What's Left of Philosophy 106 | Karl Polanyi and the Critique of Market Society
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Jan 27, 2025 Explore Karl Polanyi's groundbreaking critiques of market society and neoclassical economics. Discover the concept of the 'double movement' and its significance in balancing market forces with social needs. Delve into the contrasts between Marxist and Polanyian thought regarding historical and political contexts. Unpack the tension between economic reasoning and human relationships, emphasizing the necessity for human-centered governance in a class-stricken society. Engage with the complexities of class struggles and potential transformative changes against the backdrop of capitalism.
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Market Society Critique
- Karl Polanyi argues against the neoclassical economic view that humans are naturally predisposed to market activities.
- He believes that market dominance is a recent phenomenon, not rooted in human nature.
Fictitious Commodities
- Polanyi identifies land, labor, and money as "fictitious commodities" not inherently produced for market exchange.
- Treating these as commodities leads to social and environmental problems.
Double Movement
- Polanyi's "double movement" describes the cyclical process of marketization followed by social regulation.
- He views this as a fundamental dynamic of modern history.
