be understood as a gradual economic totalization of human life. That is the critical path which will be posed here, if only in an embryonic manner.
Keywords: economic determinism; economic totalization; economicism

Nature and Power - Radkau, Joachim (Social Science History, 2013)
Nature and Power is to be understood not only as human power against nature but also as power by nature in the sense of Michel Foucault's biopouvoir (biopower) or Francis Bacon's "Naturae non imperator nisiparendo" (Only by obeying nature may we dominate nature). The fragile human attempts to get power over nature and by nature have a long history, reaching back over millennia until prehistoric times, and much of world history may be explained in part by the unstable relationship between humans and nature. The environmental approach offers afresh look at global history. The great change that has happened in modern times seems to have been described best by Karl Polanyi (1944) in his Great Transformation, which also refers to a revolution in the human relation to nature. There are primeval symbioses of humans and nature that are the basis of environmental history until modern time. A global history of the environment may be written for a long time along the three great commons of history: woodlands, water, and pasture. The dark tune of Garrett Hardin's (1968) "Tragedy of the Commons," to be sure, does not dominate the whole melody of environmental history. There is also a lot of historical evidence for Elinor Ostrom's rehabilitation of the commons. But it is better to be cautious with dogmatic theories and sweeping judgments. In modern times Hardin may be right, at least in this or that regard. Ostrom's concept applies only to local, not to global commons. The underlying philosophy of Nature and Power is neither optimism nor pessimism but possibilism.
Keywords: BACON, Francis, 1561-1626; FOUCAULT, Michel, 1926-1984; Nature & Power: A Global History of the Environment (Book); POLANYI, Karl, 1886-1964; RADKAU, Joachim; environmental history; environmentalism; nature and civilization

A Crisis of Executive Managerialism in the EU: No Alternative? - Joerges, Christian; Weimer, Maria (Maastricht Faculty of Law Working Paper No. 2012-7, 2012)
Against a backdrop of rapidly evolving crisis management in the European financial and sovereign debt crisis this essay aims both to explore and to re-consider the role of law in the EU integration process: What did law accomplish? Where did it fail? What is law going to endure? What kind of future can it envisage? The essay traces back the evolution of the law-politics relationship in both EU legal scholarship and practice from the foundational period of ‘integration-through-law’ to the advent of ‘new governance’ in the EU, and finally to the current deep transformations of EU law in new economic governance and the financial crisis. The centrality of law as ‘both the object and the agent’ of European integration, and the legal enshrinement of EU’s economic constitution has recently neglected the weight of ‘the social’ in the societies of post-war Europe, a failure which was to become detrimental to both domestic social stability and the legitimacy of integration. Attempts to cure Europe’s social deficit by re-conceptualizing the notion of law as new governance have widened the theoretical perspective of EU legal scholarship. Yet new governance has not delivered more social democracy and justice in Europe in practical terms, and continues to suffer from the methodological problems of its ‘definition-by-contrast.’ These problems re-emerge in current new economic governance, which Europe’s crisis management is generating. This hybrid arrangement of hard and soft law instruments has, to date, been economically unsuccessful and socially disastrous, especially in the South of Europe. Equally disquieting, the notion of democratic law (either in traditional or experimentalist understandings) has been replaced by a praxis of authoritarian executive managerialism. The essay concludes by sketching out an alternative understanding of law-mediated legitimacy in the integration process, namely ‘conflicts-law constitutionalism’. This approach stresses the normative value of conflicts and pluralism in the process of European integration. Instead of ‘ever more Europe’ it aims to secure the existing democratic credentials of EU law, namely its ability to correct the democratic deficit of the Member States while respecting their constitutional integrity.
Keywords: EU economic constitution; EU financial crisis; European Union; governance; unity in diversity

Mechanism of Governance of Economic Relations - Rus, Andrej (Teorija in Praksa, 2012)
The problem of the governance of economic transactions arises from the fact that they are sequential. This creates uncertainty regarding the fulfilment of implicit or explicit contracts. Institutional economics understands this uncertainty as arising from opportunism and seeks a solution in specialised contract enforcement institutions. Economic sociology understands the uncertainty as a result of misunderstanding and finds a solution in mechanisms of governance that, in addition to sanctions, allow for coordination among participants in a transaction. In this paper, we confront the arguments made by sociology and economics regarding the mechanism of governance of economic transactions. Following Polanyi, we distinguish three governance mechanisms of economic relations and note that, to be operational, each of them requires a different social structure and social regulation.
Keywords: economic activity; economic sociology; economics; governance mechanisms; institutional economics; social structure; socioeconomics

Mehanizmi Upravljanja Ekonomskih Odnosov - Rus, Andrej (MECHANISM OF GOVERNANCE OF ECONOMIC RELATIONS., 2012)
The problem of the governance of economic transactions arises from the fact that they are sequential. This creates uncertainty regarding the fulfilment of implicit or explicit contracts. Institutional economics understands this uncertainty as arising from opportunism and seeks a solution in specialised contract enforcement institutions. Economic sociology understands the uncertainty as a result of misunderstanding and finds a solution in mechanisms of governance that, in addition to sanctions, allow for coordination among participants in a transaction. In this paper, we confront the arguments made by sociology and economics regarding the mechanism of governance of economic transactions. Following Polanyi, we distinguish three governance mechanisms of economic relations and note that, to be operational, each of them requires a different social structure and social regulation. (English)
Keywords: economic activity; economic sociology; ekonomska sociologija; governance mechanisms; institutional economics; international economic relations; mehanizmi upravljanja; social structure; socioeconomics

Cité et réciprocité, City and Reciprocity : The Role of Cultural Beliefs in the Roman Economy - Verboven, Koenraad (Annales. Histoire, Sciences Sociales, 2012)
La nouvelle économie institutionnelle est devenue populaire dans la recherche de l’économie antique depuis une dizaine d’années. Pourtant la notion de « croyances culturelles », qui joue un rôle central dans l’œuvre de Douglass North et dans les analyses du changement institutionnel par Avner Greif, a été largement ignorée. J’affirme qu’une approche néo-institutionnelle qui utilise cette notion de « croyances culturelles » offre une meilleure voie pour comprendre l’influence des idéologies et des valeurs morales sur l’économie antique que le modèle de Moses Finley. Des croyances culturelles ne sont pas des contraintes déterministes sur le comportement humain, mais elles aident à orienter les prises de décision et permettent d’anticiper les (ré) actions des autres. J’étudie deux ensembles de normes et de valeurs qui, dans la culture romaine, ont profondément marqué le cadre institutionnel de l’économie. L’un était centré sur la réciprocité. Ses normes et valeurs ont permis de construire et de maintenir des réseaux sociaux au-delà du groupe de la familia étendue avec ses affranchis. Elles étaient à la base du développement de la loi des obligations et de la représentation. L’autre se fondait sur la cité. Il a formé la culture politique en créant des droits et des obligations personnelles et en imposant des demandes légitimes aux élites politiques de défendre ceux-ci et de garantir et de stimuler des intérêts privés et communs. Le droit romain et la justice étaient ses résultats les plus importants. Idéologiquement, l’Empire romain se présentait comme une méta-cité qui incorporait les communautés locales qui, à leur tour, étaient graduellement transformées sur le modèle de la cité. Ces deux ensembles de croyances culturelles ont baissé les coûts de transactions, mais ils n’ont jamais menacé la prééminence de l’aristocratie locale et impériale. Vers la fin du IIe siècle de notre ère, les cités locales se sont affaiblies tandis que l’administration impériale se renforçait. Les aristocraties locales et régionales se sont tournées vers la bureaucratie et l’armée impériales pour maintenir leur rang social, leur influence et leur pouvoir. L’idéologie de la cité comme principe dominant de la culture politique devenait soumise à celle de l’empereur sacral, garant de la justice et de l’ordre divins. EN: New Institutional Economics have become popular in ancient economic history research the past decade. However, the notion of “cultural beliefs” that plays a central role in Douglass North’s recent work and in Avner Greif’s analysis of institutional change, has been largely ignored. I argue that a neo-institutional “cultural beliefs approach” offers a better way to understand the influence of ideology and moral values on the ancient economy than the Finley model does. Cultural beliefs are no deterministic constraints on human behavior but help to orient decision making and allow anticipating the (re)actions of others. I explore two key sets of norms and values in Roman culture that profoundly marked the economy’s institutional framework. One centered on reciprocity. Its norms and values supported social networks beyond the confines of the familia-freedmen group and underlay the development of contract and agency law. Another set rested on citizenship. It shaped political culture by creating individual rights and obligations and laying legitimate claims on political elites to enforce these and to take action to secure and stimulate private and common interests. Roman law and the distribution of justice was its prime off-spring. Ideologically the Roman Empire presented itself as a meta-city that incorporated local communities which in turn were gradually transformed to fit the civitas model. Both belief sets lowered transaction costs, but they never threatened the preeminent position of local and imperial aristocracies. Towards the end of the second century CE local communities became weaker while the imperial administration grew stronger. This caused local and regional aristocracies to turn to the imperial court and army for status, influence and power. The ideology of citizenship as the guiding principle of political culture gave way to that of the sacred emperor who guaranteed divine justice and order.
Keywords: Roman Empire; ancient economic history; ancient economies; cultural beliefs approach; institutional economics

Polanyi and Hayek on Freedom, the State, and Economics - Filip, Birsen (International Journal of Political Economy, 2012)
This paper examines the relationship that prevails between the state, economics, and freedom according to the works of Friedrich Hayek and Karl Polanyi. Hayek, who was one of the most important contributors to the development of the modern market economy and liberalism, formulated a concept of freedom that includes economic and negative freedom as significant components; his objective was to demonstrate the superiority of liberal capitalist societies over all other forms of organizing a society in terms of achieving freedom. Meanwhile, Polanyi, who confronted all forms of totalitarian regimes and argued that a "self-regulating market … was a utopian project," formulated a concept of freedom that rejected the self-regulating mechanism of the market economy as a component of freedom; he supported regulated markets and included moral, ethical, and social values among the key components required for the realization of freedom. This paper shows that Hayek failed to foresee the destructive social consequences and dehumanizing aspects of modern market capitalism, and promoted the free market economy as a guardian of freedom primarily for its instrumental value. Conversely, Polanyi was able to anticipate the modern market economy's potential to engender disastrous consequences for the whole of humanity and provided an honest and objective analysis of the modern market system that is indispensable for understanding the dilemmas, issues, and contradictions of economic globalization.
Keywords: HAYEK, Friedrich A. von (Friedrich August), 1899-1992; capitalism; economics; globalization; modern market economy; negative freedom; open society; political philosophy; positive freedom

Adam Smith's Green Thumb and Malthus's Three Horsemen: Cautionary Tales from Classical Political Economy - Dale, Gareth (Journal of Economic Issues (Taylor & Francis Ltd), 2012)
This essay identifies a contradiction between the flourishing interest in the environmental economics of the classical period and a lack of critical parsing of the works of its leading representatives. Its focus is the work of Adam Smith and Thomas Malthus. It offers a critical analysis of their contribution to environmental thought and surveys the work of their contemporary devotees. It scrutinizes Smith's contribution to what Karl Polanyi termed the "economistic fallacy," as well as his defenses of class hierarchy, the "growth imperative" and consumerism. It subjects to critical appraisal Malthus's enthusiasm for private property and the market system, and his opposition to market regulation. While Malthus's principal attraction to ecological economists lies in his having allegedly broadened the scope of economics, and in his narrative of scarcity, this article shows that he, in fact, narrowed the scope of the discipline and conceptualized scarcity in a reified and pseudo-scientific way.
Keywords: MALTHUS, T. R.; SMITH, Adam, 1723-1790; classical political economy; consumerism; ecological economics; economistic fallacy; environmental economics; environmental policy; growth imperative; natural capital; scarcity

Conventions, the Great Transformation and Actor Network Theory - De Munck, Bert (Konventionen, die große Transformation und Actor Network Theory., 2012)
This article proceeds from the field of tension between the synchronical approach of the economics of convention and the diachronical approach of economic anthropology (in the tradition of Karl Polanyi). It is argued that the economics of convention remain problematic to historians in that they fail to capture the long term transformations traditionally referred to as the emergence of modernity and the coming about of homo economicus. As a possible solution, the use of concepts and insights from Actor Network Theory is proposed. While this cluster of theories enables an historical perspective without considering modernity as a natural process, it confronts changing relationships between subjects, objects and cultural systems of meaning head on.
Keywords: CALLON, Michel; actor-network theory; conventions; economic anthropology; economic aspects; history; manners & customs; modernity; performativity

An Analytical Framework for the Relationship between Environmental Measures and Economic Growth Based on the Regulation Theory: Key Concepts and a Simple Model - Okuma, Kazuhiro (Evolutionary and Institutional Economics Review, 2012)
This paper proposes an analytical framework using the regulation approach and consisting of explanations of some concepts and a simple way of modeling; the concepts and modeling are developed by focusing on the distributive aspect of environmental issues and using environmental costs as key indices. As a basis for the framework, we refer to the ideas of Polanyi and the surplus approach, and we recognize the socio-economic system as interlinked triple reproductions of the economy, humans, and the environment. This recognition is formalized as an equation of three-dimensional distributions among profits, wages and rents. The "economy-environment nexus," which represents the relationship between the natural environment's reproduction and economic reproduction, is analyzed as one of the institutional forms. The dynamics of institutional coordination are specified with attention to distributive conflicts between relevant actors, leading to the idea of "spatial and temporal gaps of coordination." Environmental costs are identified and incorporated into the equation of distribution as key information to characterize specific forms of the economy-environment nexus. The economy-environment nexus influences growth regimes through multiple routes, including investment, trade, and productivities. In order to analyze the aggregate effects, we propose a variant of the Kaleckian growth model incorporating environmental costs as key variables. Using this model, we specify conditions for the "paradox of costs for environmental measures," where environmental measures raise the profit rate. This framework is expected to be used in historical or comparative analyses of particular economies, including those using periodized specification of the economy-environment nexus.
Keywords: Marxian; Sraffian; current heterodox approaches: socialist; distributional effects; employment effects; environment and development; environment and growth; environment and trade; environmental accounts and accounting; environmental equity; pollution control adoption costs; population growth; sustainability

La subsistance de l'homme. La place de l'économie dans l'histoire et la société - Praquin, Nicolas (Comptabilité Contrôle Audit, 2012)
Keywords: La subsistance de l'homme: La place de l'économie dans l'histoire et la société (Book); POLANYI, Karl, 1886-1964; The Livelihood of Man; book review; economic development; nonfiction

Polanyi defanged - Turner, Stephen (Social Studies of Science (Sage Publications, Ltd.), 2012)
A literary criticism of the book "Michael Polanyi and His Generation: Origins of the Social Construction of Science," by Mary Jo Nye is presented. The author discusses the significance of Michael Polanyi in the history of science studies and provides insight on his life and his relationship with his brother Karl. He analyzes how the book presents the origins of science studies, Polanyi’s activities as an economist, and his fight against Communism.
Keywords: Dahomey and the Slave Trade; James Bryant Conant; Karl Polanyi; Michael Polanyi & His Generation: Origins of the Social Construction of Science (Book); NYE, Mary Jo; POLANYI, Michael, 1891-1976; communism & science; economists; planning of science; science - study & teaching

The ‘Double Movements’ of Neighbourhood Change: Gentrification and Public Policy in Harlem and Prenzlauer Berg - Bernt, Matthias (Urban Studies (Sage Publications, Ltd.), 2012)
This article explores the interrelation of gentrification and public policies in the neighbourhoods of Prenzlauer Berg (Berlin) and Harlem (New York City). It draws on Karl Polanyi’s concept of a ‘double movement’ and argues that gentrification is fundamentally a political process. Thus, while demise in the face of market forces, or even an active support of gentrification, is clearly visible in both neighbourhoods, the relation between public policies and gentrification is also highly unstable and contradictory. The cases studied highlight that the resources to push or prevent gentrification are contingent; they are not built into the essence of urban development.
Keywords: Berlin (Germany); Germany; Harlem (New York, N.Y.); economic conditions; gentrification; government policy; social conditions; urban planning; urban renewal

Addiction: The Urgent Need for a Paradigm Shift - Alexander, Bruce K. (Substance Use & Misuse, 2012)
Severe addictions to drug use and to countless other habits are causing enormous harm around the globe. Massive expenditures and dedicated efforts of police, doctors, addiction therapists, and self-help groups have failed to bring the problem under control, although many individual addicts have been helped. What can society do when our best efforts continue to fail and a menacing problem continues to grow? This paper proposes that a major paradigm shift is required. The currently dominant paradigm assumes that addiction is either an individual disease or an individual moral breach. But this individually oriented paradigm has failed. Instead, addiction needs to be understood socially, as a way that large numbers of people adapt to the breakdown of psychologically sustaining culture under the global influence of free-market society. This new paradigm is based on the social thinking of Karl Polanyi and other social scientists rather than on the individual thinking of neuroscientists, doctors, or psychologists.
Keywords: addiction; addictive consumption; alienation; compulsive behavior; economic aspects; free-market society; globalization; paradigm shifts; paradigms (social sciences); psychological factors; psychosocial integration; social problems; social psychology; social support; socioeconomic factors

Polanyi's Embeddedness and Shareholder Stewardship: A Contextual Analysis of Current Anglo-American Perspectives on Corporate Governance - Talbot, Lorraine E. (Social Science Research Network, 2012)
Polanyi saw the economy as properly embedded in society and argued that the capitalist free market, in commodifying social relations of production, seeks to disembed the economy from society. The resulting lack of continuity between society and economy, he maintained, created conflict which necessarily required state intervention. The market economy, therefore, in contrast to neoclassical/neoliberal economics’ vision of an autonomous, self-regulating market, required more, not less, state intervention to sustain it than alternative, more embedded economies. This article explores this conflict in the context of a specific neoliberal claim: that institutional shareholders are capable of being good “stewards” of the companies in which they invest. Utilising Polanyi’s embeddedness, this article assesses the “stewardship” approach as it is manifested in the US and in the UK. This approach is posited on a vision of a disembedded, self-regulating market. Putting it into practice is thus a retrograde step which will only exacerbate the problems created by the market-based corporate governance strategies which have prevailed since the late 1970s onwards.
Keywords: Polanyi; conflict; crisis; embeddedness; shareholder stewardship

A second double movement? Polanyi and shifting global opinions on neoliberalism - Levien, Michael; Paret, Marcel (International Sociology, 2012)
Karl Polanyi’s theory of the ‘double movement’ has gained great currency in recent years to explain the global growth of contemporary social movements resisting neoliberalism. However, there has been no statistical research demonstrating whether these protest movements represent a more general trend of growing discontent with ‘disembedding’ markets from public control. This article uses questions from the World Values Survey to construct an ‘embeddedness’ index measuring public opinion on the desired relationship between states and markets. Focusing on public opinion in 20 countries during the 1990s, the analysis poses three questions: First, is there evidence of increasing global support for ‘re-embedding’ markets? Second, how does such opinion vary across regions of the world? Finally, what is the class and gender composition of this latent countermovement? The results provide substantial evidence of an emerging countermovement in public opinion over the 1990s with complex class, gender, and geopolitical variation.
Keywords: countermovement; double movement; embeddedness; neoliberalism

China's Decentralized and Inegalitarian Developmental State - Nordhaug, Kristen (Forum for Development Studies, 2012)
This article investigates China's market reforms and rapid economic development from the late 1970s. The following questions are posed: (1) How did the Chinese 'peasant revolution' and the rural policies and institutions of Mao China influence the market reforms and subsequent economic development? (2) How does China's development after the market reforms relate to Marxist and Polanyian notions of proletarization and commodification of land and labour as preconditions of capitalist development? (3) To what extent and why does China's development after the market reforms diverge from East Asian growth with equity? (4) How does China's 'decentralized developmental state' influence its growth model and distribution? (5) The present Chinese government tries to promote greater equality and more domestic consumption. Is this a Polanyian 'double movement' in response to commodification of land and labour? How likely are these policies to succeed? These questions are addressed through historical-comparative analyses with comparisons of long-term rural dynamics of Mao China and the former Soviet Union. China after the market reforms is compared with England during its transition to agrarian capitalism and industrial capitalism from the sixteenth century through the early nineteenth century and with Taiwan and South Korea from the late 1940s until the 1980s.
Keywords: Marxian; Sraffian; aggregate factor income distribution; current heterodox approaches: socialist; inflation; institutions and growth; institutions: design, formation, and operations; macroeconomic analyses of economic development; money; socialist systems and transitional economies: national income, product, and expenditure; structure, scope, and performance of government

Les sociétés civiles entre risques ploutocratiques de la philanthropie et alternatives solidaires : une lecture polanyienne, The civil societies between the plutocratic risks of philanthropy and solidarity based alternatives : a Polanyian reading - Servet, Jean-Michel (Mondes en développement, 2012)
Tant dans les pays du Nord que dans ceux du Sud, un compromis entre une logique néo-libérale anti-étatiste et certains intérêts des organisations non gouvernementales a marqué la construction des sociétés civiles. Il s’est réalisé notamment à travers le social business soutenu par de grandes entreprises. En mobilisant le concept polanyien de principe d’intégration économique, l’analyse a pour ambition de comprendre les limites de ce nouveau modèle de philanthropie et ce qui le différencie de l’économie solidaire., Both in the Norths and in the Souths, a compromise between a neoliberal anti-statist logic and interests of non governmental organizations marked the construction of civil societies. This is achieved particularly through the social business supported by big companies. By mobilizing the polanyien concept of principle of economic integration, the analysis aims to understand the limits of this new model of philanthropy and what differentiates it of the solidarity based economy.
Keywords: NGOs; Polanyi; formal and informal sectors; institutional arrangements; nonprofit institutions; political processes: rent-seeking, lobbying, elections, legislatures, and voting behavior; principes d'intégration économique; shadow economy; social business; économie solidaire

Consumer markets and national income inequality: A study of 18 advanced capitalist countries - Kollmeyer, Christopher (International Journal of Comparative Sociology (Sage Publications, Ltd.), 2012)
Sociologists have paid scant attention to the possibility that the structure of the macro-economy is an important determinant of income inequality. Although prior research finds negative links between the size of the public sector and income inequality, no study to date considers whether the size of consumer markets has distributional consequences as well. To investigate this possibility, the present study measures the size of national consumer markets with the System of National Accounts used by governments to calculate gross domestic product (GDP). Based on data from 18 advanced capitalist countries over nearly a 40-year period, two-way random effects regression models reveal a strong and positive link between the size of consumer markets and income inequality. This finding is robust to the inclusion of numerous control variables, and to the consideration of endogeneity within the causal relationship. The proposed theoretical explanation centers on ideas developed by Polanyi, and suggests that economic activity in consumer markets creates higher levels of individual differentiation, and hence higher levels of income inequality, than economic activity in other sectors of the economy. The study concludes by highlighting ways future research can advance our theoretical and empirical understanding of this topic.
Keywords: Keynesian economics; Keynesianism; consumer goods; consumer markets; distributive justice; economic aspects; economic sociology; equality - economic aspects; income distribution; income inequality; markets - social aspects; research; social classes; social stratification

Reconfiguring the Politics–Law Relationship in the Integration Project through Conflicts–Law Constitutionalism - Everson, Michelle; Joerges, Christian (European Law Journal, 2012)
This paper argues that the relationship between law and politics must be reconfigured within the European Union. Dissecting recent crises in economic, social and political organisation within Europe with reference to the three ‘fictitious’ commodities of Karl Polanyi, we find that law in Europe has contributed to de-legalisation, de-socialisation and disenfranchisement. Moving on to review the potential for law to respond to crisis through new paradigms of conflict resolution as suggested by Ralf Dahrendorf, we find that the steering capacity of law is nevertheless limited if it fails to establish a sustaining relationship with politics. Our conclusions are modest: conflict–law constitutionalism cannot solve Europe's many crises. However, it does represent a new paradigm of law within which relations between European law and European politics might be re-established—a vital step to overcoming crisis.
Keywords: European Union; constitutionalism; economic law; fictitious commodities

Exchange Rising? Karl Polanyi and Contentious Politics in Contemporary Latin America - Silva, Eduardo (Latin American Politics and Society, 2012)
Free-market reforms in the last quarter of the twentieth century weakened the point of production—labor unions—as the source of effective nonparty political countermovement to liberal capitalism. Has another significant source of societal resistance arisen in association with the resurgence of market economics? Building on the work of Karl Polanyi, this article argues that circuits of exchange—the commodification of labor, land, and money—can be powerful sources of movement against contemporary forms of free-market capitalism. It draws on the cases of Argentina, Bolivia, and Ecuador to explore how Polanyi's exchange-based approach helps to elucidate three phenomena: the great variety of identities behind the myriad movements against free-market capitalism, the emergence of community as a powerful locus for organizing, and the proliferation of new forms of transgressive and highly disruptive direct action to reinforce the debilitated effectiveness of the strike.
Keywords: Latin America; circuits of exchange; countermovement

Twentieth-Century Jewish Émigrés and Medieval European Economic History - Mell, Julie (Religions, 2012)
This essay discusses the intellectual contributions of five Jewish émigrés to the study of European economic history. In the midst of the war years, these intellectuals reconceptualized premodern European economic history and established the predominant postwar paradigms. The émigrés form three distinct groups defined by Jewish identity and by professional identity. The first two (Guido Kisch and Toni Oelsner) identified as Jews and worked as Jewish historians. The second two (Michal Postan and Robert Lopez) identified as Jews, but worked as European historians. The last (Karl Polanyi) was Jewish only by origin, identified as a Christian socialist, and worked first as an economic journalist, then in worker's education and late in life as a professor of economics. All five dealt with the origin of European capitalism, but in different veins: Kisch celebrated and Oelsner contested a hegemonic academic discourse that linked the birth of capitalism to Jews. Postan and Lopez contested the flip-side of this discourse, the presumption that medieval Europe was pre-capitalist par excellence. In doing so, they helped construct the current paradigm of a high medieval commercial revolution. Polanyi contested historical narratives that described the Free Market as the natural growth of economic life. This essay explores the grounding of these paradigms in the shared crucible of war and exile as Jewish émigrés. This shared context helps illuminate the significance of their intellectual contributions by uncovering the webs of meaning in which their work was suspended.
Keywords: Europe; European economic history; Jewish émigrés; KISCH, Guido; LOPEZ, Robert; OELSNER, Toni; POSTAN, Michael; biographical; economic history; historical literature; identity (philosophical concept); immigrants; intellectuals; medieval economic history; research

Processes of disembedding and displacement: anomie and the juridification of religio-ethnic identity in post-New Order Bali - Ramstedt, Martin (Asian Ethnicity, 2012)
This article applies Karl Polanyi's observation of a double movement of law in the history of nineteenth and early twentieth-century Europe to an analysis of Bali's integration into the global cultural economy. It describes how the increasing disembedding of the island's tourist industry from local norms and institutions, and the parallel disjuncture between Balinese religiosity and Indonesian state religion have created a condition of increasing collective anomie that has in turn provoked endeavors to juridify the Balinese religio-ethnic identity. Conceding the partial success of the juridification process that has been facilitated by the recent governance reform, and that has indeed effected a significant degree of re-embedding both tourism and religion into local culture, the article argues that not only has the anomic condition not been attenuated; the potential for internal conflict and division has even been enhanced.
Keywords: Bali; Balinese (Indonesian people); Europe; POLANYI, Karl, 1886-1964; anomie; decentralization; decentralization in government; disembedding; ethnicity; identity; juridification; religiousness

Solidarity Economy in Brazil: Movement, Discourse and Practice Analysis Through a Polanyian Understanding of the Economy - Lemaître, Andreia; Helmsing, A. H. J. (Bert) (Journal of International Development, 2012)
Solidarity economy (SE) initiatives constitute a worldwide phenomenon that is today at the heart of numerous economic and social debates. They are active in very diverse economic sectors, aiming for example to create employment for poor and low-qualified workers. We begin with presenting a Polanyian framework for the analysis of such economic activities, which enables us to develop a plural and integral conception of a productive organisation. We draw on Polanyi's thesis that economy is a political and institutionalised process and present a historic overview of the construction of the SE ‘sector’ in Brazil. We put forward the hypothesis that the SE today in Brazil represents a social movement. Then, we ask ourselves if the SE movement led to a change in grassroots economic initiatives, such as ‘people's cooperatives’. We present the results of exploratory research undertaken on 15 people's cooperatives in the State of Rio de Janeiro and its conclusions. Copyright © 2012 John Wiley & Sons, Ltd.
Keywords: Brazil; inclusion; international development; local development; people's cooperative; social movement; solidarity economy

Problems and opportunities in Polanyian analysis today - Holmes, Christopher (Economy & Society, 2012)
The three books under review in this article all demonstrate the beginnings of a shift in the tone of literature on or derived from the work of Karl Polanyi. On one hand, the authors all show a willingness to admit a variety of problems and weaknesses in his work. But on the other hand, it is precisely this degree of critical introspection that enables the authors under review to identify some of the most important and contemporarily relevant aspects of Polanyi's thought. In the two main sections of this article – on Polanyi's concepts of ‘embeddedness’ and ‘double movement’ – I define the problems highlighted in previous iterations of Polanyian literature, moving on to examine how the texts under review address those problems, laying particular emphasis on the ideational components of Polanyi's thought. I conclude by suggesting future directions for Polanyian scholarship, mooting the possibility of a distinctively ‘post-Polanyian’ perspective in which ideas, discourse and framing are placed centre stage.
Keywords: DALE, Gareth; HANN, Chris; HART, Keith; Karl Polanyi: The Limits of the Market (Book); Market & Society: The Great Transformation Today (Book); book review; discourse; double movement; economic anthropology: history, ethnography, critique; economic ideas; embeddedness; nonfiction; post-Polanyi

As especificidades da mercadoria força de trabalho: Marx revisitado - Antonio Vieira, Pedro (The specifities of the labor power commodity: Marx revisited (the labor power commodity: Marx revisited., 2012)
Coming along with Polanyi's ideas of fictitious commodity, this paper seeks to reveal the logical inconsistencies and silents in the economic science arguments on the labor force as a commodity. Once Marx's influence on the anti-capitalist movements is outstanding, we need to show his contribution, through his economic thought, to the scientific economism. As is well known, when proposed that the commodity sell by the worker was the 'labor force' instead the labor, as the classical economists used to say, Marx was able to built his theory on the capitalist economy theory, which relies on the concept of surplus value.. That is the reason why the paper is specially concern with the failures or weaknesses present in one of the huge Marx contribution to the economics thought: the concept of labor force. (English)
Keywords: MARX, Karl, 1818-1883; anti-globalization movement; capitalists & financiers; commercial products; economics; economism; economists; fictitious commodities; labor force; labor supply; labor-market; labour force; labour market; labour supply; political economy

Neoliberalismo Crisis Actual - Peck, Jamie (Documentos y Aportes en Administración Pública y Gestión Estatal, 2012)
The article discuss the characteristic of the current neoliberalism to understand it as a changeable and complex project whose economic and political sustainability is continuously reinvented and whose governance and spatiality is in need of being understood differently, if a viable alternative is to be constructed. Taking the recent neoliberal crisis as a point of departure, it discusses three main and interrelated aspects: firstly, the polymorphic characteristics of neoliberalism as a process in transformation; secondly, the way in which it could be acted against this neoliberal process by bringing some contributions from Polanyi back into the analysis so as to understand neoliberalism's dynamics; thirdly, the characteristics of some current policies taking place under neoliberal process, some of which could became viable alternatives in the long term. (English)
Keywords: 21st century; POLANYI, Karl, 1886-1964; crisis; economic history; global financial crisis, 2008-2009; neoliberalism; neoliberalismo; political philosophy; political practices; practical politics; prácticas políticas; world politics - economic aspects

The missing movement: a Polanyian analysis of pre‐crisis America - Herman, Dan (International Journal of Social Economics, 2012)
The purpose of this paper is to seek to apply Polanyi's theory of the double movement as a response to the effects of economic liberalization and globalization to the pre‐2007 American economy. In so doing, it seeks to ascertain the reasons why this assumed double movement did not materialize until after the post‐2007 global economic crisis. Design/methodology/approach – This paper is structured as a theoretical and historical analysis, building upon Polanyi's nineteenth century observations and applying them to contemporary policy economic and social experience in the USA in the late twentieth century. The argument proposes a correlation between the missing and/or delayed movement and the role of access to debt and participation in equity markets. Findings – This paper argues that Polanyi's concept of a societal countermovement has been absent from the post‐1970 period of economic liberalism and globalization until just recently due to an explicit attempt by the forces of capital to circumvent its role in lessening the harmful effects of American capitalism. In particular, the double movement that should have sought to lessen income inequality, unemployment and wage stagnation was instead replaced by access to cheap credit and the democratization of market investments that spurred consumer purchases and a false belief that what was good for the markets was good for working class Americans. Research limitations/implications – This paper highlights the need for ongoing research into the sociotropic nature of trade and of economic policy, and its evolution throughout the contemporary period of economic uncertainty and economic transition. Practical implications – The paper proposes several policy implications arising from the contemporary application of Polanyi's double movement, notably related to international trade and public and political support for ongoing trade liberalization. Social implications – This paper highlights important connections in the relationship between economic policy and the day‐to‐day lives of those who are governed by it. Building on “everyday political economy”, it provides a foundation for arguments that a new balance must be found between economic globalization and transnational capital interests and domestic stability. Originality/value – This paper promotes a novel approach to understanding the political economy of pre‐2007 America, in particular the reflexive nature of economic policy and societal perceptions.
Keywords: countermovement; double movement; economic liberalization; global economic crisis; globalization

L'idéologie marchande au service de la biodiversité ? - Tordjman, Hélène; Boisvert, Valérie (Mouvements, 2012)
Keywords: biodiversity; markets

Retour sur le désencastrement - Brisset, Nicolas (Revue européenne des sciences sociales. European Journal of Social Sciences, 2012)
Our ambition is to point out that a fresh look at what is usualy considered to be Karl Polanyi’s magnum opus, The Great Transformation, opens some new prospects on its analytical. This interpretation qualifies some of the Hungarian author’s main critics, directed against his concept of desembeddedness. With this aim in mind, we re-interpret this debate in epistemological terms, i.e. the link between concepts and reality ; then we try to connect Karl Polanyi with the notion of performativity, which is today flourishing, above all within the field of economic sociology.
Keywords: Great Transformation, The (Book); Karl Polanyi; disembeddedness; great transformation; performativity; realism

Karl Polanyi: The Limits of the Market - By Gareth Dale - Langton, Robert W. (Political Studies Review, 2012)
The article reviews the book "Karl Polanyi: The Limits of the Market," by Gareth Dale.
Keywords: DALE, Gareth; Karl Polanyi: The Limits of the Market (Book); book review; nonfiction

The point is to keep going: the global sub-prime mortgage crisis, local labour market repositioning, and the capital accumulation dynamic in Singapore - Lim, Kean Fan (Journal of Economic Geography, 2012)
The global subprime mortgage crisis in 2007–2008 led to an economic recession in Singapore, but the economy recovered strongly to post a 14.5% expansion in 2010. This article examines how labour market repositioning policies contributed to this recovery. Following Karl Polanyi's conceptualization of the economy as an ‘instituted process’, I explore how these policies function as state-driven redistributive strategies aimed at triggering reciprocal responses from employers and workers within the putatively self-regulatory local labour market. The Singapore case foregrounds the causal roles of place- and time-specific state–firm–labour interactions in precluding what Polanyi calls society's ‘double movement’ against market-driven regulation. This successful preclusion exemplifies how the conditions and relations of economic production are not reproduced solely through market exchange; to sustain the capital accumulation dynamic, complementary acts of reciprocity and redistribution from different socio-economic stakeholders could be equally, if not more, important.
Keywords: Singapore; capital accumulation dynamic; economic recovery; global financial crisis; instituted economy; labor market; local labour market; saving and investment; spatio-temporal variation; spatio–temporal fix

Development Theory and the Constitution of Market Society: A Polanyian View - Scott, Alan (Comparative Sociology, 2012)
Abstract This paper argues that development studies could benefit from a closer engagement with the arguments of Karl Polanyi. Firstly, a Polanyian perspective gives greater weight to non-economic and non-material factors in making, maintaining and modifying markets. Secondly, it focuses research on the problematic, state- sponsored and contested process of bringing the market actor into being. Finally, a Polanyian approach might better link a, broadly speaking, leftist analysis to 'real world' policy debates about the relative balance between market freedoms and regulation. The conclusion elaborates this final point.
Keywords: POLANYI, Karl, 1886-1964; development; disembedding and reembedding; economic development; financial crises; globalization; market making and modifying; mixed economy; neoliberalism; regulation

The peaceful conspiracy: bond markets and international relations during the Pax Britannica - Flandreau, Marc; Flores, Juan H. (International Organization, 2012)
This article provides foundations to K. Polanyi's famed argument that monopoly power in the global capital market served as an instrument of peace during the Pax Britannica (1815-1914). We focus on the role of intermediaries and certification. We show that when information and enforcement are imperfect, there is scope for the endogenous emergence of 'prestigious' intermediaries who enjoy a monopoly position and as a result, control government actions. They can implement conditional lending: they subject the distribution of credit to the adoption of peaceful policies. Prestigious intermediaries act that way because of their concern with maintaining an unblemished track record when wars increased risks of default. Our analysis, which brings together insights from different disciplines, provides a significant extension to, and departure from, recent research on how countries accumulate reputational capital.
Keywords: Pax-Britannica; United Kingdom; bond markets; economic history; global capital market (1815-1914); international relations

The roots of the global economic crisis (Respond to this article at http://www.therai.org.uk/at/debate) - Hart, Keith (Anthropology Today, 2012)
The world economic crisis should be seen as an episode in the history of money. “National capitalism” was the main way of organizing money in the twentieth century and its symbol was national monopoly currency. This system has been unravelling since the US dollar de-pegged from gold in 1971. The result is a disconnect between politics which are still largely national and the money circuit which is decentralized and global. The work of Georg Simmel and Karl Polanyi is enrolled to explain this development which entails the loss of money's physical substance, a shift in the social institutions supporting it and a break-up of the forms and functions of “all-purpose money”. The euro crisis reveals the historical mistake of treating market economy as a driver of society and politics. Good intentions at this stage will not reverse what has become a Greek tragedy in more senses than one.
Keywords: global economic crisis

Crise ? Vous avez dit : « Crise » ? - Naszályi, Philippe (Revue des Sciences de Gestion, 2012)
Crisis and institutional environment, crisis and organisational anticipations and crisis and consumer behaviour, just a few of the uses of the word « crisis » ; a word which, for over four years now, for the less perspicacious, and for over thirty years, for those who have been watching the bigger picture, has been the most appropriate word for this stage of development of the contemporary economic system. But exactly « what crisis are we talking about? ». That which is the result of a system, of an ideology which inhabits this system and of which the slightest of abilities was to try and present itself as unable to be exceeded, « by the end of the story ».' Yet, just as Max Weber stated, it seems that today's knowledge is still destined to be exceeded, particularly in the humanities, since society is constantly undergoing transformation. There is, therefore, no economic model which should not be discussed in order to be improved, or replaced. By delving into the ideal of Sismondi, today wrongfully forgotten, or in studying Karl Polanyi, we can gain much support for contemporary reflection which cannot continuously oppose Keynes, often summarised to the deficit of public policies and the « Chicago Boys » of which the action with Augusto Pinochet is truly symbolic of this « neo-liberalism» of American conservatives which is spreading across the globe, despite the crises which it has created. Crisis? Did you say: « Crisis' ? A question, and observation, but also in the manner of «great thinkers », solutions and alternatives which managers, in the widest sense of the term, « those who look after others and their businesses », provide through thirteen articles, collated into three thematic sections in this Spring edition which opens up new areas for reflection and action as « it is indeed time to put production before speculation, future investment before current satisfaction, sustainable employment before immediate profiteering ». (English)
Keywords: WEBER, Max, 1864-1920; consumer behavior; economic models; economic systems; humanities; institutional environment

Economic and Ecological Crises: Green new deals and no-growth economies - Jessop, Bob (Development, 2012)
Bob Jessop applies cultural political economy to the global economic and ecological crisis. He presents theoretical preliminaries concerning economic and ecological imaginaries, and then goes on to highlight the multidimensional nature of the current crisis and struggles over its interpretation.
Keywords: cultural political economy; ecological imaginary; economic imaginary; finance-dominated accumulation; finance-led accumulation; green new deal; neoliberalism; post-neoliberalism

What can Okun teach Polanyi? Efficiency, regulation and equality in the OECD - Hopkin, Jonathan; Blyth, Mark (Review of International Political Economy, 2012)
Arthur Okun famously argued that “effciency is bought at the cost of inequalities in income and wealth”. Okun's trade-off represents the antithesis to Karl Polanyi's view of the relationship that the more embedded markets are in society, the better the social and economic outcomes they produce. This paper refines both these views. We argue that not all forms of market embeddedness are created equal, and that the relationship between equality and efficiency can be both positive and negative. We show this by examining how different ways of embedding economic activity in society through market regulation produce different combinations of efficiency and equality. We identify empirically three broad patterns: market liberal regulatory frameworks that promote competitive markets without decommodifying institutions; embedded liberal regulations that allow markets to work efficiently, but within the framework of decommodification and equality; and embedded illiberalism, where regulations hinder markets in favor of powerful social groups and where decommodification undermines both efficiency and equality. Okun's trade-off emerges as a special case limited to the English-speaking democracies: other OECD countries tend to exhibit either efficiency and equality together, or inefficiency and inequality together. These findings suggest a corrective to both nave market liberal views of the incompatibility of efficiency and equality, but also to the more sophisticated Varieties of Capitalism framework, which pays insufficient attention to the ways in which markets can be embedded in stable but apparently dysfunctional institutional arrangements.
Keywords: OECD; OKUN, Arthur; critique; embeddedness; international political economy; regulation

A Handbook of Economic Anthropology, Second Edition - Carrier, James G. (Edward Elgar Publishing, 2012)
Acclaim for the first edition: 'The volume is a remarkable contribution to economic anthropology and will no doubt be a fundamental tool for students, scholars, and experts in the sub-discipline.' _ Mao Mollona, Journal of the Royal Anthropologica
Keywords: business & economics; cultural anthropology; cultural policy; economic anthropology; macroeconomics; political science; popular culture; public policy; social science

A Polanyian Analysis of Capitalism: A Commentary on Fred Block - Bandelj, Nina (Political Power & Social Theory, 2012)
This chapter responds to Fred Block's article about the weaknesses of the concept of capitalism because of its close association with Marxism, and his proposal for a Polanyian analysis of political economy. In this chapter, I interrogate what may be the commonalities as opposed to divergences between Marx and Polanyi, and I question whether the concept of capitalism is really so wedded to Marxism so as to loose its analytic value, and be better replaced by notions such as market society, or political economy, as used by Polanyi. I agree with Block that a Polanyian analysis importantly widens our view beyond economic reductionism to an understanding of economy and society as co-constitutive. However, I see utility in adding the qualifier "capitalist" to "political economy" to differentiate between socialist and capitalist political economies, for instance, and to properly characterize a system based on private property rights, guided by pursuit of material gain, which advantages some strata in society more than others, leading to endemic social inequality. I propose that a Polanyian focus on society and economy as co-constitutive is more effectively coupled with an analysis that considers capitalism not as a self-driven system of surplus extraction and accumulation, but as an institutional order dependent on political choices. Such a perspective would advance a Polanyian analysis of capitalism.
Keywords: BLOCK, Fred L.; Marxist philosophy; capitalism; economics; equality; market society; political economy; political science

Varieties of What? Should We Still Be Using the Concept of Capitalism? - Block, Fred (Political Power & Social Theory, 2012)
This article argues that social scientists should reconsider the analytic value of the term "capitalism." The paper argues that the two most coherent definitions of capitalism are those derived from classical Marxism and from the Worm System theory of Immanuel Wallerstein. Marx and Engels' formulation was basically a genetic theory in which the structure of a mode of production is determined by the mode of surplus extraction. During the course of the 20th century, however, Marxist theorists had to modify this framework and the result has been an uncomfortable hybrid. Wallerstein resolved these tensions by redefining capitalism in terms of the logic of a worm system. However, his argument has difficulty in explaining the consequential variations over time in the specific rules and institutional structures that operate at the global level. The article goes on to argue in favor of Karl Polanyi's concept of market society because it focuses attention on the political governance of market societies at both the national and the global levels.
Keywords: Marxist philosophy; capitalism; mixed economy; political science; public administration; variational principles

Double movements and pendular forces: Polanyian perspectives on the neoliberal age - Dale, Gareth (Current Sociology, 2012)
In the neoliberal era, Karl Polanyi’s notion of the ‘double movement’ has been widely deployed by social scientists as a critique of the prevailing order and a predictor of its demise. This article presents the double movement theorem, drawing upon Polanyi’s published and unpublished writings. It explores parallels between his explanation of the advent of the 19th-century free-market regime in Britain and recent Polanyian accounts of the rise of neoliberalism. Following an analysis of the ‘pendular’ refunctioning of Polanyi’s thesis, it closes by asking whether the recent global financial crisis heralds a pendulum swing from neoliberalism (or ‘market fundamentalism’) towards a form of socially coordinated capitalism, or towards ‘more of the same’. As of 2011, it appears that neoliberal policy and ideology remain hegemonic, not in reinvigorated form but as an ‘undead’ policy regime, one that has spawned a burgeoning literature on ‘zombie capitalism’ and ‘zombie neoliberalism’.
Keywords: Great Britain; Great Britain - economic conditions - 19th century; crise financière; crisis financiera; double movement; financial crises; financial crisis; free enterprise; international competition; mouvement double; movimiento doble; neoliberalism; neoliberalismo; néolibéralisme; social scientists; zombi; zombie

Marx, Weber, and the "Ceaseless Accumulation of Capital." - Ho-Fung Hung (Political Power & Social Theory, 2012)
Seeing capitalism as a system defined by the imperative of the ceaseless accumulation of capital, instead of using the definition based on wage labor or international trade as Block questions, I argue that the concept of capitalism is still too useful to be abandoned, and cannot be replaced by the Polanyian concept of market in our critique of political economy. As Fernand Braudel and Giovanni Arrighi contend, the capitalist logic of capital accumulation, which is affined to monopoly and state power, is antithetical to the logic of market exchange, which is decentralized and prioritizes livelihoods over profits. Historically, capitalism sometimes made use of the market and sometimes subjugated the market to facilitate accumulation. Likewise, globalization today is a combined movement of expanding free market in certain aspects of life through financial deregulation, privatization, trade liberalization, etc. on the one hand, and exclusion of various processes and costs outside the market through revival of extra-economic coercion, externalization of environmental costs, etc., on the other hand. The imperative of capital accumulation drive capitalists and capitalist states to foster marketization and demarketization in different times and spaces. The critique of and resistance to our capitalist system needs to be antimarket in some instances and pro-market in others. A Polanyian critique of the free market is surely powerful and helpful, but it is not enough for our full understanding of the economic malaises of our times. It is at best counterproductive to throw away the concept of capitalism altogether.
Keywords: ARRIGHI, Giovanni; BLOCK, Fred; BRAUDEL, Fernand, 1902-1985; capitalism; economics; globalization; international trade; wages

Dispossession, Class Formation, and the Political Imaginary of Colombia's Coffee Producers Over the Longue Durée: Beyond the Polanyian Analytic - Hough, Phillip A.; Bair, Jennifer (Journal of World-Systems Research, 2012)
For more than a decade, social scientists have been analyzing the implications of the neoliberal turn in development policy and the implications of market-led agrarian reform for agricultural producers in the global South. Among this work is a spate of recent scholarship celebrating a number of flagship movements, such as the Zapatistas in Mexico or the landless movement in Brazil, which are interpreted as efforts by rural communities to resist the threat posed by the commodification of livelihoods and the privatization of natural resources. In this article, we aim to problematize what we diagnose as the "Polanyian analytic" underlying accounts of the current conjuncture which emphasize the imminent potential of neoliberalism to spawn protective counter-movements of the sort described in The Great Transformation. We do so through an analysis of the Unidad Cafetero Nacional (UCN) movement, an organization of Colombian coffee farmers that effectively mobilized large numbers of cafeteros in the 1990s to protest the liberalization of the global coffee market and the decline of state support for the domestic coffee sector. While the UCN may be read as a struggle to resist the dispossession of Colombian coffee farmers, we argue that it represented a particular segment of rural producers who wanted, first and foremost, a restoration of their relatively privileged status within the political economy of Colombian agriculture. Our interpretation of the UCN suggests that whether movements emerge in response to neoliberalism depends on the political imaginaries of the social actors who would create them, and further, that these imaginaries are produced through processes of class formation over the longue durée that shape the meaning of dispossession in particular contexts.
Keywords: Colombia; agriculture; coffee growers; coffee plantations; commodification; liberalization (finance); neoliberalism; privatization

On Fred Block, Varieties of What? Should We Still Be Using the Concept of Capitalism? - Streeck, Wolfgang (Political Power & Social Theory, 2012)
There are good reasons for preferring the concept of capitalism over that of "market economy." A capitalist economy is one that depends on the commercialization-through-monetarization of ever more social relations. The result is disequilibrium as the normal condition of a society placed under pressure by its "economy" for continuous reorganization in line with a need for ongoing capital accumulation. A capitalist society enlists the possessive individualism of its members as its principal vehicle of social progress, measured as an increase in wealth-as-money. While Polanyian theory has pointed out important features of advanced capitalist societies, there is no need to sacrifice core Marxian concepts for it. Marxian theory helps avoid the trap of political voluntarism, which stipulates a priority of politics in the capitalist political economy or a fundamental difference between "varieties" of capitalism. Moreover, rather than regarding the capitalist economy as by definition "always embedded," political-economic theory must allow for a self-destructive, and indeed socially destructive, tendency of capitalist political economies to "disembed" themselves by struggling free from social controls and dictating to social life the imperatives of market efficiency and a market-conforming distribution of life chances.
Keywords: BLOCK, Fred L.; Marxist philosophy; always embedded economy; capitalism; equilibrium (economics); saving and investment; social control; social theory; varieties of capitalism

Fight or Acquiesce? Religion and Political Process in Turkey's and Egypt's Neoliberalizations - Tuğal, Cihan (Development & Change, 2012)
The Polanyian expectation that disruptive marketization will lead to movements and policies that seek to 'embed' the market in society needs to be tempered by closer scrutiny to historical, religious and political contexts. This article studies how movements respond to marketization. The analysis proceeds through a comparison of the Turkish and Egyptian neoliberalizations, religious movements of the last decades, secular opposition, and finally recent processes, which have led to generally different social takes on neoliberalism. The irony of the Turkish case is that with the empowerment of the Islamists, religious opposition to neoliberalism was muted and secular opposition further marginalized and labelled as 'anti-democratic'. As a result, free market policies were not only sustained, but deepened and intensified, turning Turkey into a neoliberal 'success story'. The (thus far) sustained mobilization of youth and labour in Egypt makes a direct imitation unlikely. Another major factor that would prevent a 'Turkish' solution to Egypt's crisis is the contrasting structure of the religious fields. Moreover, while the passive revolution has further solidified the professional and unified religious field in Turkey, the revolutionary process in Egypt seems to reinforce the fragmentation of the religious field. The article points out that making Islam compatible with neoliberalism would be more difficult in a country with a fragmented religious field, such as Egypt. Although neoliberalism was imposed from above and resisted from below in both nations, in Turkey it came to be embraced in the name of Islam and democracy, whereas in Egypt it remains an imposition and popular struggles against it persist. It is suggested that this process and field-based approach to a Polanyian problem can also shed new light on discussions about 'actually existing neoliberalisms'.
Keywords: Egypt; Turkey; Turkey - economic conditions - 1960; economic conditions in Egypt - 1952; economic policy; economics - religious aspects - Islam; neoliberalism; religion & politics

Global Climate Governance: A Legitimation Crisis - Van Vossole, Jonas (Review: A Journal of the Fernand Braudel Center, 2012)
This article frames the failure of COP19 in Warsaw, the problems of the RIO+20 summit, the failure of the Copenhagen COP15, and the problems of the carbon markets within a broader legitimacy crisis of global governance, a consequence of the crisis of the global capitalist socio-ecology. Two mechanisms give rise to the loss of legitimacy: unequal development and mercantilization, or the reconfiguration of the power balance and the destruction of social ties. As a consequence, both winners and losers contest the legitimacy of the institutions and mechanisms that govern global capitalism. In this article, we distinguish between Marx-type contestation, referring to emerging classes/states, and Polanyi-type contestation, referring to the victims of global mercantilization. As related to climate governance, the roles of the BRICs in climate negotiations and the global environmental justice movement represent these two types of contestation of the established organizational structures within the global capitalist socio-ecology.
Keywords: 21st century; BRICS countries - environmental conditions; BRICS countries - politics & government; MARX, Karl, 1818-1883; alienation; capitalism; climate governance; decision making in environmental policy; globalization & politics; history; organizational legitimacy; power (social sciences); research

Textos escogidos. Karl Polanyi - Coraggio, J.L. (Buenos Aires : Consejo Latinoamericano de Ciencias Sociales (CLACSO) ; Los Polvorines, Provincia de Buenos Aires : Universidad Nacional de General Sarmiento, 2012)
Contents of book: Primera parte: Karl Polanyi y su obra: Actualidad de Karl Polanyi / Jean-Louis Laville. Karl Polanyi : su vida y época / Marguerite Mendell y Kari Polanyi Levitt. Karl Polanyi y la otra economía en América Latina / José Luis Coraggio -- Segunda parte: Los ensayos de Karl Polanyi: El lugar de las economías en las sociedades (1957) ; La economía como proceso instituido (1957) ; Aristóteles descubre la economía (1957) ; Feudalismo primitivo y feudalismo de la decadencia (1950) ; Marxismo e historia económica (comentario a Maurice Dobb) (1947) ; Comerciantes y comercio (1951) ; Semántica de los usos de la moneda (1957) ; Economía y democracia (1932) ; La esencia del fascismo (1935). El fascismo y la terminología marxista (1934) ; El marxismo redefinido (1934) ; Marx sobre el corporativismo (1934-1937) ; El cristianismo y la vida económica (1934-1937) ; Comunidad y sociedad : la crítica cristiana a nuestro orden social (1937) ; ¿Capitalismo universal o planificación regional? (1945) ; El significado de la democracia parlamentaria (1944-1945) ; Nuestra obsoleta mentalidad de mercado (1947) ; Sobre la creencia en el determinismo económico (1947) ; Jean-Jacques Rousseau o ¿Es posible una sociedad libre? ; La libertad y la tecnología (1955) ; La máquina y el descubrimiento de la sociedad (1957) ; La libertad en una sociedad compleja (1957) ; La sociedad opulenta según Aristóteles (1959).
Keywords: antropología económica; economic anthropology; economic history; economics; economía; historia económica

Shareholder Engagement in the Embedded Business Corporation: Investment Activism, Human Rights, and TWAIL Discourse - Dhir, Aaron (Business Ethics Quarterly, 2012)
The expansion of extractive corporations’ overseas business opera-tions has led to serious concerns regarding human rights–related impacts. As these apprehensions grow, we see a countervailing rise in calls for government interven-tion and in levels of socially conscious shareholder advocacy. I focus on the latter as manifested in recent use of the shareholder proposal mechanism found in corporate law. Shareholder proposals, while under-theorized, provide a valuable lens through which to consider the argument that economic behaviour is embedded within so-cial relations. In doing so, I situate my analysis within Third World Approaches to International Law (TWAIL) scholarship. Elsewhere, I have supported the use of corporate law tools in advancing the international human rights enterprise and argued that investment activism can be an essential component of this advancement. This paper represents a reflexive pause. Using the case study of a recent proposal submitted to Goldcorp Inc., I seek to problematize the shareholder proposal as a human rights advocacy tool and to examine it as a site of contestation.
Keywords: Third World Approaches to International Law; corporate accountability; corporate law; law; shareholder rights

Embeddedness and regional integration: waiting for Polanyi in a Hayekian setting - Hopner, Martin; Schêfer, Armin (International Organization, 2012)
This article analyzes the social potential of regional integration processes by using the example of European integration. Recent case law from the ECJ has led some observers to argue that judicial decisions increasingly provide European politics with a ôPolanyianö drive. We test this claim by distinguishing three dimensions to European economic and social integration: market-restricting integration, market-enforcing integration, and the creation of a European area of nondiscrimination. We also identify two forms of integration that have different speeds, scopes, and potentials: political integration and judicial integration. The evidence shows that the EU has come closer to Hayek's vision of ôinterstate federalismö than is usually warranted because market-enforcing integration and European nondiscrimination policies have asymmetrically profited from ôintegration through lawö.
Keywords: European-integration; HAYEK, Friedrich A. von (Friedrich August), 1899-1992; embeddedness; regional integration; regional-integrationá

A Handbook of Economic Anthropology, Second Edition: Orientations: Karl Polanyi - Isaac, Barry L. (A Handbook of Economic Anthropology, Second Edition, 2012)
Keywords: capitalist systems; economic anthropology; economic history; economic sociology; history of economic thought: individuals; political economy; social and economic stratification

Understanding the “economization” of social formations - Jessop, Bob (The marketization of society: economizing the non-economic - Editors - Uwe Schimank, Ute Volkmann, 2012)
A critical review of nine dimensions of economization of social relations and their repercussions on societal dynamics. Discusses fictitious commodification, financialization, finance-dominated accumulation, and issues of ecological dominance. Bibliographic note: Book contains selected papers from conference on Marketization of Societies, organized at Bremen University, 1-2 June 2012. This is the pre-print version of a planned conference collection with a commercial publisher.
Keywords: fictitious commodification; fictitious commodities; financialization

Karl Polanyi E O ‘Grande Debate’ Entre Substantivistas E Formalistas Na Antropologia Econômica (Karl Polanyi and the 'Great Debate' Between the Substantivists and Formalists in Economic Anthropology) - Machado, Nuno Miguel Cardoso (Social Science Research Network, 2012)
Na raiz do pensamento Polanyiano, encontra-se a distinção entre economia no sentido substantivo e economia no sentido formal. Com efeito, a concepção substantivista que define a economia como um processo instituído de interação entre o homem e o ambiente natural e social que o rodeia e resulta em contínua oferta de meios para satisfazer as necessidades humanas constitui a base do método preconizado pelo autor: a análise institucional. Com tal distinção, Polanyi (1977a) pretende evitar a "falácia economicista" que consiste na identificação automática da economia com sua forma de mercado. Ao contrário, só na moderna economia capitalista é que um "sistema de mercados formadores de preços" desempenha papel fundamental. Essas questões foram alvo de um "Grande Debate" entre as correntes substantivista – encabeçada por Polanyi – e formalista no contexto da disciplina da Antropologia Econômica.At the root of Polanyian thought, a distintiction can be found between the substantive and formal concepts of the economy. In fact, the substantivist conception, that defines the economy as an instituted process of interaction between man and its natural and social environment, which results in a continuous supply of material means to meet human needs, constitutes the basis of the method recomended by the author: institutional analysis. With this distinction, Polanyi intends to avoid the "economistic fallacy", which consists of the automatic identification of the economy in its market form. Only in the modern capitalist economy does a system of "price-making markets" play a fundamental role. These questions were amply discussed in the so-called "Great Debate" between the substantivist and formalist schools of thought in the discipline of Economic Anthropology. in Economia e Sociedade, Vol. 21, No. 1 (44), pp. 165-195
Keywords: economy; formalism; institutional analysis; market; substantivism

The Fundamental and Eternal Conflict - Parguez, Alain (International Journal of Political Economy, 2012)
This contribution aims at exploring what is today the new "normal" in economic policy, namely, austerity. It must be read as a homage to Karl Polanyi, the first who understood the tragedy, and to Kari Polanyi-Levitt, who expanded on her father's thought. Austerity has nothing to do with old anticyclical or stabilizing policies. It is a permanent regime devoid of any sound foundations. It is a pure quasi-religious policy that is self-reinforcing. The author emphasizes the fundamental conflict between its promoter, Friedrich Hayek, and its adversary, John Maynard Keynes, and points to the sole towering intellectual, Karl Polanyi, who understood that their conflict embodied two radically different visions of the world. Polanyi discovered that the core of the conflict was the merciless fight between the supreme rule of God-given market laws, the Hayekian order, and democracy enshrined in a peaceful society that is oriented toward the future. The Hayekian order abolishes the modern democratic state, sacrifices the future, and extols poverty for the sake of order. Polanyi was the first to have discovered the true message of Keynes, who had destroyed the logical foundations of Hayek's philosophy and economics. In conclusion, the author strives to explain why, early in the twenty-first century, the Hayekian legacy is the true road to serfdom because it ignores Polanyi and encourages belief in market laws. Early American "Keynesians," who knew nothing about Hayek, transformed Keynes into a new Léon Walras. These early Keynesians were doomed from the start and vanished when they endorsed the Philips curve as expressing the absolute truth.
Keywords: HAYEK, Friedrich A. von (Friedrich August), 1899-1992; KEYNES, John Maynard, 1883-1946; Keynesian economics; The General Theory of Employment, Interest & Money (book); austerity; banking industry -- Social aspects; consumption (economics); economic history; employment (economic theory) - social aspects; equilibrium (economics); flexibility; free enterprise; government policy; history of economics - 20th century; international political economy; investments - social aspects; market laws; mixed economy - social aspects; money; money - social aspects; scarcity - social aspects; state

Neoliberalism through the Lens of 'Embeddedness' - Paton, Joy (Neoliberalism: Beyond the Free Market, 2012)
Keywords: capitalist systems; history of economic thought: individuals; history of economic thought: macroeconomics; political economy

Critique of Current Neoliberalism from a Polanyian Perspective-Politics, Philosophy, and Economics - Seccareccia, Mario (International Journal of Political Economy, 2012)
An introduction is presented which discusses articles within the issue on topics including neoliberalism, the Austrian economist Karl Polanyi's perspective on the history of industrial society during the nineteenth and twentieth centuries and free enterprise.
Keywords: POLANYI, Karl, 1886-1964; free enterprise; neoliberalism; political economy

La société contre le marché - Skornicki, Arnault (The Life of Ideas, 2012)
A propos de : Karl Polanyi, La Subsistance de l'homme. La place de l'économie dans l'histoire et dans la société, Flammarion
Keywords: capitalisme; commerce; marché

Contrastes entre las reformas laborales del Japón y la República de Corea - Yun, Ji-Whan (Revista Internacional del Trabajo, 2011)
El Japón y la República de Corea acometieron a finales de los años noventa una serie de reformas del mercado de trabajo que se han presentado muchas veces como meramente flexibilizadoras. Sin embargo, el autor sostiene —sobre la base del concepto de «doble movimiento» de Polanyi— que los dos conjugaron las medidas liberalizadoras con otras en pos de la estabilidad social. Tras estudiar las leyes adoptadas por uno y otro para reformar su mercado de trabajo y atenuar la dualidad del mismo, afirma que las diferencias se deben a que tienen procedimientos y entornos distintos para fijar sus líneas políticas.
Keywords: Corea; Japan; Japón; República de; comentario; flexibilidad del trabajo; política laboral; protección social; segmentación del mercado de trabajo; seguridad del empleo

Les réformes du marché du travail au Japon et en République de Corée: étude de cas comparée de l'élaboration des politiques dans les années 2000 - Yun, Ji-Whan (Revue internationale du Travail, 2011)
Dès la fin des années 1990, le Japon et la Corée ont entrepris des réformes du marché du travail souvent présentées comme un simple processus d'assouplissement. Partant, toutefois, de la perspective du «double mouvement» de Polanyi, l'auteur étudie la façon dont ces pays ont intensifié leur recours au marché tout en recherchant la stabilité sociale. Passant en revue les mesures législatives liées à la libéralisation de l'emploi et à la garantie de revenus, il analyse les différentes méthodes adoptées par ces deux pays pour réformer leur marché du travail. En conclusion, il avance que leurs voies de réformes divergentes tiennent à la spécificité des mécanismes utilisés pour élaborer leurs politiques ainsi qu'au contexte propre à chacun d'entre eux.
Keywords: Corée R; Japan; Japon; commentaire; flexibilité du travail; politique du travail; protection sociale; segmentation du marché du travail; sécurité de l'emploi

Territoire, innovation et développement durable : l'émergence d'un nouveau régime conventionnel? - Buclet, Nicolas (Revue d'Économie Régionale & urbaine, 2011)
ENG TITLE: Territory, innovation and sustainable development: towards a new conventional regime? ABSTRACT: The paper examines the increasing number of diverse local development initiatives around the world aiming to break away from the predominant economic system. These initiatives, we argue, despite a somewhat visible disparity, largely rest on relatively similar principles, values and references. We argue that they are effectively laying the foundation for a new conventional regime more attuned to sustainable development goals. The paper analyses the characteristics of this regime, which refuses market dominance and favours reciprocal exchanges, as defined by Karl Polanyi. It is, nevertheless, necessary to question the potential and limitations of this conventional regime. (English)
Keywords: Territoire; conventions; development economics; développement durable; economic development; economics; environment; innovation; mathematical models; sustainable development; territory

Beyond Neoliberalism? Crisis and the Prospects for Progressive Alternatives - Cahill, Damien (New Political Science, 2011)
The onset of the current global economic crisis was hailed by many as signalling the demise of neoliberal hegemony. Two years on however, neoliberalism appears to be quite durable. Indeed, after a brief period of Keynesian-type responses, states, on the whole, have embraced neoliberal solutions to the fiscal problems generated by the crisis. Greece, for example, is now following an IMF programme of privatisation and cuts to social expenditure, while other European nations are pursuing austerity policies. In the USA, state and municipal governments are selling off public assets in response to mounting deficits. This paper explains the durability of neoliberalism and the opportunities and challenges it creates for non-neoliberal progressive policy agendas. Drawing upon Karl Polanyi's conceptual framework, this paper argues that neoliberalism is best understood as a historically specific process of state and economic restructuring that is socially embedded through three mechanisms: ideological norms, class relations, and institutional rules. This paper examines responses by states to the crises and concludes that, although the ideological legitimacy of neoliberalism has been somewhat weakened, there is little evidence to suggest that the three mechanisms, through which neoliberalism is socially embedded, have been significantly eroded. The implication for progressive politics is that, just as neoliberalism is socially embedded, so would a successful progressive non-neoliberal political programme need to be socially embedded: through the articulation of a coherent alternative ideology; through the mobilisation of social forces; and through the institutionalisation of non-neoliberal rules and norms within the apparatuses of the state.
Keywords: Keynesian economics; economic policy; global financial crisis, 2008-2009; neoliberalism; progressivism; social embeddedness

Toward a new countermovement: a framework for interpreting the contradictory interventions of migrant civil society organizations in urban labor markets - Martin, Nina (Environment & Planning A, 2011)
Low-wage migrant workers in the United States confront a perilous labor market, where wages are low, the risk of injury on the job is high, and the fear of apprehension by immigration authorities is widespread. There is increasing empirical evidence that civil society organizations are becoming involved in mediating labor-market problems, but work remains to be done in developing a robust theoretical conception of why such organizations are involved in this arena and how we might evaluate the impacts of their interventions. This paper presents a framework for interpreting the role of migrant civil society organizations as labor-market intermediaries, by extending Karl Polanyi's theory of the 'double movement' and more recent writing to neoliberalism and precarious work. On the basis of data collected from migrant nonprofit organizations in Chicago, I theorize migrant civil society organizations as part of the creation of a new countermovement that protects the interests of both workers and employers from the destructive nature of an unregulated labor market, as predicted by Polanyi. I catalogue organizations' responses to precarious work and create a generalizable framework for evaluating the contingent outcomes of their strategies. Organizations' work is interpreted as complex and sometimes contradictory: the potential to shield workers and advocate for progressive change is in constant tension with the neoliberal patterns of state and economic restructuring that such organizations can support.
Keywords: United States; civil society; immigrants; industrial mediation; labour market; migrant labor; migrant labour; neoliberalism; salaries, wages, etc.; societies, etc.

Embedded Markets: A Dialogue between F.A. Hayek and Karl Polanyi - Migone, Andrea (Review of Austrian Economics, 2011)
The recent economic crisis has once more underscored the close connection between markets and social life, thrusting this point at the centre of the analysis of economic and political activity and has once more asked the question of whether and how individuals are embedded in both. Here I argue that an analysis and partial reconciliation of the positions of F. A. Hayek and Karl Polanyi on the topic can help in this debate.
Keywords: HAYEK, Friedrich A. von (Friedrich August), 1899-1992; capitalist systems; embedded markets; history of economic thought

Produktion - Distribution - Ökonomie. Siedlungs- und Wirtschaftsmuster der Latènezeit - Mölders, Doreen (H-Net Reviews in the Humanities & Social Sciences, 2011)
The article reports on a conference on the economic history of the Latène period of the European Iron Age, held in Otzenhausen, Germany, from November 28-30, 2011. Topics discussed included theories of economy and society during this era, particularly that of Austrian economist Karl Polanyi, economic archaeology research, and the trade networks of traditional societies.
Keywords: Europe; LA Tene period; POLANYI, Karl, 1886-1964; TO 500; archaeology research; commerce; congresses; economic history; history; iron age; traditional societies

Penser l’institution et le marché avec Karl Polanyi - Maucourant, Jérôme; Plociniczak, Sébastien (Revue de la régulation. Capitalisme, institutions, pouvoirs, 2011)
Bien que Karl Polanyi (1886-1964) n’ait jamais eu pour ambition « d’élaborer une théorie complète des institutions économiques », ce texte met en évidence qu’il y a, dans son œuvre, une analyse aussi implicite que profonde du marché appréhendé comme institution ou « processus institutionnalisé ». À l’encontre de la croyance économique conventionnelle, l’œuvre de Polanyi permet de comprendre que le marché, n’est ni spontané ni autorégulateur. Plus encore, à suivre Polanyi, le capitalisme ou « société de marché » se caractérise par un fait culturel spécifique : la croyance utopique en l’autorégulation marchande. Une origine de la crise économique actuelle peut ainsi être mise en évidence. Plus généralement, tout économiste contemporain soucieux des problématiques de l’institution et du marché peut, avec Polanyi, resituer de façon novatrice les marchés au sein des contextes socio-historiques dans lesquels ils se déploient. ENG translation: Although Karl Polanyi (1886-1964) never had the ambition "to elaborate a complete theory of economic institutions", this text emphasizes that there is in his work an analysis both implicit and profound Market as an institution or "institutionalized process". Contrary to conventional economic belief, Polanyi's work makes it possible to understand that the market is neither spontaneous nor self-regulating. Moreover, to follow Polanyi, capitalism or "market society" is characterized by a specific cultural fact: the utopian belief in mercantile self-regulation. An origin of the current economic crisis can thus be highlighted. More generally, any contemporary economist concerned with the problems of the institution and the market can, with Polanyi, innovatively place markets in the socio-historical contexts in which they unfold.
Keywords: capitalisme; crise; encastrement; institution; marché autorégulateur; marchés; société de marché; utopie

The social economy of new rural reconstruction - Jia'en, Pan; Jie, Du (China Journal of Social Work, 2011)
This paper employs the concept of ‘social economy’ to reflect on the authors' experiences in rural reconstruction efforts in Mainland China, including work on peasant cooperatives and community-supported agriculture. In practice, the social and the economic can never be clearly separated. Economic problems, which may superficially appear to be independent, are in fact over-determined by all kinds of social and cultural factors, so a holistic perspective of ‘social economy’ is needed to re-embed the economic into its social context. Such a perspective can help expand the space of our practice and reflection thereon, in particular helping practitioners to understand the difficulties encountered in rural reconstruction.
Keywords: China; new rural reconstruction; perspective; social economy

KARL POLANYI'S METACRITIQUE OF THE LIBERAL CREED Reading Polanyi's Social Theory in Terms of Dialectical Critical Realism - Despain, Hans G. (Journal of Critical Realism, 2011)
This paper interprets Karl Polanyi through dialectical critical realism. The paper maintains that this interpretation offers Polanyi methodological coherence and philosophical support. It further provides dialectical critical realism with an exemplar of explanatory critique. It is argued that the social theory of Polanyi aims at the demystification of market-systems as they are theoretically constructed by both orthodox and heterodox accounts of capitalism. Dialectical critical realism is best capable of situating the theoretical accomplishment of Polanyi's historical and dialectical critiques of social being.
Keywords: capitalism; critical realism; economic theory; economics; explanatory critique; liberal creed; neoliberalism; ontology; social history; social theory

The Embedded Market and Ideology Critique - Johnson, Pauline (Critical Horizons, 2011)
The article examines the ideology critical potentials of the concept of the embedded market, made famous by philosopher and economic historian Karl Polanyi. It explores several readings of this concept and assesses their ability to revive critical powers of sociology. It discusses the book "The New Spirit of Capitalism," by Luc Boltanski and Eve Chiapello, as a specific take on such an idea. It also offers a re-examination of Polanyi's interpretations of the embedded markets thesis.
Keywords: Boltanski and Chiapello; embedded markets; ideology; neoliberalism; philosophers; philosophy; social theory; sociology

Les sciences sociales africanistes à l’épreuve des projets de développement. Peuvent-elles dépasser l’opposition entre l’universalisme de l’économie et le relativisme de l’anthropologie ? - Hugon, Philippe (Cahiers d’études africaines, 2011)
RésuméLes disciplines économiques et anthropologiques, notamment africanistes, ont été généralement caractérisées par des exclusions et des cloisonnements. L’économie s’intéresse principalement aux sociétés marchandes et capitalistes occidentales et mobilise des catégories à vocation universelle alors que l’ethnologie ou l’anthropologie prennent pour champ les sociétés « primitives » exotiques ou premières, et privilégient les catégories et représentations des acteurs. Le champ du développement a été un lieu de rencontre obligé des deux disciplines. L’économie a cherché à aborder les sociétés non occidentales et l’anthropologie a été confrontée aux projets de développement. Cet article rappelle les oppositions historiques entre les éclairages économiques et anthropologiques avant de présenter certains enjeux méthodologiques et épistémologiques d’une anthropologie économique du développement en l’illustrant par la filière coton., Abstract ENG: Economics and anthropology as africanist social sciences have known a separate evolution. Economics are mainly interested by capitalism and Western societies and mobilize universalist concepts. Ethnology or anthropology on the other hand study more traditional, “primitive” or exotic societies. Howewer the two meet and have some confrontation when they study development. Firstly, this article recalls the historical oppositions between the economical and the anthropological points of view. Secondly, it presents some of the methodological and epistemological stakes of development economic anthropology. Lastly this paper illustrates this debate in examining the case of the chain value within the economic overall process of coton production and exchange.
Keywords: africanist social science; cotton production; exchange

Work and Neoliberal Globalization: A Polanyian Synthesis - Bandelj, Nina; Shorette, Kristen; Sowers, Elizabeth (Sociology Compass, 2011)
This article reviews sociological research about economic globalization’s impact on work and labor in developed and developing countries since the 1980s. We find that this period of neoliberal globalization influences work because of intensified activities of multinational corporations (MNCs), financialization of the global economy, and amplified prominence of international organizations, some of which diffuse neoliberal policy scripts while others mobilize a transnational civil society. Research we review generally points to liabilities of neoliberal globalization for workers. To understand these findings, we apply Karl Polanyi’s concepts of fictitious commodities, the self-regulating market, and the double movement. We propose that, on the one hand, the activities of MNCs, international financial organizations, and many states exemplify pushes for institutional separation of economy and society in effort to institutionalize the idea of a self-regulating market at a global scale, which increases labor commodification and global inequalities. On the other hand, the activities of social movements, including unions and transnational actors that target globalization’s impact on work, constitute the counter movement at national and global levels resisting marketization and pushing for labor decommodification. The aftermath of the ongoing economic crisis will tell to what extent this countermovement will be successful in generating an alternative to neoliberal globalization, and more protections for workers.
Keywords: double movement; fictitious commodities; globalization; neoliberalism; self-regulating market

Polanyi and Post-neoliberalism in the Global South: Dilemmas of Re-embedding the Economy - Sandbrook, Richard (New Political Economy, 2011)
Although Karl Polanyi Studied a different epoch and focused on Europe, his ideas have inspired an outpouring of studies on contemporary problems and prospects in the neoliberal era. 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 development alternatives in the Global South? I contend that democratic socialism – Polanyi's preferred remedy to the ‘demolition’ of society and nature occasioned by market civilisation – is problematical in light of what we have learned from the twentieth century, but his framework for evaluating alternatives – featuring the re-embedding of economy in society – remains as powerful as ever, I support this argument with an exploration of socialism and social democracy – as well as community – based alternatives arising from ‘reciprocity’. Each possibility raises distinctive dilemmas, as an analysis of cases reveals.
Keywords: Global South; communitarianism; development alternatives; global south; globalisation; globalization; political economy; post-neoliberalism; social democracy; socialism

Embedding Markets in Temporal Structures: A Challenge to Economic Sociology and History - Eisenberg, Christiane (Die Einbettung von Märkten in temporalen Strukturen: Eine Herausforderung für Wirtschaftssoziologie und Geschichte., 2011)
The essay examines from a historian's point of view the approaches to the analysis of market exchange in new economic sociology and explores in which way sociology and history can cooperate in embedding markets in temporal structures. In a first step the author sharply criticises the favourable reception given to Karl Polanyi's work "The Great Transformation" in the field of new economic sociology. In particular she discusses the narrowing of research perspectives and its negative side effects on the sociology of markets. There then follows a second step: in order to find a linking point for interdisciplinary cooperation, beginning with the current state of historical research, the author makes several considerations on the significance of temporal structures and the time factor in general in analysing markets and market societies.
Keywords: Continental Europe; England; Great Britain; economic history; economic sociology; history - methodology; interdisciplinary approach to knowledge; interdisciplinary research; longue durée; market society; socioeconomics; time structures

Contracts in the English NHS: Market levers and social embeddedness - Hughes, David; Petsoulas, Christina; Allen, Pauline; Doheny, Shane; Vincent-Jones, Peter (Health Sociology Review, 2011)
This paper draws parallels between the market trend in the English NHS and Polanyi's (1957) The Great Transformation account of how the rise of markets provokes a self-protective counter-reaction that tries to re-embed economic relations in social relations. We report findings from a qualitative study of NHS contracting, which examines the recent move to harder-edged contracts with greater use of financial penalties and incentives. In practice, use of these techniques tended to be confined to nationally-mandated sections of the contract rather than emerging from local bilateral agreements, and when things went wrong the parties relied more on cooperative behaviour than on the provisions of the contract to find solutions. Making the current contracting system work depended more on existing relational networks than on the incentive structures created by recent 'marketisation' initiatives, but the inability of the market to evolve as expected has encouraged policy makers to publish plans for further radical reforms.
Keywords: England; English NHS; NHS reforms; competition (economics); contracting; contracting out; cooperativeness; decentralization in management; financing of research; government agencies; health sociology; incentives in industry; information storage & retrieval systems - medical care; institutional cooperation; interviewing; marketisation; meetings; methodology; national health services; negotiation; organizational effectiveness - evaluation; organizational structure; organizational change; pay for performance; purchaser/provider relations; qualitative research; research methodology; risk management in business; secondary analysis; social context; sociology; theory

Nature, Capital and Neighborhoods: 'Dispossession without Accumulation'? - Kappeler, Aaron; Bigger, Patrick (Antipode, 2011)
The ongoing economic crisis, which originated in the USA and has since spread rapidly to capital markets worldwide, is massive, complex, and many times contradictory. One could say the same for responses to the crisis as governments, firms and multi-national institutions struggle to grasp the full magnitude of the event. This article interrogates the key commodities involved-land, labor and money-and the always-uneasy relations between spaces of social reproduction and capital. Such ambivalence is critical to understanding how new economic realities are formed in light of retreating neoliberalism as markets become destabilized. The analysis provided suggests the commodities involved in the housing crisis are the basis for a countermovement against dispossession.
Keywords: MARX, Karl, 1818-1883; United States; capital market; capitalism; housing market; international business enterprises; labor; labour; mixed economy; neoliberalism; social aspects

The Commodification of Pollution and a Preemptive Double Movement in Environmental Governance: The Case of Water Quality Trading - Mariola, Matt J. (Organization & Environment, 2011)
The management of environmental pollution has traditionally been accomplished via the regulatory power of the state, but more recently the rise of a new, market-based form of governance has been observed. This article examines the sector of water quality trading, in which caps are placed on surface water pollution and polluters can purchase “offset credits” from farms or other polluters who are under their cap. Using a content analysis of program case studies and federal and state trading rules, the author analyzes this emergent form of environmental governance using an expanded Polanyian framework that he terms the preemptive double movement. Instead of the state reacting to the dangers of a new market form after the fact, here the state uses its existing authority to constrain the market so that further environmental damage does not result. The author describes eight specific regulatory mechanisms that illustrate this preemptive double movement at work.
Keywords: Polanyi; business & the environment; commodification; double movement; ecological impact; nutrient trading; pollution; water quality management; water quality trading

The Embedded Firm: Corporate Governance, Labor, and Finance Capitalism - Williams, Cynthia A.; Zumbansen, Peer (Cambridge University Press, 2011)
The globalization of capital markets since the 1980s has been accompanied by a vigorous debate over the convergence of corporate governance standards around the world towards the shareholder model. But even before the financial and economic crisis of 2008/2009, the dominance of the shareholder model was challenged with regard to persisting divergences and national differences in corporate law, labor law and industrial relations. This collection explores this debate at an important crossroads, echoing Karl Polanyi's famous observation in 1944 of the disembeddedness of the market from society. Drawing on pertinent insights from scholars, practitioners and regulators in corporate and labor law, securities regulation as well as economic sociology and management theory, the contributions shed important light on the empirical effects on the economy of the shift to shareholder primacy, in light of a comprehensive reconsideration of the global context, policy goals and regulatory forms which characterize market governance today.
Keywords: business & economics / management; corporate governance; disembeddedness; international law; political science / public policy / economic policy

Grounding Globalization: Labour in the Age of Insecurity - Webster, Edward; Lambert, Rob; Beziudenhout, Andries (John Wiley & Sons, 2011)
*Winner of the 2009 Distinguished Scholarly Monograph Prize, awarded by the American Sociological Association Labor and Labor Movements section* Claims have been made on the emergence of a new labour internationalism in response to the growing insecurity created by globalization. However, when persons face conditions of insecurity they often turn inwards. The book contains a warning and a sign of hope. Some workers become fatalistic, even xenophobic. Others are attempting to globalize their own struggles. Examines the claim that a new labour internationalism is emerging by grounding the book in evidence, rather than assertion Analyzes three distinct places – Orange, Australia; Changwon, South Korea; and Ezakheni, South Africa – and how they dealt with manufacturing plants undergoing restructuring Explores worker responses to rising levels of insecurity and examines preconditions for the emergence of counter-movements to such insecurities Highlights the significance of 'place' and 'scale', and demonstrates how the restructuring of multi-national corporations, and worker responses to this, connect the two concepts
Keywords: Polanyi problem; critique; globalization; internationalism; labour; science / earth sciences / geography

Os Principios De Economia Substantiva De Karl Polanyi Em Relações De Economia Solidária: O Caso Do Povoado Cruz (currais Novos/Rn) - Gonçalves Silva, Fabiano André; Macedo, Dinara Leslye; Calazans, Silva; González, Juan Miguel Rosa; de Souza, Washington José (Revista Eletrônica de Ciência Administrativa, 2011)
This study focuses economic and social relationships in a fruit culture community under the prism of both principles established by Polanyi (2000) in his work "The Great Transformation" and central assumptions of New Economic Sociology (NES) and Solidarity Economy. The community of Povoado cruz, in the municipality of Currais Novos (Rio Grande do Norte - Brazil), was studied through non-participant observation, and data gathered was analyzed with a qualitative approach. The paper aims at identifying how, and if, social not capitalist relationships, guided by reciprocity, domesticity and redistribution principles, survive within the general capitalist environment. It was observed that, even in predominant market reality, Polanyi and Solidarity Economy principles prevail. Such principles are grounded in values such as solidarity, integration, respect, mutual assistance, cooperation and autonomy. (English)
Keywords: Brazil; Currais Novos (Brazil); Rio Grande do Norte (Brazil); agroindústria Familiar; domesticidade; domesticity; economia Solidária; family agribusiness; international economic relations; quantitative research; reciprocidade; reciprocity; redistribuição; redistribution; solidarity; solidarity economy

Karl Polanyi: The Limits of the Market - Barnes, Tom (Journal of Australian Political Economy, 2011)
The article reviews the book "Karl Polanyi: The Limits of the Market," by Gareth Dale.
Keywords: DALE, Gareth; KARL Polanyi: The Limits of the Market (Book); Polanyi, Karl, 1886-1964

Batas, Katarungan, at Kalikasan: Isang Kritikal Na Pagmuni Sa Ekolohiya at Lipunan - Batongbacal, Jay L. (Social Science Diliman, 2011)
This article is a commentary and critique of the concept of 'environmental justice' that lately has become much more prominent in discourses on the environment, especially in the debates and advocacy on climate change. After briefly considering the origins of the concept, it is argued that environmental justice is limited by its liberal democratic roots--it is an extension of a discourse that ultimately is based on atomism, centralization of power, and legitimization of the marginalization of groups from true democratic decision-making processes. This arises from the absence of a coherent philosophy and system of principles that can balance social demands for access and allocation of resources against individual proclivities toward unending appropriation and accumulation, preventing 'environmental justice' from addressing the counter-environmental effects of consumerism and displacement. To offer an alternative called 'ecological social justice', a reconsideration of the environment within Karl Polanyi's definition of economy and critique of the market society is correlated with the definition of 'social justice' and the right to a healthy environment in Philippine jurisprudence.
Keywords: Philippine jurisprudence; Philippines; atomism; climate change; climatic changes; consumerism; decision making; democracy; ecological social justice; ekolohikal na katarungang panlipunan; environment; environmental ethics; environmental justice; katarungang panlipunan; market society; social justice

Embedding Economic Relationships through Social Learning? The Limits of Patient and Public Involvement in Healthcare Governance in England - Vincent-Jones, Peter (Journal of Law & Society, 2011)
The strategy for NHS modernization in England is privileging individual choice over collective voice in the governance of healthcare. This paper explores the tension between economic and democratic strands in the current reform agenda, drawing on sociological conceptions of embeddedness and on theories of reflexive governance. Building on a Polanyian account of the disembedding effects of the increasing commercialization of health services, we consider the prospects for re-embedding economic relationships in this field. An analysis is provided of the limits of the present legal and regulatory framework of Patient and Public Involvement (PPI) in establishing the democratic and pragmatist conditions of social learning necessary for effective embedding. We show how the attainment of reflexive governance in the public interest is dependent on such conditions, and on the capacities of patients and the public to contribute to debate and deliberation in decision making, including on fundamental policy questions such as how services are provided and by whom.
Keywords: Great Britain; National Health Service; disembeddedness; embeddedness; medical care; public interest; social learning

Le concept de « marchandise fictive », pierre angulaire de l'institutionnalisme de Karl Polanyi ? - Postel, Nicolas; Sobel, Richard (Revue de philosophie économique, 2011)
The notion of “fictitious commodities” is not simply a convenient heterodox slogan to criticize the radical limits of any trade system and the analytical limits of the dominant theory. It is rather the foundation of the institutional perspectives that underlie all Karl Polanyi’s sociohistoric analyses. This article explains and articulates both the theoretical level using the institutional approach to commodities and a philosophical level using a broad definition of the economy. There is, however, a limit to the notion of the institution, which connects both levels: it is not articulated practically such that the potential and critique of this construct may be weakened.
Keywords: capitalisme; institution; marchandises fictives; raison pratique; économie substantive

Would You Barter with God? Why Holy Debts and Not Profane Markets Created Money - Semenova, Alla (American Journal of Economics and Sociology, 2011)
Attempting to revitalize the substantive approach to economics in the tradition of K. Polanyi, this paper revives the neglected substantive theory of money's origins by Bernhard Laum and thus disputes the formal approaches that see the origins of money in the context of trade. A wide range of evidence, from archeological to etymological, is utilized to demonstrate that relations between men and God, carried out through the intermediary of state-religious authorities, played a causal role in the genesis of the ox-unit of value and account, and, further, in the origins of money, and, subsequently, coinage. The substantive state-religious approach presented in this paper is also compared and contrasted to the Chartalist perspective on money's origins. It is concluded that the substantive approach presented in this paper differs from the more formal approaches (e.g., Metallism) because it does not rely upon a projection of modern institutions and habits of thought (e.g., a medium of exchange; monetary taxation) into ancient societies.
Keywords: ancient societies; money; substantive approach

The Polanyi-Stanfield Contribution: Reembedded Globalization - Brown, Doug (Forum for Social Economics, 2011)
This essay describes and interprets J. Ron Stanfield's analysis of Karl Polanyi. Stanfield has helped to clarify Polanyi's "double-movement" thesis by arguing that the double movement of self-regulating market forces and the protective response is essentially about freedom versus security. These insights provide an analysis that takes Polanyi into the twenty-first century by developing a theory of "reembedded globalization." This is not something that Polanyi experienced before his death in 1964. Corporate globalization and the escalation of free-market rhetoric have led to a new round of disembedding since the 1970s, and this is evident by both the top-down, corporate globalization of privatization, deregulation, and marketization, as well as, by the challenges to it from the "movement of movements" coalescing around the World Social Forum. The most conspicuous evidence of this neo-protective response and its challenge to corporate-driven market forces is that between the security needs of the world's globalization victims and the freedom of transnational corporations to make profits anywhere and in any way throughout the world. Understanding the clash in this way suggests that for humanity to save itself, it must struggle to reembed globalization and put security ahead of unbridled freedom. Reembedding globalization requires asserting democratic security ahead of the economic freedom of big business.
Keywords: MARX, Karl, 1818-1883; Marxian; Sraffian; capitalist systems; current heterodox approaches; globalization; history of economic thought; international economic order; political economy; reembedded; socialism

Lineages of Embeddedness: On the Antecedents and Successors of a Polanyian Concept - Dale, Gareth (American Journal of Economics & Sociology, 2011)
Since the 1980s, much debate has revolved around Karl Polanyi's concept of the 'dis/embedded economy,' generating some light and not a little heat. This paper looks at three reasons that account for part of the 'heat.' It begins by tracing the sources upon which Polanyi drew. They include Karl Marx, Ferdinand Tönnies, and Max Weber, along with anthropology of the inter-war period, and German and American Institutionalist economics. After exploring the differing ways in which these varying currents conceptualize the relationship between economy and society, I explore the different interpretations of what Polanyi means by embeddedness, and the different purposes to which contemporary economic sociologists have put the term. For some, he is held up as the originator of a line of sociological analysis that treats 'the economy' as a subsystem 'embedded in' a social system. In this reading the emphasis is upon the moral underpinnings of market behavior, in contrast to the naturalism of Ricardo, Malthus and their heirs. For others, his 'disembedding' thesis contains a more radical tale: of the market economy coming to dominate 'society,' bringing forth a sorcerer's apprentice world of untrammeled market forces that, although human creations, lie beyond conscious human control.
Keywords: MARX, Karl, 1818-1883; POLANYI, Karl, 1886-1964; TONNIES, Ferdinand, 1855-1936; WEBER, Max, 1864-1920; economic philosophy; economics; embeddedness; influence (psychology); intellectual life - history; socioeconomics

Redistribution in Aegean Palatial Societies Redistribution and the Political Economy: The Evolution of an Idea - Earle, Timothy (American Journal of Archaeology, 2011)
Whether the Bronze Age Aegean economies can be described as "redistributive" depends on how one defines the term. The concept of redistribution itself has undergone several decades of critical archaeological analysis, much of it stemming from my early work in Polynesia. I consider here how Polanyi's ideas about redistributive economies have been expanded since the 1970s. My review complements the article in this Forum by Nakassis et al. and the contribution by Haistead, who discusses why and how the concept of redistribution still matters in studies of the Minoans and Mycenaeans. To some degree, we all agree: chiefs, and later kings, who sought power in archaic societies did so through many highly variable, contingent, and changing means, all designed to support political-economic strategies based on multiple systems of finance. The Bronze Age Aegean societies provide excellent examples of this process, as demonstrated by the contributors to this Forum.
Keywords: Aegean civilization; Bronze age; chiefdoms; economic aspects; kings & rulers; metals; redistribution; wealth

Redistribution in Aegean Palatial Societies Redistribution in Aegean Palatial Societies: Terminology, Scale, and Significance - Halstead, Paul (American Journal of Archaeology, 2011)
Nakassis et al., in their contribution to this Forum, argue that the term "redistribution" has been used with a range of meanings in the context of the Aegean Bronze Age and so obscures rather than illuminates the emergence and functioning of political economies. They call for detailed empirical investigation rather than reliance on ambiguous idealized types. Lupack and Schon concur, arguing respectively that the palace shared control of the Mycenaean economy with sanctuaries and local communities and that centralized production of craft goods (an,d thus elite strategies of wealth finance) developed late at the palace of Pylos. Pullen finds little archaeological support for Renfrew's extrapolation of centralized redistribution to the Early Bronze Age, while Christakis uses evidence of storage to argue the same for Prepalatial Crete and to play down the scale and importance of elite redistribution in the Minoan palaces. The calls for circumspect use of the term "redistribution" and for detailed empirical investigation are applauded, although these five papers arguably do not all attack the same form of redistribution. This response argues that redistribution sensu Polanyi, Finley, and Killen (i.e., centrally administered movements of goods and services without equivalence of value) retains considerable heuristic value in investigation of both textual and archaeological evidence for Bronze Age political economies.
Keywords: Aegean civilization; Eleia (Greece); Greece; Mycenaean civilization; Pylos site (Eleia, Greece); archaelogy; bronze age; economics; redistribution

Economic Surplus, Social Reproduction, Nurturance and Love - O'Hara, Phillip Anthony (Forum for Social Economics, 2011)
This paper examines the contributions of James Ronald Stanfield to social and political economy. We start the analysis with Stanfield's contribution to institution building through his education of PhD students, building a graduate program in political economy, and through the associations of social and political economy. Then we go on to scrutinise his creative developments and applications of the notions of economic surplus and social reproduction. This is followed by his extensive work on Karl Polanyi and the disembedded economy. Finally we explore his path-breaking analysis of the great capitalist restoration, the nurturance gap and love. Stanfield was one of the greatest institutionalists and social economists of the last hundred years, and these four areas of energetic creativity are his prime achievements in the area.
Keywords: Marxian; Sraffian; current heterodox approaches: socialist; history of economic thought: individuals

Conceptualizing the Economic Role of the State: Laissez-Faire, Technocracy, and the Democratic Alternative - Sabeel Rahman, K (Polity, 2011)
This article contrasts three visions of political economy that appear in the writings of Keynes, Hayek, and Polanyi, and discusses their relevance to current debates over economic policy in the United States. Keynes proposed optimizing market practices through technocratic governance. In recent decades, this influential approach has proven vulnerable to the revival of Hayek's laissez-faire arguments. Polanyi, by contrast, introduced a framework that criticizes both laissez-faire conceptions and the technocratic approach pioneered by Keynes. Because of its emphasis on democratic participation, Polanyi's reasoning provides the building blocks for a new type of contemporary progressive politics.
Keywords: HAYEK, Friedrich A. von (Friedrich August), 1899-1992; KEYNES, John Maynard, 1883-1946; United States; economic policy; free enterprise; government regulation; progressivism; the state

Some Social Economics Concepts for Future Research - Stanfield, James Ronald (Forum for Social Economics, 2011)
Under the guidance of a recrudescent nineteenth century ideology, the governance of the global economy has been profoundly altered in the past three decades; indeed, a veritable Great Capitalist Restoration has emerged. It is important to view the transitioning economies and emerging market economies as part of this massive shift in governance. The concept of economic surplus offers a useful perspective on the political economy of governance regimes. Karl Polanyi's post-Marxian view of lives and livelihood provides important insight into the nature of the Great Capitalist Restoration, its ideologically-driven impetus, and its eventual foundering on the shoals of instability, insecurity, inequality, and social and ecological unsustainability. The ineluctable crisis of the Great Capitalist Restoration provides another opportunity to construct a viable democratic economic future, one that avoids the pitfalls that brought down the corporate-welfare state, and offers more than inauthentic, joyless commodity consumption. To build the Road to this Future, we will need a powerful heterodox economic analysis of agency and governance, guided by a vision of an economy which is subordinate to the lives it provisions.
Keywords: Marxian; Sraffian; capitalist systems: political economy; current heterodox approaches: socialist; international economic order; social economy

Economic Anthropology - Hann, Chris; Hart, Keith (Polity, 2011)
This book is a new introduction to the history and practice of economic anthropology by two leading authors in the field. They show that anthropologists have contributed to understanding the three great questions of modern economic history: development, socialism and one-world capitalism. In doing so, they connect economic anthropology to its roots in Western philosophy, social theory and world history. Up to the Second World War anthropologists tried and failed to interest economists in their exotic findings. They then launched a vigorous debate over whether an approach taken from economics was appropriate to the study of non-industrial economies. Since the 1970s, they have developed a critique of capitalism based on studying it at home as well as abroad. The authors aim to rejuvenate economic anthropology as a humanistic project at a time when the global financial crisis has undermined confidence in free market economics. They argue for the continued relevance of predecessors such as Marcel Mauss and Karl Polanyi, while offering an incisive review of recent work in this field. Economic Anthropology is an excellent introduction for social science students at all levels, and it presents general readers with a challenging perspective on the world economy today.Selected by Choice as a 2013 Outstanding Academic Title
Keywords: cultural anthropology; economic anthropology; social anthropology; sociology - general

Understanding India’s New Political Economy: A Great Transformation? - Ruparelia, Sanjay; Reddy, Sanjay; Harriss, John; Corbridge, Stuart (Taylor & Francis, 2011)
A number of large-scale transformations have shaped the economy, polity and society of India over the past quarter century. This book provides a detailed account of three that are of particular importance: the advent of liberal economic reform, the ascendance of Hindu cultural nationalism, and the empowerment of historically subordinate classes through popular democratic mobilizations. Filling a gap in existing literature, the book goes beyond looking at the transformations in isolation, managing to: • Explain the empirical linkages between these three phenomena • Provide an account that integrates the insights of separate disciplinary perspectives • Explain their distinct but possibly related causes and the likely consequences of these central transformations taken together By seeking to explain the causal relationships between these central transformations through a coordinated conversation across different disciplines, the dynamics of India’s new political economy are captured. Chapters focus on the political, economic and social aspects of India in their current and historical context. The contributors use new empirical research to discuss how India’s multidimensional story of economic growth, social welfare and democratic deepening is likely to develop. This is an essential text for students and researchers of India's political economy and the growth economies of Asia.
Keywords: India; business & economics; ethnic studies

Does the human capital discourse promote or hinder the right to education? The case of girls, orphans and vulnerable children in Rwanda - Balsera, Maria Ron (Journal of International Development, 2011)
This paper studies the implications of considering education as a human right and examining it through the lens of the human capital discourse. It uses Polanyi's idea of decommodification, as discussed by Offe and Esping-Andersen, as well as Foucault's concept of governmentality, to analyse the changes that are taking place in the education sector in post-genocide Rwanda. It focuses on the consequences of the human capital discourse for girls, orphans, children with disabilities and Batwa in Rwanda. The paper concludes that although the human capital discourse has brought attention and resources to education, the situation has worsened for some marginalised groups leading to growing inequalities and discrimination. Copyright © 2011 John Wiley & Sons, Ltd.
Keywords: Rwanda; commodification; decommodification; human capital; neoliberal governmentality; right to education

The second great transformation: Towards a solidarity society - Brie, Michael; Klein, Dieter (International Critical Thought, 2011)
The double transition to a society based on unfettered capital valorisation, which attempts to legitimize itself by claiming to be a democratic society founded on human rights, can be defined as the first great transformation of the contemporary period. These bourgeois capitalist societies are now in a crisis of their reproduction, integration, rule and security. Three possible scenarios can be discerned: the first attempts to continue the present development (conventional world), the second, the formation of authoritarian fortresses in the centres within an ocean of insecurity and degradation, or, the third, a new transformation to a solidaristic social development. This transformation would begin in capitalism and at the same time point beyond it to a society whose most important goal is the development of free individuals through solidarity-based associations in the economy, in politics and in culture. Its basis would be a solidarity-based multi-sector economy and a participatory democracy. Although the totality of a new society cannot be anticipated, concrete entry projects for a new second transformation can be developed.
Keywords: capitalism; double transformation; socialism; solidarity economy