The Power of Market Fundamentalism - Karl Polanyi`s Critique

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Last updated on May 15, 2025 07:35:19 PDTView all revisionsView all revisions

Item specifics

Condition
Brand New: A new, unread, unused book in perfect condition with no missing or damaged pages. See the ...
EAN
9780674970885
UPC
9780674970885
ISBN
9780674970885
MPN
N/A
Book Title
The Power of Market Fundamentalism - Karl Polanyi`
Subject Area
Political Science, Business & Economics
Publication Name
Power of Market Fundamentalism : Karl Polanyi's Critique
Publisher
Harvard University Press
Item Length
0.9 in
Subject
Political Economy, Economics / General, Public Policy / Economic Policy, Economics / Theory, Free Enterprise
Publication Year
2016
Type
Textbook
Format
Trade Paperback
Language
English
Item Height
0.1 in
Author
Fred Block, Margaret R. Somers
Item Weight
15.9 Oz
Item Width
0.6 in
Number of Pages
312 Pages

About this product

Product Identifiers

Publisher
Harvard University Press
ISBN-10
0674970888
ISBN-13
9780674970885
eBay Product ID (ePID)
221950586

Product Key Features

Number of Pages
312 Pages
Publication Name
Power of Market Fundamentalism : Karl Polanyi's Critique
Language
English
Publication Year
2016
Subject
Political Economy, Economics / General, Public Policy / Economic Policy, Economics / Theory, Free Enterprise
Type
Textbook
Subject Area
Political Science, Business & Economics
Author
Fred Block, Margaret R. Somers
Format
Trade Paperback

Dimensions

Item Height
0.1 in
Item Weight
15.9 Oz
Item Length
0.9 in
Item Width
0.6 in

Additional Product Features

Intended Audience
Scholarly & Professional
Dewey Edition
23
Reviews
A timely book. More and more people are reading and quoting Polanyi, but they don't always understand him. The Power of Market Fundamentalism undertakes to situate Polanyi's thinking in our time and relate it to the events that have taken place since the publication of The Great Transformation in 1944. It also draws on biographical material in a way that only the two authors are able to. It does an excellent job of exploring how the world changed in a neoliberal direction when at the end of World War II everyone believed that capitalism would forever be under control.
TitleLeading
The
Illustrated
Yes
Dewey Decimal
330.157
Synopsis
What is it about free-market ideas that give them tenacious staying power in the face of such manifest failures as persistent unemployment, widening inequality, and the severe financial crises that have stressed Western economies over the past forty years? Fred Block and Margaret Somers extend the work of the great political economist Karl Polanyi to explain why these ideas have revived from disrepute in the wake of the Great Depression and World War II, to become the dominant economic ideology of our time. Polanyi contends that the free market championed by market liberals never actually existed. While markets are essential to enable individual choice, they cannot be self-regulating because they require ongoing state action. Furthermore, they cannot by themselves provide such necessities of social existence as education, health care, social and personal security, and the right to earn a livelihood. When these public goods are subjected to market principles, social life is threatened and major crises ensue. Despite these theoretical flaws, market principles are powerfully seductive because they promise to diminish the role of politics in civic and social life. Because politics entails coercion and unsatisfying compromises among groups with deep conflicts, the wish to narrow its scope is understandable. But like Marx's theory that communism will lead to a "withering away of the State," the ideology that free markets can replace government is just as utopian and dangerous., What is it about free-market ideas that gives them staying power in the face of such failures as persistent unemployment, widening inequality, and financial crises? The Power of Market Fundamentalism extends economist Karl Polanyi's work to explain why these dangerous utopian ideas have become the dominant economic ideology of our time.
LC Classification Number
HB102.P64B56 2016

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