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The future was social

Stefan Collini: Karl Polanyi’s Predictions, 23 January 2025

The Great Transformation: The Political and Economic Origins of Our Time 
by Karl Polanyi.
Penguin, 358 pp., £10.99, June 2024, 978 0 241 68555 6
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... an Austro-Hungarian journalist who only arrived in Britain at the beginning of 1934.Born in 1886, Karl Polanyi described himself as a Westernised ‘Magyar-Jewish mongrel’ who grew up in the ‘Bloomsbury-on-Danube’ world of the liberal bourgeoisie in Budapest which flourished in the decades before 1914 (György Lukács and ...

Qui êtes-vous, Sir Moses?

C.R. Whittaker, 6 March 1986

Ancient History: Evidence and Models 
by M.I. Finley.
Chatto, 131 pp., £12.95, September 1985, 0 7011 3003 2
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... The Ancient Economy, first published in 1971, struck a chord. Constructed on models derived from Karl Polanyi and Max Weber, both of whom had exercised a strong influence on Finley in his early career, the book aimed to demonstrate that the economic behaviour of the ancient Greeks and Romans was determined not, as we instinctively assume, by concepts ...

An Example of the Good Life

Steven Shapin: Michael Polanyi, 15 December 2011

Michael Polanyi and His Generation: Origins of the Social Construction of Science 
by Mary Jo Nye.
Chicago, 405 pp., £29, October 2011, 978 0 226 61063 4
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... Michael Polanyi lives on in the footnotes. If you want to invoke the idea of ‘tacit knowledge’, Polanyi is your reference of choice. You’ll probably cite his major book Personal Knowledge (1958), maybe the earlier Science, Faith and Society (1946), maybe the later The Tacit Dimension (1966 ...

Short Cuts

Abby Innes: State Capture, 16 December 2021

... ago the global financial crisis proved definitively that the EMH is the mother of all grifts. As Karl Polanyi wrote in 1944, ‘to suppose that there exists some smoothly functioning automatic mechanism of adjustment which preserves equilibrium, if only we trust to methods of laissez-faire, is a doctrinaire delusion which disregards the lessons of ...

Braudel’s Long Term

Peter Burke, 10 January 1983

Civilization and Capitalism, 15th-18th Century: Vol. I. The Structures of Everyday Life 
by Fernand Braudel, translated by Siân Reynolds.
Collins, 623 pp., £15, October 1981, 0 00 216303 9
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Civilization and Capitalism, 15th-18th Century: Vol. II. The Wheels of Commerce 
by Fernand Braudel, translated by Siân Reynolds.
Collins, 670 pp., £17.50, November 1982, 9780002161329
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Civilisation matérielle, économie et capitalisme, XVe-XVIIIe siècle: Vol. III. Le temps du monde 
by Fernand Braudel.
Armand Colin, 607 pp., frs 250, May 1979, 2 253 06457 2
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... economists, such as J.A. Schumpeter and Simon Kuznets, not to mention the unclassifiable polymath Karl Polanyi, debates with whom have a central place in the volume. Polanyi argued that the self-regulating market economy had emerged only recently in world history, in the course of the ‘Great Transformation’, as he ...

Lying abroad

Fred Halliday, 21 July 1994

Diplomacy 
by Henry Kissinger.
Simon and Schuster, 912 pp., £25, May 1994, 9780671659912
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True Brits: Inside the Foreign Office 
by Ruth Dudley Edwards.
BBC, 256 pp., £16.99, April 1994, 0 563 36955 8
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Mandarin: The Diaries of Nicholas Henderson 
by Nicholas Henderson.
Weidenfeld, 517 pp., £20, May 1994, 0 297 81433 8
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... marks this off as a work of limited intellectual scope. One conspicuously absent authority is Karl Polanyi, whose The Great Transformation, published in 1944, aims perceptively both to locate international politics in their social and economic setting, and to provide an alternative account of the most successful of Kissinger’s grand strategies, the ...

Mr Lukacs changes trains

Edward Timms, 19 February 1987

Georg Lukacs: Selected Correspondence 1902-1920 
translated by Judith Marcus and Zoltan Tar.
Columbia, 318 pp., $25, September 1986, 9780231059688
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... complete self-commitment. Lukacs’s conversion, on this view, is analogous to that of the young Karl Marx: the theorist of alienation converted to Communism under the pressure of political events. And this conversion has been assigned exemplary significance. ‘After Marx,’ Löwy suggests, ‘Lukacs is probably the most important traditional intellectual ...

Habits of Empire

David Priestland: Financial Imperialism, 27 July 2023

The Meddlers: Sovereignty, Empire, and the Birth of Global Economic Governance 
by Jamie Martin.
Harvard, 345 pp., £34.95, June 2022, 978 0 674 97654 2
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... a third of the total) and a punishing recession, but his actions provoked strong opposition. As Karl Polanyi put it, this was a ‘brilliantly successful operation on Austria’s krone, which the patient, unfortunately, did not survive’. Meddling involved more than cuts and currency policing. After the Turkish-Greek population exchange of 1923, when ...

Why did we not know?

Ian Jack: Who is hoarding the land?, 23 May 2019

The New Enclosure: The Appropriation of Public Land in Neoliberal Britain 
by Brett Christophers.
Verso, 394 pp., £20, November 2018, 978 1 78663 158 9
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... bankers. They would have understood its obvious function, articulated by the economic historian Karl Polanyi as ‘the site of [mankind’s] habitation … a condition of his physical safety … the landscape and the seasons … only another name for nature’. They would have agreed with Polanyi that we might as ...

Free-Marketeering

Stephen Holmes: Naomi Klein, 8 May 2008

The Shock Doctrine 
by Naomi Klein.
Penguin, 558 pp., £8.99, June 2008, 978 0 14 102453 0
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... was not averse to his anti-Keynesian programme being enforced at the point of a gun. But it is Karl Polanyi, according to Klein, who explains better than Friedman the physical coercion required to establish a market society. Polanyi argues that capitalism can be created only if centrally organised violence is ...

Against Responsibility

William Davies, 8 November 2018

Family Values: Between Neoliberalism and the New Social Conservatism 
by Melinda Cooper.
Zone, 447 pp., £24, March 2017, 978 1 935408 84 0
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... defend. What is less excusable, in Cooper’s view, is that critiques of neoliberalism inspired by Karl Polanyi have looked to the patriarchal family as a source of resistance to the free market, advocating a social democratic model inspired by 1950s Keynesianism in which traditional gender roles regarding duty and care could prosper, unthreatened by ...

What’s Missing

Katrina Navickas: Tawney, Polanyi, Thompson, 11 October 2018

The Moral Economists: R.H. Tawney, Karl Polanyi, E.P. Thompson and the Critique of Capitalism 
by Tim Rogan.
Princeton, 263 pp., £30, December 2017, 978 0 691 17300 9
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... and forming the first mass movements in support of democracy. The third book Rogan discusses is Karl Polanyi’s The Great Transformation: The Political and Economic Origins of Our Time, published in 1944. The book sought to explain why a long period of peace and stability in Europe ended suddenly and violently with the First World War and the Great ...

The New World Disorder

Tariq Ali, 9 April 2015

... political alternatives, it won’t just be Marx’s work that is relegated to the graveyard. Karl Polanyi, the most gifted of the social democratic theorists, has suffered the same fate. We have seen the development of a form of government I call the extreme centre, which currently rules over large tracts of Europe and includes left, centre ...

What’s not to like?

Stefan Collini: Ernest Gellner, 2 June 2011

Ernest Gellner: An Intellectual Biography 
by John Hall.
Verso, 400 pp., £29.99, July 2010, 978 1 84467 602 6
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... in substantive historical content, he at times appeared to be an unholy combination of Karl Polanyi and C.P. Snow. The datedness of those names says something about his trajectory as well as about his affinities with a style of brisk Austro-English positivism in social science. And yet that description is itself too brisk, and in particular ...

Getting Rich

Pankaj Mishra: In Shanghai, 30 November 2006

... and draw on a broad range of thinkers on political economy – John Stuart Mill, Braudel, Karl Polanyi, Immanuel Wallerstein, Joseph Stiglitz – in their critique of the neo-liberal model of growth. In recent years, Cui’s articles in Dushu, a monthly journal of ideas co-edited by Wang Hui, the New Left author of a history of modern Chinese ...

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