Double Movement Theory
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The Great Transformation
One of the twentieth century’s most important pieces of social and economic theory, highlighting the rise and reality of capitalism as it shaped our world A limited Beacon Classics edition In this classic work of economic history and social theory, Karl Polanyi tracks the economic and social changes brought about by the “great transformation” of the Industrial Revolution. He pays particular attention to capitalism’s rise and its role in fundamentally altering life after the Industrial Revolution. While previous economic arrangements were embedded within social relations, capitalism reverses this: social relations are defined by economic relations. This seminal analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. In an era of ever-increasing globalization and free trade, Polanyi’s cogent historical, social, and economic analysis offers grounded insight into the inner workings of the modern world. Polanyi suggests that capitalism is a historical anomaly. The rules of reciprocity, redistribution and communal obligations were far more consistent as guiding principles of exchange than market relations throughout human history. Capitalism, however, does not exhibit these obligations, and in fact its rise irreversibly destroyed them. The true "great transformation" of the industrial revolution was to completely replace all modes of interaction with capitalism and market relations, forever altering the function, and result, of human relations. Now with a new hardcover package, this treatise from one of the greatest thinkers of the 20th century will illuminate seminal economic and social theory for fans old and new.
Karl Polanyi and the Paradoxes of the Double Movement
This book offers a critical reconstruction of the double movement, the central thesis of Karl Polanyi’s The Great Transformation, one of the most influential books of the 20th century. The double movement is the establishment of a free market economy and the subsequent effort by society to ameliorate the destructive effects of the market. In Polanyi’s bold vision, the double movement constituted the hidden gear of social change and historical transformation within capitalism. The book is a forensic examination and critique of Polanyi’s argument. It develops an interpretive framework of the double movement as four interrelated social processes: the establishment of the self-regulating market, the rise of a market society that deepens and extends market imperatives, a social protection phase that constrains the market and safeguards society, and the contradictions and crises that result from this clash of social principles. The book will be an indispensable guide for students and scholars across the social sciences which illuminates the relevance of Polanyi’s insights to a critical understanding of the contemporary era –the scourge of insecurity and inequality, the multiple crises of neoliberalism, the rise of right wing populism- as well as those interested in egalitarian and emancipatory alternatives to capitalism.
Great Transformations
Author: Mark Blyth
language: en
Publisher: Cambridge University Press
Release Date: 2002-09-16
This book picks up where Karl Polanyi's study of economic and political change left off. Building upon Polanyi's conception of the double movement, Blyth analyzes the two periods of deep seated institutional change that characterized the twentieth century: the 1930s and the 1970s. Blyth views both sets of changes as part of the same dynamic. In the 1930s labor reacted against the exigencies of the market and demanded state action to mitigate the market's effects by 'embedding liberalism.' In the 1970s, those who benefited least from such 'embedding' institutions, namely business, reacted against these constraints and sought to overturn that institutional order. Blyth demonstrates the critical role economic ideas played in making institutional change possible. Great Transformations rethinks the relationship between uncertainty, ideas, and interests, achieving profound new insights on how, and under what conditions, institutional change takes place.