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What's Left of Philosophy
106 | Karl Polanyi and the Critique of Market Society
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.
01:02:29
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Quick takeaways
- Karl Polanyi challenges the neoclassical view of markets as natural, arguing that market dominance is a recent historical development.
- He warns against the commodification of essential aspects like labor, land, and money, emphasizing their significance to human existence rather than economic exchange.
Deep dives
The Critique of Economic Determinism
Karl Polanyi critiques the notion that human beings are naturally predisposed to market activities, arguing against the idea that society is inherently structured around market forces. He suggests that the dominance of economic logics is a relatively recent historical phenomenon, emerging primarily after the late 1700s. By emphasizing that labor, land, and money are not commodities but rather essential aspects of human existence and the environment, he reframes the understanding of economics beyond mere profit maximization. This perspective counters the neoclassical view that positions market behavior as a natural extension of human nature, positing that such economic determinism is both historically inaccurate and socially destructive.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode