Crisis of Capitalism, Crisis of Governance: Re-reading Karl Polanyi in the 21st Century

Prof Nancy Fraser, Henry A. and Louise Loeb Professor of Political and Social Science and Department Chair at the New School for Social Research in New York, delivers her keynote speech titled 'Crisis of Capitalism, Crisis of Governance: Re-reading of Karl Polanyi in the 21st Century' at the University of Warwick's Critical Governance conference.
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[@teadubs7046]

best summary I will remember always =] "emancipation has joined forces with marketization to double team social protection"

[@gerardootero]

I liked Nancy Fraser's discussion and her elaborations of Karl Polanyi's The Great Transformation. Yet, it should be noted that Polanyi does allow in his concept of "double movement" for the protective movement to come either from the top down, e.g., the state; or from the bottom up, e.g. labour unions, social movements or socialist parties. Fraser therefore sounds unfair when she repeatedly states that Polanyi "failed" to do this or that, i.e., discuss HER emancipation agenda in the specific terms that she defines it. She could just have acknowledged that Polanyi did provided us with a great framework about the dynamics involved in trying to impose the market as a self-regulating mechanism, and society's protective response; and then say that some elaborations are needed. In her attempt to sound original, she sounded unfair instead. I do not quite like her term of "triple movement" because it presumes that Polanyi did not allow for the emergence of emancipatory movements from the bottom up, from the exploited and dominated classes, groups and communities. He did. Nevertheless, Nancy Fraser offers some very interesting venues toward elaboration of Palnayi's framework.

[@MumtazShah786]

Very comprehensive lecture.

[@apollyon144]

Thanks for answering. I think Fraser actually suggests that our regulations reflect the interests of the dominant elements of society, not that we are unregulated. Where you and Fraser would differ is probably in the policy approach to addressing the problems identified, but I think there is a lot for you to appreciate in her critique.

[@xXzaydoggXx]

Thank you for being the only one talking about this guy IN ENGLISH.

[@36cmbr]

good talk

[@Catchcamatian]

Anyone who could help: do you know where i could find a transcript of this lecture?

[@dreamweaver9165]

Click the button "other" (the third from left to right) and you will get the transcript.

[@debralegorreta1375]

I don't think Polany meant the term "protection" as Professor Fraser ascribes to him. Gender inequities and cast systems are not protections of the kind Polyani writes about. An embedded market under such regimes is not truly embedded any more than slavery and fascism would be.

[@drinkteaeveryday]

Great upload thanks!

[@allenemersonn1227]

Unfettered emancipation against domination kills competition and merit, and destroys the concept of 'market', the very basis of capitalism. Be careful what you ask for.

[@apollyon144]

What did you see in here that contradicts your ideas on libertariansim? A libertarian critique using this video would suggest that free markets could provide solutions to state oppression. Very compatible with Ayn Rand, if you wanted to argue it that way. Also, no one said anything specifically about the US being a free market in this video.

[@kRudAres]

What I don't think you understand is why "free market" theory, "free market" capitalism or classical liberalism was not possible. Polanyi touches on why the "free market" theory couldn't, in reality, create a functioning global industrial capitalist system. Micheal Perelman's book "The Invention Of Capitalism" further exposes why the state/state intervention was/is necessary for capitalism to function.

[@HuseyinOzel_therealone]

Seems that she misses the essence of Polanyi's position completely. Rather than trying to understand what his "message" is, she creates some kind of "strawman" and attacks that strawman.

[@Marcos-kn1kz]

O Estado sempre salva o capitalismo.

[@kRudAres]

"Capitalism is rendered impossible by the state". Quite the opposite- you've never even read Polanyi nor do you even understand the basic point of his book "The Great Transformation". The industrial property based market system could have never arisen without coercion via the state nor can it be maintained without state intervention which is exactly why classical liberals had to turn against free market ideology. Read "The Invention Of Capitalism" and get back to me. Or start with Polanyi.

[@MarcAbela]

Hello kRudAres, Capitalism - the idea that "capital" (human and/or goods) are free and move between people without the "coercive" hand of a forceful taxing-ruler - is a concept we still have to experience one day. People coerced into doing good (study! sit! eat! marry her! etc) when very young - often grow up as adults loaded with this belief that if there isn't a strong coercive statist intervention forcing them into good, that good cannot happen. Capitalism is rendered impossible by the state.

[@MarcAbela]

Hello Anastasi, Thank you for your comment. I find Prof Fraser's presentation & lecture insulting and dishonest (at best). I made a full video where I address your question "what do I see that contradicts the ideas of libertarianism" - for the answer is "everything". From the very first letter of the title of the lecture all the way to the last second of the lecture. The idea that we "lack" regulations today is totally obscene and intellectually very disturbing. watch?v=YgPU8qZnRZM

[@oracleofottawa]

Me thinks the poor woman has totally missed the point and would perhaps greatly profit from reading the text, again, of course....

[@debralegorreta1375]

What ever would we do with our your oracular powers? ... such piercing and insightful commentary get that the heart of the matter in seconds. We bow to you, oh great one, oracleofottawa.

[@moribundmurdoch]

Lots of fancy language. I comment this as a lexicographer. This was an interesting listen though.

[@amenostalgique]

Why is this woman reading a text at university ? what a waste of money that degree

[@debralegorreta1375]

Because that text has always been ignored by the likes of you and as result the world is a mess. what a wast of spirit.

[@HuseyinOzel_therealone]

Seems that she misses the essence of Polanyi's position completely. Rather than trying to understand what his "message" is, she creates some kind of "strawman" and attacks that strawman.

[@debralegorreta1375]

OMG, someone has a different way to read Polanyi. The horror. Only the interpretation of the great Huyesin Ozei is to be allowed. Surely something has to be done.