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Double Movement
The Double Movement is a concept originating with Karl Polanyi in his book '' The Great Transformation''. The phrase refers to the dialectical process of marketization and push for social protection against that marketization. First, laissez-faire reformers seek to " disembed" the economy in order to establish what Polanyi calls a "market society" wherein all things are commodified, including what Polanyi terms "false commodities": land, labor, and money. Second, a reactionary "countermovement" arises whereby society attempts to re-embed the economy through the creation of social protections such as labor laws and tariffs. In Polanyi's view, these liberal reformers seek to subordinate society to the market economy, which is taken by these reformers to be self-regulating. To Polanyi, this is a utopian project, as economies are always embedded in societies. Overview According to ''The Great Transformation'', the development of "market society" has been formed by the Double Movement. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Karl Polanyi
Karl Paul Polanyi (; hu, Polányi Károly ; 25 October 1886 – 23 April 1964),''Encyclopædia Britannica'' (Chicago: Encyclopædia Britannica Inc. 2003) vol 9. p. 554 was an Austro-Hungarian economic anthropologist and politician, best known for his book '' The Great Transformation,'' which questions the conceptual validity of self-regulating markets. In his writings, Polanyi advances the concept of the Double Movement, which refers to the dialectical process of marketization and push for social protection against that marketization. He argues that market-based societies in modern Europe were not inevitable but historically contingent. Polanyi is remembered best as the originator of substantivism, a cultural version of economics, which emphasizes the way economies are embedded in society and culture. This opinion is counter to mainstream economics but is popular in anthropology, economic history, economic sociology and political science. Polanyi's approach to the ancient ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Torben Iversen
Torben Iversen is a Danish political economist, currently Harold Hitchings Burbank Professor of Political Economy at Harvard University. In 2016, he was named BP Centennial Professor at the London School of Economics The London School of Economics and Political Science (LSE) is a public university, public research university located in London, England and a constituent college of the federal University of London. Founded in 1895 by Fabian Society members Sidn .... References Year of birth missing (living people) Living people Political economists Harvard University faculty {{Denmark-bio-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Substantivism
Substantivism is a position, first proposed by Karl Polanyi in his work '' The Great Transformation'' (1944), which argues that the term 'economics' has two meanings. The formal meaning, used by today's neoclassical economists, refers to economics as the logic of rational action and decision-making, as rational choice between the alternative uses of limited (scarce) means, as 'economising,' 'maximizing,' or 'optimizing.'Polanyi, Karl. (1944) ''The Great Transformation: the Political and Economic Origins of Our Time'', Farrar and Rinehart, New York The second, substantive meaning presupposes neither rational decision-making nor conditions of scarcity. It refers to how humans make a living interacting within their social and natural environments. A society's livelihood strategy is seen as an adaptation to its environment and material conditions, a process which may or may not involve utility maximisation. The substantive meaning of 'economics' is seen in the broader sense of 'provisi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Embedded Liberalism
Embedded liberalism is a term in international political economy for the global economic system and the associated international political orientation as they existed from the end of World War II to the 1970s. The system was set up to support a combination of free trade with the freedom for states to enhance their provision of welfare and to regulate their economies to reduce unemployment. The term was first used by the American political scientist John Ruggie in 1982. Mainstream scholars generally describe embedded liberalism as involving a compromise between two desirable but partially conflicting objectives. The first objective was to revive free trade. Before World War I, international trade formed a large portion of global GDP, but the classical liberal order which supported it had been damaged by war and by the Great Depression of the 1930s. The second objective was to allow national governments the freedom to provide generous welfare programmes and to intervene in their e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Ruggie
John Gerard Ruggie (18 October 1944 – 16 September 2021) was the Berthold Beitz Research Professor in Human Rights and International Affairs at Harvard Kennedy School at Harvard University and an affiliated professor in international legal studies at Harvard Law School. He was an influential scholar in the field of international relations, as well as an influential policy-maker in the United Nations. In the field of international relations, Ruggie made contributions to international regimes, constructivism, epistemes, multilateralism, and embedded liberalism. His 1982 article on Embedded Liberalism is the most widely cited article in international political economy. Early life and education Ruggie was born in Graz, Austria in 1944 and raised in Toronto, Canada. He had a BA in politics and history from McMaster University in Canada. Ruggie moved to the United States to attend graduate school, earning a PhD in political science from the University of California, Berkeley. At B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter J
Peter may refer to: People * List of people named Peter, a list of people and fictional characters with the given name * Peter (given name) ** Saint Peter (died 60s), apostle of Jesus, leader of the early Christian Church * Peter (surname), a surname (including a list of people with the name) Culture * Peter (actor) (born 1952), stage name Shinnosuke Ikehata, Japanese dancer and actor * ''Peter'' (album), a 1993 EP by Canadian band Eric's Trip * ''Peter'' (1934 film), a 1934 film directed by Henry Koster * ''Peter'' (2021 film), Marathi language film * "Peter" (''Fringe'' episode), an episode of the television series ''Fringe'' * ''Peter'' (novel), a 1908 book by Francis Hopkinson Smith * "Peter" (short story), an 1892 short story by Willa Cather Animals * Peter, the Lord's cat, cat at Lord's Cricket Ground in London * Peter (chief mouser), Chief Mouser between 1929 and 1946 * Peter II (cat), Chief Mouser between 1946 and 1947 * Peter III (cat), Chief Mouser between 1947 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dani Rodrik
Dani Rodrik (born August 14, 1957) is a Turkish economist and Ford Foundation Professor of International Political Economy at the John F. Kennedy School of Government at Harvard University. He was formerly the Albert O. Hirschman Professor of the Social Sciences at the Institute for Advanced Study in Princeton, New Jersey. He has published widely in the areas of international economics, economic development, and political economy. The question of what constitutes good economic policy and why some governments are more successful than others at adopting it is at the center of his research. His works include ''Economics Rules: The Rights and Wrongs of the Dismal Science'' and ''The Globalization Paradox: Democracy and the Future of the World Economy''. He is also joint editor-in-chief of the academic journal ''Global Policy''. Biography Rodrik is descended from a family of Sephardic Jews. After graduating from Robert College in Istanbul, [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Failure
In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value. Market failures can be viewed as scenarios where individuals' pursuit of pure self-interest leads to results that are not efficient – that can be improved upon from the societal point of view.Paul Krugman and Robin Wells (2006). ''Economics'', New York, Worth Publishers. The first known use of the term by economists was in 1958, Francis M. Bator (1958). "The Anatomy of Market Failure," ''Quarterly Journal of Economics'', 72(3) pp351–379(press +). but the concept has been traced back to the Victorian philosopher Henry Sidgwick.Steven G. Medema (2007). "The Hesitant Hand: Mill, Sidgwick, and the Evolution of the Theory of Market Failure," ''History of Political Economy'', 39(3), p. 331€“358. 200Online Working Paper. Market failures are often associated with public goods, time-inconsistent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Soskice
David William Soskice, FBA (born 6 July 1942) is a British political economist and academic. He is currently the LSE School Professor of Political Science and Economics at the London School of Economics. Early life and education Soskice was born as son of the British Labour Home Secretary Frank Soskice and his wife Susan Isabella Cloudsley Soskice (née Hunter) in London. He shares his first name with his grandfather, the Russian revolutionary journalist , who had fled to England. His paternal grandmother was Juliet Catherine Emma Soskice (née Hueffer), daughter of Francis Hueffer and Catherine Madox Brown, sister of Ford Madox Ford and Oliver Madox Hueffer, granddaughter of Ford Madox Brown, half-niece of Lucy Madox Brown and cousin of Olivia Rossetti Agresti. Soskice was educated at Winchester College and studied Political science, Philosophy and Economics at Nuffield and at Trinity College, Oxford. Academic career Between 1967 and 1990, he worked as Lecturer in Economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mark Blyth
Mark McGann Blyth (born 29 September 1967) is a Scottish-American political scientist. He is currently the William R. Rhodes Professor of International Economics and Professor of International and Public Affairs at Brown University. At Brown, Blyth additionally directs the William R. Rhodes Center for International Economics and Finance at the Watson Institute for International and Public Affairs. Early life Blyth grew up in Dundee, Scotland and was raised by his grandmother after his mother died shortly after child birth. He played bass in rock bands and noted in an interview that "I was a musician from age 14 to 28. I've released five or six albums, but all with independent labels that never went anywhere. If they had, I wouldn't be here. I'd be lying on a beach with Heidi Klum." In 1991, Blyth received a Walker Bequest award from the University of Strathclyde and a Scottish International Educational Trust Award for Study in the United States. He eventually became a US citi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Great Transformation (book)
''The Great Transformation'' is a book by Karl Polanyi, a Hungarian-American political economist. First published in 1944 by Farrar & Rinehart, it deals with the social and political upheavals that took place in England during the rise of the market economy. Polanyi contends that the modern market economy and the modern nation-state should be understood not as discrete elements but as the single human invention he calls the "Market Society". A distinguishing characteristic of the "Market Society" is that humanity's economic mentalities have been changed. Prior to the great transformation, people based their economies on reciprocity and redistribution across personal and communal relationships.Polanyi, ''The Great Transformation'', ch. 4 As a consequence of industrialization and increasing state influence, competitive markets were created that undermined these previous social tendencies, replacing them with formal institutions that aimed to promote a self-regulating market econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberalism
Liberalism is a political and moral philosophy based on the rights of the individual, liberty, consent of the governed, political equality and equality before the law."political rationalism, hostility to autocracy, cultural distaste for conservatism and for tradition in general, tolerance, and ... individualism". John Dunn. ''Western Political Theory in the Face of the Future'' (1993). Cambridge University Press. . Liberals espouse various views depending on their understanding of these principles. However, they generally support private property, market economies, individual rights (including civil rights and human rights), liberal democracy, secularism, rule of law, economic and political freedom, freedom of speech, freedom of the press, freedom of assembly, and freedom of religion. Liberalism is frequently cited as the dominant ideology of modern times.Wolfe, p. 23.Adams, p. 11. Liberalism became a distinct movement in the Age of Enlightenment, gaining popularity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
