The embedded market and ideology critique

Research output: Contribution to journalArticleResearchpeer-review

Abstract

When the Global Financial Crisis hit, major political economists were able to boast that they had long warned that "crazy times" were coming. By contrast, leading sociologists seem to have been wrong footed. Totalizing narratives of a new "risk society", "second modernity" and the like appeared to have sacrificed the grounds for weighing up the costs and damages of contemporary capitalism. Made famous by Karl Polanyi, the concept of the embedded market suggests a differentiated diagnosis of our times that should allow sociology to re-enter the discussion as a critic of an ideological attempt to block public discussions about losses and damages of contemporary capitalism. The following paper will explore several readings of this concept and will evaluate their capacity to revive sociology's critical powers.

LanguageEnglish
Pages302-322
Number of pages21
JournalCritical Horizons
Volume12
Issue number3
DOIs
Publication statusPublished - 2011

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ideology critique
capitalist society
damages
sociology
risk society
market
sociologist
financial crisis
economist
modernity
critic
narrative
costs
time
Ideology Critique
Sociology
Damage
Capitalism

Keywords

  • Boltanski and Chiapello
  • embedded markets
  • neo-liberalism
  • Polanyi

Cite this

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The embedded market and ideology critique. / Johnson, Pauline.

In: Critical Horizons, Vol. 12, No. 3, 2011, p. 302-322.

Research output: Contribution to journalArticleResearchpeer-review

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