Polanyi and Schumpeter

Transitional processes via societal spheres

Dados Bibliográficos

ID21604698
AutoresTheresa Hager (0000-0002-9092-9336, Johannes Kepler University of Linz, autor correspondente), Ines Heck (0000-0001-7940-4064, Johannes Kepler University of Linz, autor correspondente), Johanna Rath (0000-0002-2568-685X, Johannes Kepler University of Linz, autor correspondente)
Ano2022
Volume29
Fascículo6
Páginas1089-1110
Data de publicação2022-11-02
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoEuropean Journal of the History of Economic Thought (JOURNAL)
Identificadores do periódicoISSN: 0967-2567 • E-ISSN: 1469-5936
EditoraInforma UK Limited (PUBLISHER • GB)
DOI10.1080/09672567.2022.2131865
OpenAlexW4304892065
IdiomaEN
Referências citadas23

We examine parallels and differences, intersections and complementarities in the notions of societal transition by Karl Polanyi and Joseph A. Schumpeter. Considering their intellectual heritage, methodology and scope, we propose a three-sphere framework to analyse their theories and study the interdependencies within capitalism. The three spheres essential to both thinkers are the political, the socio-cultural and the economic: the latter dominates the others in capitalist societies. The resulting rationalisation (Schumpeter) and commodification (Polanyi) distort the socio-cultural sphere and transcend towards the political sphere which undermines democracy. Applying our framework, we identify similar transitional mechanisms but derive different implications for society

Capitalism · Commodification · Democracy · Economic system · Economics · Economy · Neoclassical economics · Parallels · Political economy · Political science · Politics · Positive economics · Sociology · Economic Theory and Institutions · Elite Sociology and Global Capitalism · Law · Political Economy and Marxism