The double movement and the perspectives of contemporary capitalism
in Western capitalism in transition
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In this chapter, the author discusses the contemporary tensions of social change inspired by the Polanyian concept of the double movement. He interprets the double movement as a simultaneous combination of dis-embeddedness which destroys established social bonds and habits in order to accommodate new market opportunities, and re-embeddedness creating new social bonds and institutions. The author locates the interpretative frame in a more precise historical and sociocultural context where the double movement happens within the present globalised and individualised processes of change in the industrially advanced countries. He discusses the current perspectives of contemporary societies and the possibility of capitalism ending. The author considers the European context, while not ignoring the impact of global interdependence. He elaborates the analysis in order to take into account the effects of the long-lasting economic and financial crisis.

Western capitalism in transition

Global processes, local challenges

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