Karl Polanyi Research Articles

Karl Polanyi against postcolonial theory: beyond Eurocentric anti-Eurocentrism

AbstractPostcolonial theory has been at the forefront of attempts to remedy the problem of Eurocentrism. This article argues that postcolonial theory has not progressed far enough in successfully treating the problem of Eurocentrism, for it has not sufficiently abided by its own methodological underpinnings, i.e., it has not satisfactorily developed its own critique of the “presentist” conceptions of history. More precisely, postcolonial theory has not shown how to make a complete departure from the methodologically presentist conceptions of capitalism, which, in turn, limits our ability to overcome hierarchical readings of global modernity. To problematize and fill this gap, I take an unconventional tack, turning to a seldomly cited figure in debates on Eurocentrism: Karl Polanyi. I contend that although Polanyi places the origins of capitalist modernity in Europe, his historical sociology provides an alternative and more definitive solution for presentism and Eurocentrism. Polanyi’s rejection of the “economistic” and “dualistic” understandings of human life, his insistence on the commonality and diversity of human degradation in the face of capitalist modernity, and his historically specific conception of the “counter-movement” enable a decidedly non-presentist, non-triumphalist, and non-hierarchical narrative of the genesis and development of the modern present.

The moral economy of the English football crowd: The European Super League and the contingency of football fan activism

On 18 April 2021, six of the most storied clubs in English football – Arsenal, Chelsea, Manchester City, Liverpool, Manchester United and Tottenham Hotspur – announced they would be joining a new breakaway European Super League. These proposals triggered vehement opposition from football fans, which catalysed the intervention of the UK government in the form of a fan-led review of football governance. The reaction to the European Super League – which collapsed within 48 hours – demonstrates that the commodification and globalisation of football is contested. This article applies the lens of moral economy to analyse the contemporary mobilisations of football fans in England counter to these processes. The novel application of a moral economy framework provides a fresh perspective within the extant literature on football fan activism. This article represents the first systematic application of a moral economy approach to the political sociology of contemporary sport and its fandom. Employing an expanded understanding of moral economy, the article extends its application beyond the analysis of pre-modern food riots popularised by E.P. Thompson, incorporating the insights of Karl Polanyi and Andrew Sayer. Adopting this broader meaning, the concept of moral economy enables us to explore emergent and dynamic forms of fan activism, which seek to contest the commodification of football. The supporter mobilisations against the European Super League are examined to illuminate this perspective. Through an exploration of the contingency of the moral economy of football fandom, this article expands, in conceptual terms, the literature on football-based social movements, connecting it to the wider commodification and financialisation of football (as an important aspect of everyday life) and the internal contradictions and crisis of advanced capitalism.

New views on price-making markets and the capitalist impulse: beyond Polanyi

Anthropologists have persistently diminished the importance of the market and marketplace exchange in premodern, preindustrial times. This strident anti-market mentality, derived largely from the writings of Karl Polanyi, underpins an ideological and politicized argument that neither sets useful guideposts to advance anthropological research, nor does it yield the necessary insights or empirically valid foundations to comprehend the deep historical origins of modern economies or polities. In fact, by envisioning the past that is categorically caged from the modern, the school of thought crystalized through Polanyi's perspectives circumvents the role of diachronic processes that are at the heart of a truly historical social science. Although it is not our principal aim to relitigate the vast literature pertaining to the rise and fall of Polanyian thought, our approach expands on prior arguments about his project both by highlighting critical perspectives on capitalism that long predated Polanyian thought and by identifying a veritable bounty of new evidence and theory concerning premodern and contemporary marketplace economies that enable us to transcend these now-entrenched claims. The scheme we present that distinguishes between open and competitive marketplaces, on the one hand, and the capitalist impulse, on the other, we believe, adds depth and breadth to the analysis of price-making markets and their divergent social and economic outcomes across time and space.

Polanyi, Piketty, and the Twenty-First Century Market Economy

Both Karl Polanyi in The Great Transformation and Thomas Piketty in Capital and Ideology make use of the long historical roots of our current high levels of inequality and disappearing safety net, in an effort to understand the ideological basis of, and turmoil within, market societies. Both Polanyi and Piketty decry the erosion of the social institutions that maintained social stability and their replacement by market institutions. In this article, we provide brief overviews of the arguments of both Polanyi and Piketty and then use their framework to analyze current economic and social developments.

Polanyi and the Other Alternative Food Network: What San Francisco‐Based Multi‐Level Marketers of “Healthy” Food Tell Us About Values in Market Societies

AbstractRecent decades have witnessed the proliferation of alternative food networks (AFNs) in the US and Europe. While social scientists classify heterogenous practices as AFNs, their participants share the desire to work against the existing food system, and efforts to access food from outside this system. Many analysts have captured these features of AFNs by using concepts from Karl Polanyi's The Great Transformation. Yet while Polanyi's framework has been productive, it has also contributed to binary representations of alternative food movements as either advancing non‐market values or in service to commodification and hegemony. We scrutinize San Francisco‐based independent contractors who sell food alternatives and health supplements produced by a multi‐level marketing company we call NatureRise. The marketers of NatureRise products are committed to working against an industrial food system that they consider corrupt. They promote food alternatives that they regard as more natural than food in the conventional system, and embed sales in face‐to‐face relations in which a family‐like concern for human wellbeing is expressed. Yet, they also engage in sales for what Polanyi calls “the motive of gain.” Our case highlights a shortcoming in Polanyi's thought, one that characterizes many social analyses, while supporting the continued relevance of his work.

Framing the Market: The Unexpected Commonalities between Karl Polanyi and the Ordoliberals

Abstract There has been a resurgence in scholarship on Karl Polanyi in recent years, against the backdrop of rising populism and critiques of globalization and financialization. In these works, Polanyi is typically portrayed as critic of the contested notion of ‘neoliberalism’. In this paper I demonstrate that, to the contrary, Polanyi’s Great Transformation (1944) shares many of the themes central to the contributions of the early neoliberals, specifically the ordoliberal thinkers. Polanyi and the ordoliberals did not only seek to analyze the origins of the same social crisis of the 1930 s and 40 s, but their analysis of the deficiencies of nineteenth-century liberalism as well as the subsequent disintegration through rapidly growing interventions in favor of powerful groups in society has much in common. This paper explores these similarities and demonstrates that they also extended to the way they perceived the responsibility of scientists as well as the interdependence of the various orders in society. It is argued that the ordoliberals, their fellow-traveler F. A. Hayek and Karl Polanyi all perceived the interdependence between the state, civil society and the market somewhat differently, but agreed on the need to conceptualize the relationship between the three. Finally, it is suggested that even the normative ideal of Karl Polanyi, the realization of ‘freedom in a complex society’, has important commonalities with the ordoliberal program: the protection of individual freedom from concentrated forms of power in society.

Embedding the land market: Polanyi, urban planning and regulation

How land markets should be regulated is a fraught political question. This paper argues that the heterodox political economy of Karl Polanyi – underutilised in urban studies and planning scholarship – provides a useful language to analyse the role of urban planning in development land markets. We ground our analysis in the concept of embeddedness, building on Polanyi’s core contention that economic behaviour is not, and cannot be, distinct from social, political and cultural relations. We juxtapose an account of the institutionalisation of urban planning in England during the mid-20th century with contemporary neoliberal reforms, analysing the dynamic reconfigurations in how development land markets have been differently embedded via the planning system in relation to a shifting political, ideological and economic environment. The paper foregrounds the co-constitutive nature of state regulation and markets, moving past the simplistic regulation-deregulation dichotomy frequently adopted to frame government intervention via the planning system.

Between commodification and data protection: Regulatory models governing cross-border information transfers in regional trade agreements

Abstract The subject of this analysis is the role that regional trade agreements (RTAs) play in balancing between personal data commodification and protection of privacy and personal data, approached from the perspective of Karl Polanyi’s theory of double movement. We analyse provisions on cross-border information transfers and data protection in order to establish the models for balancing between the ideas of personal data commodification and social protection, understood as allowing for the use of measures that ensure privacy and personal data protection. Our analysis indicates that there are two general models concerning the liberalization of cross-border information transfers: one model restricts states’ ability to restrict data flows while the other is more open to such measures. Next, we identify three primary models governing how data protection is treated in the agreements that liberalize data flows: one that is based on the inclusion of substantive standards of protection in the content of the given agreement; one that uses international standards as a proxy for establishing certain level of protection; and one that is based on national data protection laws. Combining identified models of liberalizing data flows with identified models of ensuring data protection allows us to show that the inclusion of seemingly similar provisions on cross-border data transfers in various RTAs has resulted in developing several different models for balancing between commodification of personal data and data protection.

From “Socialist Accounting” to the “Livelihood of Man”: The Viennese and the Columbia Polanyi

Abstract Recent commentary on Karl Polanyi’s oeuvre has argued that the émigré scholar abandoned his earlier concerns of working out a (socialist) alternative to liberal market society when delving into the institutional study of ancient economies at Columbia University from the late 1940s to the late 1950s. This article reconsiders Polanyi’s late work through the lens of his 1920s efforts to theorize socialist accounting and a socialist economy in the context of the early Viennese socialist calculation debate. While many interpretations have been provided of Polanyi’s early and late work, the gradual—for some even “great”—transformation that led to his focus on ancient economic history has neither been reconstructed in detail nor fully understood. Focusing on how Polanyi’s socialist agenda of the earlier years laid the grounds for his institutional approach to economic history, this article draws attention to certain authors who have only rarely been taken into account, in particular, to Otto Neurath and Eugen von Böhm-Bawerk. Polanyi’s late work sits ambiguously between Austrian School economic theory on the one hand and economic history in a “substantive” key, first outlined by Neurath, on the other hand. This Viennese heritage bequeathed both an implicit naturalism and an implicit socialism in Polanyi’s late studies.

Bringing Money to the Market: The Ambiguity in Polanyi’s Third “Fictitious Commodity”

The contribution examines Karl Polanyi’s analysis of the fictitiousness of the commodity description of money, and its suitability as a reference for the analysis of the commodification of money within contemporary markets for credit and finance. Any critique of the commodification of money that draws on Polanyi’s influential argument should distinguish between two fundamentally different meanings of the occurrence of money as a commodity: the institutional system that makes some commodity money versus the commercial practice that turns money into a commodity. Only a particular strand of Polanyi’s analysis provides a point of reference for a comprehensive critique of the commodification of money, rather than the monetization of some type of commodity. Departing from the aspects of Polanyi’s analysis that are specific to the political economy of the gold standard, the article draws on Polanyi’s material account of the essential contributions of public organization and social convention in the constitution of money. On these grounds, the commodification of money is potentially objectionable as the social disembedding of a common public institution.

Amartya Sen, Karl Polanyi, and Universal Basic Income

ABSTRACT This paper develops a Polanyian capabilitarian framework to understand and justify the universal basic income. I combine Amartya Sen’s capabilities approach with Karl Polanyi’s substantive view of economy to mount a normative case for basic income. Using this approach, I also ground the basic income debate in a relational ontology, the idea that the self and society are mutually constituted. By doing so, I problematise hegemonic assumptions underlying much of the basic income discourse and call for ontological and epistemic diversity. The paper both provides a critique of individualist ontology and offers an affirmative modification centred on relationality and interdependence.

Liberal Multiculturalism versus Diversity

Karl Polanyi described the crisis of his time in terms of a “double movement,” in which the rise of the self-regulating market was counterpointed by a protectionist movement of its losers. Updating Polanyi, Nancy Fraser argued that the current crisis is better conceptualized as a “triple movement,” with “emancipation” as a “third political project,” separate from “marketization” and “social protection.” This paper examines significant variation under the emancipation umbrella. In particular, I contrast liberal multiculturalism, as canonized by Will Kymlicka, with diversity, which has taken both neoliberal and illiberal directions.

“I am not a Post-Marxist: I am a Neo-Marxist”: Interview with Nancy Fraser

Fraser is one of the most important American philosophers and one of the leading figures of contemporary critical theory. From the 1980s to the present, Fraser has published on political philosophy and social theory, reflected upon feminism, justice, and capitalism, and has participated in public debates on current issues. The interview aims at retracing the main themes of her thought, underlining the persisting link which joins her understanding of political philosophy with social critique and public engagement. The interview also emphasizes the developments of her thought, starting from her formation in the American New Left, the encounter with feminism and the neo-Marxist cultural critique of capitalism, and the discussion of Habermas’s thought. Also discussed is Fraser’s complex feministic theory and her post-Westphalian and three-dimensional model of global justice. Another crucial topic is the recent elaboration of an enlarged view of capitalism, based on a combination of Karl Marx and Karl Polanyi, aimed at highlighting its structural crisis tendencies: not only economic, but also ecological, political, and social. The recent debate on the crisis of liberal democracy, the emergence of populism, the Covid-19 pandemic, as well as the Ukrainian war, become an opportunity to test how a renewed critical theory of society can develop a social diagnosis of the time, without abandoning the task of a reconstruction of the emancipatory potential present in the existing social reality. Finally, Fraser recalls her link with the Italian philosophical tradition, stressing in particular her debt to Antonio Gramsci.

Assessing Regional Variation in Support for the Radical Right-Wing Party ‘Alternative for Germany’ (AfD)—A Novel Application of Institutional Anomie Theory across German Districts

The paper at hand aims to address a research gap by examining the spatial impact of economic and non-economic institutions on regional variation in the support for the German populist far-right party ‘Alternative for Germany (AfD)’. Adopting an interdisciplinary approach and drawing on institutional anomie theory, the study explores the relationship between economic dominance—economic inequality and economic strength—and regional AfD vote share, as well as the role of non-economic institutions in shaping support for the party. Using various regional indicators, the study assesses the strength of different institutions and their impact on the AfD’s electoral results in the year 2021 across 401 German districts (NUTS 3-level). The results point to significant differences between eastern and western Germany in the analysis of regional populist voting patterns. Economic dominance emerges as a stronger predictor of the AfD’s vote share in eastern regions. However, the findings on the protective effect of strong non-economic institutions against AfD voting are ambiguous and partly contrary to theoretical expectations. Overall, the study’s findings show that the newly introduced indicators deduced from institutional anomie theory contribute to the existing literature to help better understand regional variances in AfD support. Furthermore, the study contributes to the existing literature on the rise of contemporary radical right movements by employing Karl Polanyi’s framework of ‘disembedded’ markets. In doing so, it sheds light on the complex interplay between social change, anomic tendencies, and the growth of radical right movements in capitalist societies.

Navigating Global Labour Studies with Bourdieu: insights from Romania’s seafaring history

ABSTRACT Research in Global Labour Studies is mostly based on the work of Karl Polanyi. It aims to demonstrate that a ‘disembedding’ process is leading to the formation of a global ‘labour market’. This analytical scheme does not consider the historical struggles over the definition of the legitimate skills and qualifications needed for a profession; it does not allow one to study the confrontations over the training of workers that take place at the intersection of global logics and local constraints. Pierre Bourdieu’s notion of field allows a better understanding of these power relations. This leads us to consider that national fields still weigh heavily, in combination with a transnational field. An empirical investigation of the training of seafarers in Romania exemplifies the potential contributions of this approach.

Updating Karl Polanyi’s ‘double movement’ for critical agrarian studies

ABSTRACT Karl Polanyi’s concept of the ‘double movement’ refers to a reciprocal dialectic between market forces and social protections for citizens. It concerns ongoing struggle against individualization of people’s lives under capitalist marketization – which continues today. While Polanyi focused on protective responses to deepening commodification of land, labor, and money across the 1840s–1940s century, the ‘double movement’ remains in force in the contemporary neo-illiberal era, with notable significance for agrarian transformations. This essay reviews adaptations by agrarian counter-movements, NGOs, and analysts to new pressures on producers, farmworkers, Indigenous peoples, and landscapes across the world, and various associated interpretations and analyses.

THE PROBLEM OF THE DEMOCRACY DEFICIT IN THE EU: BETWEEN THE POLITICAL ENTITY AND THE MARKET UTOPIA

The paper examines the problem of the relationship between the practices of the ordoliberal market, electoral democracy, and the sovereignty of the EU and its member states in the conditions of the decline of American hegemony and the beginning of the Chinese accumulation cycle. The first part analyzes the functioning of the EU at the political-institutional and economic levels. Based on the works of Karl Polanyi, Carl Schmitt, and their followers, it was demonstrated that at the institutional level, the neoliberal practices of the pan-European market conflict with the democratic institutions of the EU member states. Limiting national sovereignty in favor of supranational structures leads to limiting the influence of democratic institutions on the decision-making process, which makes European societies vulnerable both to adverse market dynamics and the selfish interests of elite groups. At the economic level, it was demonstrated that the decay of the economic foundations of American hegemony leads to a slowdown in economic growth. The result is both progressive property inequality within the Core of the capitalist world-system, which undermines the functionality of democratic institutions, and a narrowing of the gap between the Core and the Semi-Periphery. As a result, the rise of semi-peripheral states is taking place, undermining the international liberal order with their activity. In the second part, the scenarios of the functioning of the EU in the conditions of the transition of the capitalist world-system from an anarchic to a chaotic functioning state were considered. Based on the works of Aristotle, Charles Tilly and Samuel Huntington, political and institutional solutions were proposed, potentially capable of stabilizing the functioning of the EU and preserving it as a space of liberal practices of a good life.

Taxation and the Polanyian forms of integration in socialist and postsocialist Hungary

AbstractReciprocity, redistribution, and (market) exchange were the “forms of integration” put forward by Karl Polanyi as a “special tool box” to investigate relations between economy and society where the principle of price‐forming markets is not (yet) dominant. Though intended as the basis for a comparative alternative to the universalist assumptions of mainstream (neoclassical) economics, Polanyi did not make significant use of these concepts to analyze the noncapitalist societies of his day. This article investigates his Hungarian homeland, which in four decades of socialism evolved from Stalinist central planning to a mixed economy in which (re)distribution was supplemented by the expansion of market exchange, with personal taxation playing a negligible role. The constellation of (re)distribution and market has changed significantly in the postsocialist (neoliberal) era, but Scandinavian‐type societal reciprocity has remained elusive. Long after admission to the European Union, Hungarian fiscal and social policy regimes are distinctive as the market form of integration combines with low taxation and political interventions to (re)distribute resources (including transfer income from the EU) to support the formation of a national bourgeoisie. Theoretically, the perspective of the socialist Karl Polanyi is contrasted with that of the liberal institutionalist economist János Kornai.

Understanding the Rise of Illiberal Populism in Central and Eastern Europe. Insights from Scholarship Influenced by Karl Polanyi

The illiberal turn marked by the rejection of the main tenets of political, cultural, and (to some extent) economic liberalism poses a serious threat to the liberal status quo which emerged in CEE after 1989. We maintain that embracing the concept of countermovement derived from the thought of Karl Polanyi provides valuable insights into comprehending the dynamics of this socio-political phenomenon. In this introduction, we sketch the general background for the papers included in the symposium. We start by outlining the core features of market transitions and discussing briefly the leading research strands inspired by Polanyi’s ideas. Then we try to demonstrate how the legacy of Polanyi’s thought could be useful in understanding the contemporary ascent of illiberal populism. In our view, the chief advantage of Polanyian scholarship lies in its ability to account for the interdependence of economic (or global) and cultural (or local) causes of populist reaction.

A Polanyian Perspective on the Conflict Between Neoliberal Economics and Countrymindedness in Australian Drought and Water Policy

This article evaluates the successes and failures of Australian drought and water policy reforms. By analysing the influence of the ideas central to neoliberal economics and countrymindedness on the development and implementation of the National Drought Policy and the Murray Darling Basin Plan, we illustrate that drought and water policy reforms in Australia can be explained in the context of Karl Polanyi's double movement theory. We demonstrate that founding Australia's agricultural policy on economic assumptions is unlikely to be well‐received in a nation that exhibits widespread sympathy for the plight of agricultural producers. As such, we postulate that neoliberal agricultural policies that ignore the relevant social and historical context will be unpopular and vulnerable to a countermovement that undermines the intent and hinders the implementation of the policy.