Karl Polanyi on economy and society: a critical analysis of core concepts. Issue 1 (2nd January 2017)
- Record Type:
- Journal Article
- Title:
- Karl Polanyi on economy and society: a critical analysis of core concepts. Issue 1 (2nd January 2017)
- Main Title:
- Karl Polanyi on economy and society: a critical analysis of core concepts
- Authors:
- Hodgson, Geoffrey M.
- Abstract:
- Abstract: The Review of Social Economy was founded to highlight the irreducible social aspects of economic activity. Yet, the nature of the 'social' and the 'economic' are both unresolved, and they are much more problematic than often assumed. This article probes Karl Polanyi's depiction of the relationship between the 'social' and the 'economic' and subsequent discourse on 'embeddedness'. In his Great Transformation (1944) Polanyi associated the 'economic' with motives of material gain, while 'social' referred to norms of reciprocity and redistribution: his distinction between the 'social' and the 'economic' then focused primarily on different kinds of motivation. But in a 1957 essay he brought in different kinds of institutions that engender different types of motivation. Polanyi (1944) argued that after 1800 Britain was transformed into a market-oriented 'economic' system, based on motives of greed and material gain. He also proposed that an effective market system had to be 'self-adjusting' and free of political interference, despite his important additional claim that the state was involved in its creation. Some of Polanyi's core concepts and arguments are contradictory and problematic, and need to be reconsidered, especially if his enduring insights are to be salvaged.
- Is Part Of:
- Review of social economy. Volume 75:Issue 1(2017)
- Journal:
- Review of social economy
- Issue:
- Volume 75:Issue 1(2017)
- Issue Display:
- Volume 75, Issue 1 (2017)
- Year:
- 2017
- Volume:
- 75
- Issue:
- 1
- Issue Sort Value:
- 2017-0075-0001-0000
- Page Start:
- 1
- Page End:
- 25
- Publication Date:
- 2017-01-02
- Subjects:
- Karl Polanyi -- embeddedness -- social -- economic -- markets -- capitalism
B52
Economics -- Periodicals
Economics -- Moral and ethical aspects -- Periodicals
Social justice -- Periodicals
330.5 - Journal URLs:
- http://www.tandf.co.uk/journals/titles/00346764.asp ↗
http://www.tandfonline.com/ ↗ - DOI:
- 10.1080/00346764.2016.1171385 ↗
- Languages:
- English
- ISSNs:
- 0034-6764
- Deposit Type:
- Legaldeposit
- View Content:
- Available online (eLD content is only available in our Reading Rooms) ↗
- Physical Locations:
- British Library DSC - 7796.910000
British Library DSC - BLDSS-3PM
British Library HMNTS - ELD Digital store - Ingest File:
- 1466.xml