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Switch to: References
Citations of:
Karl Polanyi and the writing of The Great Transformation
Theory and Society 32 (3):275-306 (2003)
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Polanyi’s concept of “embeddedness” has been the subject of debate. Various authors have argued that it reveals a contradiction. They contend that Polanyi states that all economies are always embedded, while simultaneously maintaining that the modern market economy is exceptional because it is disembedded. Others claim that there is no contradiction in Polanyi’s thought but that he is merely describing a contradiction of the market economy. In this text, I argue that both sides fail to discern two different concepts: “institutedness” (...) |
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Critical scholarship often presents corporate social responsibility (CSR) as a reflection or embodiment of neoliberalism. Against this sort of sweeping political characterization we argue that CSR can indeed be considered a liberal concept but that it embodies a “varieties of liberalism.” Building theoretically on the work of Michael Freeden on liberal languages, John Ruggie and Karl Polanyi on embedded forms of liberalism, and Michel Foucault on the distinction between classical liberalism and neoliberalism, we provide a conceptual treatment and mapping of (...) |
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This article seeks to subject Fred Block and Margaret Somers’ influential reconstruction of Karl Polanyi’s The Great Transformation to a systematic review. I show that Block & Somers’s central claim—that Polanyi’s thinking underwent a “theoretical shift” as he wrote his seminal book—is not supported by archival evidence. I demonstrate that all the narrative keys that Block & Somers advance to lend plausibility to their discovery of a “theory of the always-embedded market economy” in The Great Transformation, wither under critical probing. (...) |
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Although Karl Polanyi is best known for his theorization of market regulation and the double movement, democratizing the economic was one of his core concerns. He believed societies need to bring labor, land, and money under collective oversight to displace the logic of market fundamentalism with the logic of human needs. In this article, the author draws on Polanyi’s vocabulary to shed light on the denial of money politics and the possibility of democratization. The author illustrates these dynamics through an (...) |
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Growing interest among historians and social scientists in the work of Karl Polanyi has yet to produce detailed historical studies of how Polanyi's work was received by his contemporaries. This article reconstructs the frustration of Polanyi's attempts to make a name for himself among English socialists between his arrival from Vienna in 1934 and his departure for New York in 1947. The most obvious explanation for Polanyi's failure to find a following was the socialist historians’ rejection of his unorthodox narrative (...) |
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Hannes Lacher’s article misrepresents and then denounces both the substance and the spirit of our book, The Power of Market Fundamentalism: Karl Polanyi’s Critique. Lacher claims his interpretation of Polanyi to be the only acceptable one, and vociferously alerts readers to beware the dangerous influence of our work. Because we continue to believe that familiarity with Polanyi’s theoretical framework is valuable for those resisting the depredations of neoliberalism and authoritarianism, we restate our commitment to interpreting Polanyi’s work in the most (...) |
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Ariane Fischer, David Woodruff, and Johanna Bockman have translated Karl Polanyi’s “Sozialistische Rechnungslegung” [“Socialist Accounting”] from 1922. In this article, Polanyi laid out his model of a future socialism, a world in which the economy is subordinated to society. Polanyi described the nature of this society and a kind of socialism that he would remain committed to his entire life. Accompanying the translation is the preface titled “Socialism and the embedded economy.” In the preface, Bockman explains the historical context of (...) |
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This article develops and defends a theory of "network failure" analogous to more familiar theories of organizational and market failure already prevalent in the literature on economic governance. It theorizes those failures not as the simple absence of network governance, but rather as a situation in which transactional conditions for network desirability obtain but network governance is impeded either by ignorance or opportunism, or by a combination of the two. It depicts network failures as continuous rather than discrete outcomes, shows (...) |
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En el presente trabajo queremos explorar las líneas maestras de las principales interpretaciones que han sido conjugadas en torno a un problema decisivo, a saber, la comprensión del significado histórico del advenimiento de la sociedad industrial capitalista desde el punto de vista de las clases populares o trabajadoras. Habremos de exponer la interpretación burguesa o liberal que se ha dado de semejante proceso secular; también la interpretación marxista de sus consecuencias y, como hilo conductor y problematizador del propio trabajo, la (...) |
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Zelizer’s work may be read as an attack on the central Polanyian thesis: that the market system threatens social life by the undue prominence it lends the economy in the organization of modern society. The recent publication of Viviana Zelizer’s The Purchase of Intimacy (2005a) is therefore an excellent opportunity to review the general trend of her work Zelizer 1979, 1985, 1994, and contrast her leading ideas to the central thesis that gives Polanyi’s work its particular flavor: the danger encapsulated (...) |
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William Booth's 'On the Idea of the Moral Economy' (1994) is a scathing critique of the economic historians labelled as 'moral economists', chief among them Karl Polanyi, whose The Great Transformation is the groundwork for much of the later theorizing on the subject. The most devastating of Booth's criticisms is the allegation that Polanyi's normative prescriptions have anti-democratic, Aristotelian and aristocratic undertones for being guided by a preconceived notion of 'the good'. This article presents an attempt to rescue Polanyi from (...) |
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Resumen En el presente trabajo nos acercaremos a las reflexiones aristotélicas sobre lo económico, desde la perspectiva de Karl Polanyi, precisamente porque éste acude al filósofo griego con el ánimo de obtener elementos útiles para construir una profunda crítica de la moderna sociedad de mercado. Aristóteles intuyó el futuro incierto de un orden social devorado por relaciones económicas en hipertrófica expansión. En su época, desde luego, tal amenaza sólo era potencial y jamás vio la culminación efectiva de nada semejante. No (...) |
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Polanyi analyzes the historical deployment of a “formal” economic science starting from the “market-scarcity-instrumental rationality triptych.” This triptych, and the knowledge associated with it, is shown to be more than merely a “substantial” economic science’s interest in the triptych “need-nature-institution.” While we must agree with Polanyi that economism is ill-suited to the first triptych, we hesitate to accept his suggested alternative, a heterogeneous mixture of naturalism and institutionalism, essentialism and historicism. |
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The article uses a case study of relationships in American manufacturing industries to demonstrate the utility of documenting the “relational work” that managers do as they negotiate circumstances where either roles or norms are ambiguous. It shows that the explicit identification of the role that relational work plays in those relationships story militates for—and extends, improves upon, and arguably completes—a particular understanding of what economic sociologists should mean when they talk about the “embedding” of the economic in social relations. The (...) |
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When the Global Financial Crisis hit, major political economists were able to boast that they had long warned that "crazy times" were coming. By contrast, leading sociologists seem to have been wrong footed. Totalizing narratives of a new "risk society", "second modernity" and the like appeared to have sacrificed the grounds for weighing up the costs and damages of contemporary capitalism. Made famous by Karl Polanyi, the concept of the embedded market suggests a differentiated diagnosis of our times that should (...) |
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