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- W1966173667 abstract "An extraordinary trend in social sciences has been revival, from relative obscurity, of Karl Polanyi's The Great Transformation. With end of Cold War and rise of neoliberalism, Karl Polanyi's ideas are, ironically, more relevant today than they were in 1944, when his book was first published. Social theorists concerned with political economy in particular have latched onto The Great Transformation for its powerful criticisms of market-based policies and for its defense of role of state. Rather than speaking of need for governments to don what Thomas Friedman calls the golden straight] acket of market discipline, Polanyians speak of states creating sorts of markets that meet human needs - economic structures that will serve society, not command it.1 Enthusiasm for such an approach has led admirers of Polanyi to found Karl Polanyi Institute of Political Economy, hold eleven international Karl Polanyi conferences, translate The Great Transformation into at least nine languages, and publish numerous books and articles on Polanyi's ideas.And yet, despite Polanyi's current popularity, his path to prominence has been a tortuous one. Initially, Polanyi's intellectual legacy was limited to field of anthropology, where his insistence that rules of market society did not apply to much of world was taken as an invitation to do more research on nonmarket economies. Polanyi and his followers - known collectively as substantivist school of economic anthropology (a Polanyian term) - explored exchange, control, and distribution of land, labor, and resources in absence of price-setting mechanism of market. It was only really in 1980s that other social scientists turned back to The Great Transformation and recognized Polanyi as having something to say to students of modern market economy as well. Since then, The Great Transformation has become something of a canonical text in sociology, political science, and development studies, with its trademark concepts of embeddedness, double movement, and fictitious commodities taking on rich lives of their own. Historians, however, have been slow off mark in race to make something of Polanyi, despite Polanyi's keen interest in historical questions. At least in Anglophone world, British Marxists and particularly E. P. Thompson have had such a large disciplinary influence that Polanyi's criticisms of economistic thinking and of universality of profit motive have seemed to many like old news. It is no great surprise that Karl Polanyi Institute of Political Economy counts on its executive board of sixteen academics only one historian.I will not make case here that historians ought to become Polanyians. I would submit, however, that historians, treating Polanyi as a historical subject, have an important perspective to add to growing Polanyi literature. Examining Polanyi from within my own field of U.S. history, I will argue that The Great Transformation can fruitfully be read in context of an important and only recently unearthed episode in U.S. intellectual history: midcentury critique of economic society. In particular, Polanyi's book ought to be read alongside early work of management theorist Peter Drucker. Doing so sheds light on a number of matters. First, acknowledging how much Polanyi shared with his contemporaries in United States makes it easier to see how he came to develop theories for which he is rightly famous. Second, exploring important differences between Polanyi's critique of economic society and those articulated by his fellow thinkers draws Polanyi's theory into focus and exposes some of its limits. Finally, having placed Polanyi within context of United States (where he wrote and published his book), we can take The Great Transformation as a noteworthy contribution disparate movement to jettison homo economicus as basis for society. …" @default.
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- W1966173667 title "Polanyi in the United States: Peter Drucker, Karl Polanyi, and the Midcentury Critique of Economic Society" @default.
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