Karl Polanyi: The Limits of the Market

Key Contemporary Thinkers (Polity)

by Gareth Dale

Karl Polanyi's The Great Transformation is generally acclaimed as being among the most influential works of economic history in the twentieth century, and remains as vital in the current historical conjuncture as it was in his own. In its critique of nineteenth-century "market fundamentalism" it reads as a warning to our own neoliberal age, and is widely touted as a prophetic guidebook for those who aspire to understand the causes and dynamics of global economic turbulence at the end of the 2000s. Karl Polanyi: The Limits of the Market is the first comprehensive introduction to Polanyi's ideas and legacy. It assesses not only the texts for which he is famous – prepared during his spells in American academia – but also his journalistic articles written in his first exile in Vienna, and lectures and pamphlets from his second exile, in Britain. It provides a detailed critical analysis of The Great Transformation , but also surveys Polanyi’s seminal writings in economic anthropology, the economic history of ancient and archaic societies, and political and economic theory. Its primary source base includes interviews with Polanyi's daughter, Kari Polanyi-Levitt, as well as the entire compass of his own published and unpublished writings in English and German. This engaging and accessible introduction to Polanyi's thinking will appeal to students and scholars across the social sciences, providing a refreshing perspective on the roots of our current economic crisis.

Genres: Economics, Anthropology, Politics, Biography, History, Social Science

224 pages, Paperback

First published June 28, 2010

Reviews

[Jim · Rating 4 out of 5]

A thoughtful examination of the mid-twentieth century thinker, Karl Polanyi, who explored the destructive effects of the neo-liberal based market and proposed ideas for a more socially constructive economic system. Admittedly those ideas were sketchy and difficult to implement in the real world. Nevertheless, the author of the study points out that blindly adhering to the status quo or the extension through technology of the current trends only points to its failings and the impending disaster.

[Hélder Verdade Fontes · Rating 4 out of 5]

Este livro é mais do que uma mera recensão do pensamento de Polanyi. É uma interligação dos conceitos e abordagens de Polanyi com inúmeras outras áreas e autores, fazendo uma síntese bastante densa do que foi o pensamento de Polanyi. Há, também, várias críticas ao longo do texto, de várias frentes/ideologias, ao pensamento Polanyiano e seus conceitos. Tudo isto enriquece o livro, assim como o debate sobre este grande autor socialista. Após a leitura da Grande Transformação e de algumas crónicas (nomeadamente sobre o cálculo do planeamento central), recomendo vivamente a leitura deste livro.

[Tara Brabazon · Rating 3 out of 5]

A solid book that offers an intriguing lens onto Polanyi.

Probing Polanyi as an "economic journalist" (!!!???!!!), the book explores how he created his interpretations on crisis and free trade in particular. There is great attention to his critique of globalization.

Most provocatively, the book asks - and theorizes - why his best known works were published after 1940, and how his work has been used in the 21st century.

[Thomas · Rating 4 out of 5]

An incredibly well researched introduction to the complex phenomenon that was Karl Polanyi. Possibly worth five stars, but I lack the specialist background to be able to assess that. The author provides a comprehensive overview of Polanyi, his oevre, his influencers and influencees. Polanyi lives on, and for good reason, too.

[Lisa · Rating 4 out of 5]

Nice, even-handed intro to Polanyi's work (a challenge with socialist economists). The analysis of TGT is great, but I could've used more on Polanyi's impact.