ECONOMIC CRISIS AND POLANYI'S DOUBLE MOVEMENT


ÜŞENMEZ Ö. , Duman L.

CBU International Conference on Innovations in Science and Education (CBUIC), Prague, Czech Republic, 23 - 25 March 2016, pp.79-87 identifier

  • Publication Type: Conference Paper / Full Text
  • Doi Number: 10.12955/cbup.v4.746
  • City: Prague
  • Country: Czech Republic
  • Page Numbers: pp.79-87

Abstract

As experts discuss the causes and results of the 2008 financial crisis and ensuing Great Recession, economists of various strands, led mainly by Keynesians, are slowly beginning to question the supposed wisdom of unfettered markets. Since Keynesian-liberal disputes revolve around the symptoms of the crisis, rather than the historical and structural features of market economies, we consider a fresh approach about Polanyi's ideas on market, and his concept of double movement in regards to the effects of neo-liberalism on societies, as a timely intervention to these debates.