Link to an article by Peter Frase:
What this article does not address is how Karl Polanyi‘s argument was basically a watered-down, centrist restatement of the theories of Thorstein Veblen.
Tag: Karl Polanyi
Matt Bruenig – Libertarianism’s Battle With History
Link to an article by Matt Bruenig:
“Libertarianism’s Battle With History”
Selected Quote:
“as much as market fanatics tried, they never could succeed in casting the economy as something separate from or above social order. Instead, what we saw (and what we see in developing countries today) is a constant rhythm of a double movement. In the first move, market mechanisms expand into new areas of social life, and in the second move, people fight to check this movement insofar as it is utterly ruinous to the functioning of a human society.”
Polanyi offers a much less robust (and more academic) analysis than Veblen or Bourdieu.