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Feb 8, 2022 · First, depicting the double movement as a process of dis-embedding and re-embedding understates the significance of the disembedded economy and the challenges of resolving the double movement within capitalism.
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historical evolution of capitalism and the current...
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- Market-Liberal Capitalism
- Organized and Embedded Capitalism
- Neoliberal Capitalism
Coined by the prevailing market principles in the relationship between different companies, this type was dominant in Europe and North America throughout much of the nineteenth century. State institutions in this context largely refrained from interfering in markets (including labor markets), and economic and social policy (Berend and Schubert 2007...
Within the context of technological and organizational innovations, capitalism developed internal needs for coordination and regulation. Moreover, a barely regulated form of capitalism resulted in increasing social tensions. Together, these two factors were the driving force behind a more organized form of capitalism. This became visible on several...
Since the late 1970s, “neoliberal” critique has gained traction, sometimes in sharp contrast to Keynesian welfare state capitalism. It stressed market mechanisms, the principle of capitalist self-regulation and the limits of state regulation (Harvey 2007). John Maynard Keynes’s concept of managing capitalism through the demand side and Karl Polanyi...
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2014
May 24, 2016 · Capitalism becomes disembedded from society and follows its own logic. Marx and, in a somewhat less definitive manner, Polanyi identified the development of the means of production as the driving historical force behind the formation of a corresponding political superstructure.
- Wolfgang Merkel
- wolfgang.merkel@wzb.eu
- 2016
Jul 10, 2021 · Global capitalism seems to be placing democracy, especially liberal democracy, under considerable stress. Support for populism has surged, especially for extreme right parties with populist and authoritarian programs.
How are we to understand the relationship between capitalism and democracy? This issue is on the public agenda again. “Is Capitalism a Threat to Democracy?” asks an article in The New Yorker. “Are Capitalism and Democracy Compatible?” asks the Huffington Post.
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In the following section, we explain how disembeddedness results in the relegation of democracy and the public interest to the "noneconomic" sphere of social life. We then turn from the disembedded economy to a discussion of an embedded economy.
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Sep 11, 2019 · Is contemporary capitalism compatible with liberal democracy? The glib answer, though not wrong, is that it had better be. There are no known examples of fully socialized economies with a liberal...
