The Power of Ideas: Keynes, Hayek and Polanyi
This is the title of a lecture to be given at the National University of Mexico Faculty of Economics on February 4th, 2013 at 12pm. It is also the title of the introduction to volume 41, no. 4 (Winter 2012-2013) of the International Journal of Political Economy. The full text can be downloaded below.
Four articles by Karl Polanyi in English translation, Vienna 1922 to 1932
COPYRIGHT KARI POLANYI LEVITT
The Mechanism of the World Economic Crisis
From “Der Osterreichische Volkswirt”, 1933Mechanism of the World Crisis
The Functionalist Theory of Society and the Problem of Socialist Economic Calculability, 1922
(A Rejoinder to Professor L. von Mises and Dr. Feliz Weil)
Translated from German by Kari Polanyi Levitt
This article originally appeared in Archiv fur Sozialwissenschaft und Sozialpolitik, Vol. LII, 1924, pp. 21 8-227.3_KP Functionalist Theory of Societ
Some Reflections Concerning our Theory and Practice, 1925
A translation of “Neue Erwagungen zu unserer Theorie von Praxis” by Kari Polanyi Levitt. 1986.
Originally published in Der Kampf, (1925). Reprinted in Gerald Mozetic, ed., Austro-Marxistische Positionen, Wien: Bohlan-Verlag, 1983.4_KP Reflections concerning our theory and practice
Economy and Democracy, 1932
Translated from German by Kari Polanyi Levitt
This article originally appeared in the “Osterreichische Volkwirt”, December 1932.5_KP Economy and Democracy
New Translations of Karl Polanyi
Karl Polanyi’s most well-known book, The Great Transformation, has recently been translated for the first time into Norwegian under the title Den liberale utopi. The edition also includes an original preface by Professor Lars Mjøset of the University of Oslo.
JapaneseA collection of work by Karl Polanyi was recently published in Japanese as Market Society vs. Human Freedom: Essays of Karl Polanyi. The book includes a new preface by Kari Polanyi Levitt.
Karl Polanyi believed that the greatest threat to freedom was a poorly administered economy. His search for economic and political institutions which reconciled society’s need for freedom to develop a moral sense, with the requirements of our complex technological civilization, led him to believe a possibility and necessity of an economics that was more existential and human-centered. He did not underestimate the significance of livelihood to lives; he recognised that an inadequate quantity of the former was detrimental to the quality of the latter. He emphasized nonetheless that beyond sufficent livelihood, preoccupation with the pursuit of even more economic wealth greatly erodes the quality of human existence.
Although the principal concern of this book is in developing that thinking for its significance to the practice of economies and everyday life in democratic societies, it also treats the life of Polanyi from a perspective that conveys an impression of the man, his times, and his place in the evolution of social and economic thought.
“Economics has to return to some very basic questions of use value and exchange value. We have to take into account the real value of human effort and work, and that is very different from its market value. We have to protect nature and our social and cultural heritage. People do not like to be valued and respected only for the income which they can earn, and to be totally disrespected if they are not able to earn income for whatever reason.” From Development and Regionalism Karl Polanyi’s Ideas and the Contemporary World System by Professor Kari Levitt.
Hardcover ISBN: 0-21689-81-0
Karl Polanyi in Vienna: The Contemporary Significance of the Great Transformation
Edited by Kari Levitt and Kenneth McRobbie
Karl Polanyi’s belief that the greatest threat to freedom was a poorly administered economy led him to an economics that was more existential and human-centered. Part I of this book develops Polanyi’s thinking for its significance today through a selection of papers on re-reading his major work entitled The Great Transformation. Part II looks at the life and work of Ilona Duczynska (Polanyi’s wife), political activist, writer and translator and important influence over Karl and his work.
“It is because basic human needs of security, affection, respect and protection have no place in formal economics that the transformation of the capitalist order requires a new calculus of the value of work, the value of human needs, and the value of nature. When economic decisions have to be made, the underlying value system must be one that accords with the realities of real people living in real socieites, one that acknowledges our very real dependence on the natural environment and its very real limitations.” From Development and Regionalism, Karl Polanyi’s Ideas and the Contemporary World by Professor Kari Polanyi Levitt.