The Power of Market Fundamentalism: Karl Polanyi’s Critique
About: This article is published in Thesis Eleven.The article was published on 2014-12-05. It has received 91 citations till now. The article focuses on the topics: Market fundamentalism & Power (social and political).
Citations
More filters
TL;DR: This paper proposed a research agenda for the sociology of recognition and destigmatization, and sketched how social scientists, policymakers, organizations, and citizens can contribute to this research agenda, including institutions, cultural repertoires, knowledge workers, and social movement activists.
Abstract: This Presidential Address offers elements for a systematic and cumulative study of destigmatization, or the process by which low-status groups gain recognition and worth. Contemporary sociologists tend to focus on inequality in the distribution of resources, such as occupations, education, and wealth. Complementing this research, this address draws attention to “recognition gaps,” defined as disparities in worth and cultural membership between groups in a society. I first describe how neoliberalism promotes growing recognition gaps. Then, drawing on research on stigmatized groups across several societies, I analyze how experiences of stigma and destigmatization are enabled and constrained by various contextual factors and actors, including institutions, cultural repertoires, knowledge workers, and social movement activists. I conclude by proposing a research agenda for the sociology of recognition and destigmatization, and by sketching how social scientists, policymakers, organizations, and citizens can c...
175 citations
01 Jan 2017
TL;DR: In this article, the authors present an analysis of the performance of the F1 cars in terms of fuel economy and fuel efficiency, including fuel consumption.4.444 AUTOBIOGRAPHICAL STATEMENT 446
Abstract: 444 AUTOBIOGRAPHICAL STATEMENT 446
81 citations
Book•
16 Oct 2015TL;DR: Hursh as discussed by the authors argues that education policy has been hijacked by unelected and unaccountable corporate reformers who aspire to overhaul the education system through a corporate model of privatization and market competition.
Abstract: In this speech, Hursh shows how public education in the United States is undergoing profound changes. Education policy has been hijacked by the unelected and unaccountable corporate reformers who aspire to overhaul the education system through a corporate model of privatization and market competition. They aim to privatize education through expanding the number of publicly funded privately administered charter schools, and hand over making tests and curriculum to corporations. They desire to replace public state-run teacher education programs with programs run by charter schools, such as the Relay Graduate School. They shift where education policy is made: away from the local and public levels where parents, teachers, community members and students can have input, and towards private and often dark spaces where wealthy philanthropists, corporations, nongovernmental organizations, and hedge fund managers dominate. He also shows how educators, parents, students, and community members have collaborated in pu...
71 citations
Cites background from "The Power of Market Fundamentalism:..."
...Neoliberal reasoning is also reflected in the Supreme Court’s injunction blocking President Obama’s efforts to regulate emissions from coal-fired plants, therefore demonstrating the court’s prioritizing profits over planetary survival (Block and Somers, 2014)....
[...]
TL;DR: The authors examined neighborhoods in the American Rust Belt where ad hoc demolition has been the predominant urban policy in the past 40 years and found that these activities have led to more housing loss and affected more land area than even the urban renewal period, yet have not led to market rebound or a decrease in social marginality.
Abstract: Demolition has long been a component of urban policy in the United States and elsewhere. Until recently, however, demolition was seen as a mere component of a wider policy—e.g. the first step to build an affordable housing complex, or a revived commercial strip. Recently some have suggested that demolition can have stand-alone regenerative effects—that is, if blighted housing is demolished, surrounding markets and neighborhoods will heal and regenerate without further intervention. This article challenges this logic by examining neighborhoods in the American Rust Belt where ad hoc demolition has been the predominant urban policy in the past 40 years. In total, there are 269 neighborhoods in 49 cities that have lost more than 50% of their housing since 1970. In aggregate, these activities have led to more housing loss, and affected more land area than even the urban renewal period, yet have not led to market rebound or a decrease in social marginality.
69 citations
Cites background from "The Power of Market Fundamentalism:..."
...This paradigm stems broadly from an ideational turn in the social sciences which explores the independent production and influence of ideas on policy (Block and Sommers, 2014)....
[...]
TL;DR: In this paper, the authors consider support for just transition policies among local policy actors in the Mountain West region, focusing on the role of accountability and community economic identity, indicating that comprehensive program to assist communities and workers negatively impacted by the energy transition might be politically possible.
Abstract: The U.S. energy system is currently undergoing significant transition as unconventional drilling technologies have drastically increased the volume of natural gas and oil produced domestically, the cost of renewables has declined, and coal production has plummeted. Scholars and activists have increasingly argued for a just transition policy framework to assist displaced coal miners. In this analysis, we consider support for just transition policies among local policy actors in the Mountain West region, focusing on the role of accountability and community economic identity. Results suggest that policies to assist displaced coal miners enjoy broad support among local policy actors, indicating that comprehensive program to assist communities and workers negatively impacted by the energy transition might be politically possible.
69 citations
References
More filters
Book•
28 Mar 2001
TL;DR: In this paper, the key to the institutional system of the 19 century lay in the laws governing market economy, which was the fount and matrix of the system was the self-regulating market, and it was this innovation which gave rise to a specific civilization.
Abstract: But the fount and matrix of the system was the self-regulating market. It was this innovation which gave rise to a specific civilization. The gold standard was merely an attempt to extend the domestic market system to the international field; the balance of power system was a superstructure erected upon and, partly, worked through the gold standard; the liberal state was itself a creation of the self-regulating market. The key to the institutional system of the 19 century lay in the laws governing market economy. (p. 3).
8,514 citations
Book•
17 Apr 2008
TL;DR: Ewald and Fontana as discussed by the authors proposed a Content Index of Notions Index of Names (CIINN) index of names for the content index of the Course Content Index (CICN).
Abstract: Foreword: Francois Ewald and Alessandro Fontana Introduction: Arnold I. Davidson 10 January 1979 17 January 1979 24 January 1979 31 January 1979 7 February 1979 14 February 1979 21 February 1979 7 March 1979 14 March 1979 21 March 1979 28 March 1979 4 April 1979 Course Summary Course Content Index of Notions Index of Names
4,329 citations
Book•
01 Jan 2007
TL;DR: The Shock Doctrine as mentioned in this paper is one of the most popular non-fiction books of the year in the UK and the US, and it has been widely cited as the best book of all time.
Abstract: Around the world in Britain, the United States, Asia and the Middle East, there are people with power who are cashing in on chaos; exploiting bloodshed and catastrophe to brutally remake our world in their image. They are the shock doctors. Exposing these global profiteers, Naomi Klein discovered information and connections that shocked even her about how comprehensively the shock doctors' beliefs now dominate our world - and how this domination has been achieved. Raking in billions out of the tsunami, plundering Russia, exploiting Iraq - this is the chilling tale of how a few are making a killing while more are getting killed. "Packed with thinking dynamite...a book to be read everywhere." (John Berger). "If you only read one non-fiction book this year, make it this one." (Metro Books of the Year). "There are a few books that really help us understand the present. The Shock Doctrine is one of those books." (John Gray, Guardian). "A brilliant book written with a perfectly distilled anger, channelled through hard fact. She has indeed surpassed No Logo." (Independent).
2,713 citations
Book•
25 Jun 2013
TL;DR: The authors argues that, as in classic studies of cognitive dissonance, neoliberal thought has become so pervasive that any countervailing evidence serves only to further convince disciples of its ultimate truth.
Abstract: At the onset of the Great Recession, as house prices sank and joblessness soared, many commentators thought that neoliberalism itself was in its death throes. And yet it seems that - post-apocalypse - we've woken into a second nightmare more ghastly than the first: a political class still blaming government intervention, a global drive for austerity, stagflation, and exploding sovereign debt crises. The economics profession has weathered the crisis by pumping noise and confusion into our attempts to understand the unfolding disasters. Philip Mirowski argues that, as in classic studies of cognitive dissonance, neoliberal thought has become so pervasive that any countervailing evidence serves only to further convince disciples of its ultimate truth. Once neoliberalism became a Theory of Everything - a revolutionary account of self, knowledge, information, markets, and government - it could no longer be falsified by mere data from the "real" economy. In this sharp, witty and deeply informed account - taking no prisoners in his pursuit of "zombie" economists - Mirowski surveys the wreckage of what passes for economic thought, and finally provides the basis for an anti-neoliberal account of the current crisis and our future prospects.
598 citations
TL;DR: In this article, the authors argue that integration through law does have a liberalizing and deregulatory impact on the socioeconomic regimes of European Union member states, but this effect is generally compatible with the status quo in liberal market economies, but it tends to undermine the institutions and policy legacies of Continental and Scandinavian social market economies.
Abstract: Judge-made law has played a crucial role in the process of European integration. In the vertical dimension, it has greatly reduced the range of autonomous policy choices in the member states, and it has helped to expand the reach of European competences. At the same time, however, ‘integration through law’ does have a liberalizing and deregulatory impact on the socio-economic regimes of European Union member states. This effect is generally compatible with the status quo in liberal market economies, but it tends to undermine the institutions and policy legacies of Continental and Scandinavian social market economies. Given the high consensus requirements of European legislation, this structural asymmetry cannot be corrected through political action at the European level.
435 citations