Karl Polanyi

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R.I.P
Karl

Karl Paul Polanyi (; Hungarian: Polányi Károly [ˈpolaːɲi ˈkaːroj]; 25 October 1886 – 23 April 1964) was an Austro-Hungarian economic historian, economic sociologist, 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 economies has been applied to a variety of cases, such as Pre-Columbian America and ancient Mesopotamia, although its utility to the study of ancient societies in general has been questioned. Polanyi's The Great Transformation became a model for historical sociology. His theories eventually became the foundation for the economic democracy movement. Polanyi was active in politics, and helped found the National Citizens' Radical Party in 1914, serving as its secretary.…Citește mai mult

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Early life Karl Polanyi was born in Vienna and raised in Budapest by a German‑speaking Jewish family assimilating into the secular middle class. His younger brother was Michael Polanyi, a philosopher, and his niece was Eva Zeisel, a world-renowned ceramist. He was born in Vienna, at the time the capital of the Austro-Hungarian Empire. His father, Mihály Pollacsek, was a railway entrepreneur. Mihály never changed the name Pollacsek, and is buried in the Jewish cemetery in Budapest. Mihály died in January 1905, which was an emotional shock to Karl, and he commemorated the anniversary of Mihály's death throughout his life. Karl and Michael Polanyi's mother was Cecília Wohl. The name change to Polanyi was made by Karl and his siblings. Polanyi was well educated despite the ups and downs of his father's fortune, and he immersed himself in Budapest's active intellectual and artistic scene. Polanyi studied at the Minta Gymnasium.

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Early career Polanyi founded the radical and influential Galileo Circle while at the University of Budapest, a club which would have far reaching effects on Hungarian intellectual thought. During this time, he was actively engaged with other notable thinkers, such as György Lukács, Oszkár Jászi, and Karl Mannheim. Polanyi graduated from Budapest University in 1912 with a doctorate in Law. In 1914, he helped found the National Citizens' Radical Party of Hungary and served as its secretary. Polanyi was a cavalry officer in the Austro-Hungarian Army in World War I, in active service at the Russian Front and hospitalized in Budapest. Polanyi supported the republican government of Mihály Károlyi and its Social Democratic regime. The republic was short-lived, with socialist Béla Kun toppling the Karolyi government to create the Hungarian Soviet Republic. Polanyi left Hungary for Vienna in order to undergo medical treatment. During this time, the Kun government was replaced by the right-wing authoritarian regime of Admiral Horthy. As a consequence, Polanyi left Hungary permanently.

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In Vienna From 1924 to 1933, he was employed as a senior editor of the prestigious Der Österreichische Volkswirt (The Austrian Economist) magazine. It was at this time that he first began criticizing the Austrian school of economics, which he felt created abstract models that lost sight of the organic, interrelated reality of economic processes. Polanyi himself was attracted to Fabianism and the works of G. D. H. Cole. It was also during this period that Polanyi first developed an interest in Christian socialism. Polanyi married the communist revolutionary Ilona Duczyńska, who was of Polish-Hungarian background. Their daughter Kari Polanyi Levitt carried on the family tradition of academic economic research.

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In London Polanyi was asked to resign from Der Oesterreichische Volkswirt because the liberal publisher of the journal could not keep on a prominent socialist after the accession of Hitler to office in January 1933 and the suspension of the Austrian parliament by the rising tide of clerical fascism in Austria. He left for London in 1933, where he earned a living as a journalist and tutor and obtained a position as a lecturer for the Workers' Educational Association in 1936. His lecture notes contained the research for what later became The Great Transformation. However, he would not start writing this work until 1940, when he moved to Vermont to take up a position at Bennington College. Polanyi had for many years sought employment at British universities but was unsuccessful. The book was published in 1944, to great acclaim. In it, Polanyi described the enclosure process in England and the creation of the contemporary economic system at the beginning of the 19th century.

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United States and Canada Polanyi joined the staff of Bennington College in 1940, teaching a series of five timely lectures on the "Present Age of Transformation". The lectures "The Passing of the 19th Century", "The Trend Towards an Integrated Society", "The Breakdown of the International System", "Is America an Exception?", and "Marxism and the Inner History of the Russian Revolution" took place during the early stages of World War II. Polanyi participated in Bennington's Humanism Lecture Series (1941) and Bennington College's Lecture Series (1943) where his topic was "Jean Jacques Rousseau: Or Is a Free Society Possible?" After the war, Polanyi received a teaching position at Columbia University (1947–1953). However, his wife, Ilona Duczyńska (1897–1978), had a background as a former communist, which made gaining an entrance visa in the United States impossible. As a result, they moved to Canada, and Polanyi commuted to New York City. In the early 1950s, Polanyi received a large grant from the Ford Foundation to study the economic systems of ancient empires. Having described the emergence of the modern economic system, Polanyi now sought to understand how "the economy" emerged as a distinct sphere in the distant past. His seminar at Columbia drew several…Citește mai mult

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Selected works Dalton, George, ed. Primitive, Archaic, and Modern Economics: Essays of Karl Polanyi (New York: Doubleday & Company, 1968); collected essays and selections from his work. Pearson, Harry W., ed. The Livelihood of Man (Academic Press, 1977) Polanyi, Karl. The Great Transformation: The Political and Economic Insights of Our Time (Boston: Beacon Press. 1944) ISBN 0-8070-5679-0 Polanyi, Karl, Conrad M. Arensberg, and Harry W. Person, eds. Trade and Market in the Early Empires (Glencoe, Ill.: The Free Press, 1957) Polanyi, Karl. Dahomey and the Slave Trade: An Analysis of an Archaic Economy (Seattle: University of Washington Press, 1966). Polanyi, Karl. For a New West: Essays, 1919–1958 (Polity Press, 2014), ISBN 978-0745684444

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Articles "Socialist Accounting" (1922) "The Essence of Fascism" (1933–1934); article "Universal Capitalism or Regional Planning?", The London Quarterly of World Affairs, vol. 10 (3) (1945)

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Further reading Adaman, Fikret, Pat Devine, eds. Economy and Society: Money, Capitalism and Transition. Black Rose Books, 2002. Additional subtitle: reciprocity, redistribution, and exchange: embedding the economy in society. Essays based on the legacy of Karl Polanyi. Aulenbacher, Brigitte, et al. (ed.), Karl Polanyi, the life and works of an epochal thinker. Falter Verlag, 2020. Block, Fred and Somers, Margaret, The Power of Market Fundamentalism : Karl Polanyi's Critique. Cambridge, Massachusetts : Harvard University Press, 2014. Brie, Michael (ed.), Karl Polanyi in dialogue : a socialist thinker for our times, Montreal : Black Rose Books, 2017. Brie, Michael and Thomasberger, Claus, Karl Polanyi's vision of a socialist transformation. Montreal : Black Rose Books, 2018. Dale, Gareth, Karl Polanyi : a life on the left, New York : Columbia University Press, 2016. Dale, Gareth, et al. (ed.), Karl Polanyi's political and economic thought : a critical guide. Newcastle upon Tyne : Agenda Publishing, 2019. Dale, Gareth, Reconstructing Karl Polanyi : excavation and critique, London, England : Pluto Press, 2016. Desai, Radhika and Polanyi Levitt, Kari, Karl Polanyi and twenty-first-century capitalism. Manchester : Manchester University Press, 2021. Hann, Chris, Repatriating Karl Polanyi Market Society in the Visegrád States. Baltimore, Md. : Project…Citește mai mult

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Karl Polanyi Digital Archive The Karl Polanyi Institute of Political Economy – The Karl Polanyi Institute of Political Economy at Concordia University web site. Karl Polanyi Wiki Karl Polanyi, The Great Transformation: The Political and Economic Origins of Our Time (1944) Review Essay by Anne Mayhew, College of Arts and Sciences, University of Tennessee Profile on Karl Polanyi – On the History of Economic Thought Website The free market is an impossible utopia (2014-07-18), The Washington Post. A conversation with Fred Block and Margaret Somers on their book, The Power of Market Fundamentalism: Karl Polanyi’s Critique (Harvard University Press, 2014). The book argues that the ideas of Karl Polanyi are crucial to help understand economic recessions and their aftermath. [1] – Why Two Karls Are Better Than One: Integrating Polyani and Marx in a Critical Theory of the Current Crisis by Nancy Fraser Ferguson, Donna (23 June 2024). "'The greatest thinker you've never heard of': expert who explained Hitler's rise is finally in the spotlight". the Guardian. Retrieved 23 June 2024. Works by or about Karl Polanyi at the Internet Archive