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- Title
Karl Polanyi and Return of the "Primitive" in Institutional Economics.
- Authors
Özveren, Eyüp
- Abstract
This article discusses a renewed interest in the work of scholar Karl Polanyi and the incorporation of his work into the body of institutional economics. This article discusses the notion of time in Polanyi's work and how it differs from the metaphor of time inherent in neoclassical economics. The author discusses the definition of the word "primitives" and its relationship to social policy, and how Polanyi deployed the actual state of primitives in order to replace the economistic cost-benefit analysis of the Industrial Revolution with a "social cost" alternative.
- Subjects
POLANYI, Karl, 1886-1964; INSTITUTIONAL economics; INDUSTRIAL revolution; SOCIAL policy; COST effectiveness; EXTERNALITIES; CORPORATE culture; INDUSTRIAL psychology; SOCIAL psychology
- Publication
Journal of Economic Issues (Association for Evolutionary Economics), 2007, Vol 41, Issue 3, p783
- ISSN
0021-3624
- Publication type
Article