Tim Bartley — Was Karl Polanyi wrong? Land, labor, and private authority in the global economy

Summary:
Karl Polanyi famously argued that land, labor, and money are “fictitious commodities.” They cannot be fully subjected to the dictates of the market without spurring backlashes that seek to re-embed them in society.… Polanyi was right to see land and labor in parallel, but we should now go further in unpacking globetrotting versus place-based industries and ask why “common good” frames have been so frequently embraced for environmental issues and rejected for global labor issues. Economic Sociology and Political EconomyWas Karl Polanyi wrong? Land, labor, and private authority in the global economy Tim Bartley | Professor of Sociology at Washington University in St. Louis

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