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Economy and Society: Money, Capitalism and Transition

Money, Capitalism and Transition

The end of the twentieth century brought with it uncertainties about the future in all parts of the world, but out of these experiences comes rich material for reflection on possible future directions of development. This volume represents a tribute to the legacy of Karl Polanyi, in that his work provides the framework and the method of analysis around which work and action can be organized and stimulated. In resistance to the prevailing "seductive" market, and as part of the process of creating, organizing and stimulating an alternative to it, this volume of essays reinterprets the history of economic thought and re-examines monetary theory in general. The authors challenge the idea that money is primarily a "medium of exchange" that developed as a response to the inconvenience of barter. They argue that historically money predates (market) exchange and should be seen fundamentally as a means of payment in discharge of a social obligation.

524 pages | 6 x 9

Critical Perspectives on Historic Issues

Economics and Business:


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Table of Contents

Table of Contents/Notes on Contributors/Introduction ~1. Introduction, by Fikret Adaman and Pat Devine ~2. New Paradigms for the Third Millennium, by Surendra Patel/ FOUNDATIONS ~3. Human Computability and the Institutions of Exchange: Polanyi’s Models, by James Stodder ~4. Co-evolving Social Institutions: An Example of Status and Markets, by Jeffrey Carpenter ~5. "Unthinking" Eighteenth Century Economics: The Social Construction of Insight and Error in the "Core States," by Roger Krohn ~6. Money without Exchange: Theoretical Reconsiderations, by Jean-Yves Moisseron ~7. Polanyi on Institutions and Money: An Interpretation Suggested by a Reading of Commons, Mitchell and Veblen, by Jérôme Maucourant ~8. Reciprocity, Redistribution and Market Exchange in the Informal Economy, by Larissa Lomnitz ~9. The Social Embeddedness of the Economy and Its Implications for Economic Governance, by Bob Jessop / POLITICAL ECONOMY AND CAPITALISM ~10. International Accumulation and Global Deregulation: A Study of International Accumulation and Its Emerging Mode of Regulation, by Behzad Yaghmaian ~11. The "Geo-Governance" and "Embeddedness" of Cross-Border Regional Modes of Growth: Some Theoretical Issues and the Case of "Greater China," by Ngai-Ling Sum ~12. Hiring People and Cultures: The Commodification of Migration Processes, by Hélène Pellerin/ POLITICAL ECONOMY AND TRANSITION ~13. Income Inequalities in the Transition: Poland in Comparative Perspective, by Tadeusz Kowalik ~14. Hungary and the European Union: Euphoria and Obstacles in the 1990s, by László Andor /POSSIBLE FUTURES ~15. Young Marx’s "Paris Writings" and Polanyi: Beyond the State and the Market, by Gibin Hong ~16. Political and Moral Implications of Reciprocity Networks in Modern Societies, by Ayþe Buðra ~17. The Restitution of Economics in Political Culture: Toward an Integral Consideration of Capital, by Patrice Meyer-Bisch ~18. Participation in Decision Making at the Firm Level: Employees’ Attitudes in the Textile Industry in Turkey, by Fikret Adaman, Sina Mandalinci and Yahya Madra ~19. The Institutional Context of Entrepreneurial Activity, by Pat Devine

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