“One very fruitful area for Polanyi-inspired research today is a re-examination of concerns such as the global financial crisis and the Eurozone crisis. There’s quite a compelling Polanyian reading of why and how the financial crisis happened in terms of the sub-prime crisis, the slicing up of bad mortgage liabilities and then selling them on as assets to unsuspecting investors. This looks to me like a concrete example of the dis-embedding of market relations from their social context, which underpins everything Karl Polanyi says is wrong with free market capitalism.
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