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Enzo Mingione

18  Enzo Mingione The double movement and the perspectives of contemporary capitalism 1 The perspectives of contemporary capitalism The current financial and economic crisis of industrialised countries, which started in 2008, has made the interpretation of our societies more difficult. We are in an uncertain and dynamic phase, characterised by high rates of growth in some emerging large countries (China, India and Brazil, up to 2015), high levels of economic interdependence and competition on a global scale, strong de-standardisation trends, increasing social

in Western capitalism in transition
Polanyi’s framework in the age of neoliberalism
Claus Thomasberger

7 Fictitious ideas, social facts and the double movement: Polanyi’s framework in the age of neoliberalism Claus Thomasberger Since the 1990s Karl Polanyi’s The Great Transformation (hereafter, TGT) has become an important point of reference not only for activists and critical minds, but also for social scientists who feel uncomfortable with the current trends of economic globalization, liberalization, privatization and commodification. The increasing influence of the neoliberal creed on economic theory and policy since the 1980s has motivated numerous

in Karl Polanyi and twenty-first-century capitalism
Oscar Ugarteche Galarza

5 Double movement, embeddedness and the transformation of the financial system Oscar Ugarteche Galarza This chapter aims to use Polanyi’s concept of embeddedness and disembeddedness in order to understand how the category of ‘Too Big to Fail’ (TBTF) financial institutions came into being through the double movement of market deregulation and social regulation. The concepts of embeddedness in social regulation and disembeddedness under market regulation permit an understanding of how, as a few TBTF financial institutions re-embedded themselves, becoming risk

in Karl Polanyi and twenty-first-century capitalism

Karl Polanyi (1886–1964) returned to public discourse in the 1990s, when the Soviet Union imploded and globalization erupted. Best known for The Great Transformation, Polanyi’s wide-ranging thought anticipated twenty-first-century civilizational challenges of ecological collapse, social disintegration and international conflict, and warned that the unbridled domination of market capitalism would engender nationalist protective counter-movements. In Karl Polanyi and Twenty-First-Century Capitalism, Radhika Desai and Kari Polanyi Levitt bring together prominent and new thinkers in the field to extend the boundaries of our understanding of Polanyi's life and work. Kari Polanyi Levitt's opening essay situates Polanyi in the past century shaped by Keynes and Hayek, and explores how and why his ideas may shape the twenty-first century. Her analysis of his Bennington Lectures, which pre-dated and anticipated The Great Transformation, demonstrates how Central European his thought and chief concerns were. The next several contributions clarify, for the first time in Polanyi scholarship, the meaning of money as a fictitious commodity. Other contributions resolve difficulties in understanding the building blocks of Polanyi's thought: fictitious commodities, the double movement, the United States' exceptional development, the reality of society and socialism as freedom in a complex society. The volume culminates in explorations of how Polanyi has influenced, and can be used to develop, ideas in a number of fields, whether income inequality, world-systems theory or comparative political economy. Contributors: Fred Block, Michael Brie, Radhika Desai, Michael Hudson, Hannes Lacher, Kari Polanyi Levitt, Chikako Nakayama, Jamie Peck, Abraham Rotstein, Margaret Somers, Claus Thomasberger, Oscar Ugarteche Galarza.

Editor’s Introduction
Juliano Fiori

, freedom from want and freedom from fear. 2 The Dumbarton Oaks Conference took place in Washington, D.C., from August to October 1944. Delegations from the US, the UK, the Soviet Union and China gathered to discuss plans for a post-war international organisation. The United Nations then came into existence in October 1945, when 51 countries ratified its charter in San Francisco. 3 In The Great Transformation , Karl Polanyi refers to a double movement that occurs in the development of the ‘Market

Journal of Humanitarian Affairs
Abstract only
Karl Polanyi in the twenty-first century
Radhika Desai

Europe underwent in his time is so original in its components and their configuration that even those versed in history and interdisciplinary studies approach its full meaning only gradually. And it is so suggestive that it has kept generations trying. This collection contains many contributions, by established and new Polanyi scholars, that push back the bounds of our understanding on many fronts, whether the ideas of fictitious commodities, particularly money, and the double movement, of socialism or of the different historical evolution of continental, British and

in Karl Polanyi and twenty-first-century capitalism
Global processes, local challenges
Alberta Andreotti, David Benassi, and Yuri Kazepov

process, however, is neither homogeneous nor linear, and is very much influenced by the role the different institutions play, their complementarities and their synergistic effects. Indeed, this mix affects the direction and speed of change; the winners and losers and the overall patterns of inequality that stratify different societies (Milanovic 2016). Following Polanyi, and the use that Enzo Mingione has made of Polanyi’s work in recent decades (1991, 1997 and in this volume), we argue that changes in capitalist societies are characterised by a dynamic double movement

in Western capitalism in transition
Where anthropology and sociology share metaphors as analytical tools
Simone Ghezzi

disruption of the economic system. This process was called ‘the double movement’ by Polanyi. He strongly believed that the market of fictitious commodities lies at the root of these tensions, and that the double movement is the most effective way to theorise the continuity of capitalism (and its inner transformation) through the temporary overcoming of such tensions. It is another powerful metaphor that has since been taken up by social scientists to explain the emergence of institutions and socially diversified counter-movements towards deregulating markets and extending

in Western capitalism in transition
Radhika Desai

geopolitical economy. We begin below with appreciating how and why this theme is ignored in Polanyi scholarship. We then clear some interpretational difficulties before going on to discuss fictitious commodities, money as a fictitious commodity and the role of central banks in its double movement. This culminates in showing how this double movement gave rise to crustacean nations and how this development became the ‘proximate cause’ of the ‘catastrophe’. The conclusion stresses the originality of TGT’s account of the geopolitical economy of capitalism and urgency of

in Karl Polanyi and twenty-first-century capitalism
Stages of the soul in early modern English poetry
Author: Angelika Zirker

This study analyses concepts and representations of the soul in the poetry of William Shakespeare and John Donne. During the early modern period, the soul is often presented as an actor on the stage of the poem, and the soul often becomes a stage by itself when conflicts within it are being enacted, in the tradition of psychomachia. The soul thus becomes a linking element between the genres of poetry and drama; at the same time, poetry becomes dramatic whenever the soul is at its focus. This double movement can be observed in the poems by Shakespeare and Donne that are concerned with the fate of the soul and represent inner states and processes: in The Rape of Lucrece the inner drama of the soul is being enacted; the Holy Sonnets are soliloquies by and about the soul. Here, the connection between interiority and performance, psychology and religious self-care can be found which is central to the understanding of early modern drama and its characteristic development of the soliloquy. The study thus offers a new reading of the poems by Shakespeare and Donne by analysing them, in different ways, as staged dialogues within the soul. It furthermore contributes to research on the soliloquy as much as on concepts of inwardness during the early modern period; it shows how the reflection on the soul and religious care for salvation develops in interaction with inwardness and theatrical exposure. It is aimed at readers interested in early modern literature and culture.