Heterodox Economists: Karl Polanyi

In this episode of "Ones and Tooze," Cameron Abadi and Adam Tooze continue their mini-series on Heterodox Economists, focusing on Karl Polanyi. They delve into Polanyi's biography, exploring how his experiences shaped his challenge to the idea of markets as natural and his argument that totalizing markets become self-undermining. They discuss Polanyi's key work, "The Great Transformation," and his later anthropological studies, examining how markets are embedded in communal social life through reciprocity, redistribution, and householding. The conversation also touches on the cyclical nature of market autonomy and re-embedding, suggesting a Polanyi-inspired framework for understanding contemporary economic crises.