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Money and markets : limits of mainstream critique

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  • Jérôme Maucourant

    (TRIANGLE - Triangle : action, discours, pensée politique et économique - ENS de Lyon - École normale supérieure de Lyon - UL2 - Université Lumière - Lyon 2 - IEP Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université de Lyon - UJM - Université Jean Monnet - Saint-Étienne - CNRS - Centre National de la Recherche Scientifique, UJM - Université Jean Monnet - Saint-Étienne)

Abstract

A key argument of Karl Polanyi's work is that market society needs policies to emerge, develop and survive, money being an essential institution in this process. But, fictituously transforming that which was not made to be sold into commodities, such as man, money or nature, entails unexpected effects, as State interventions. This total subversion of the liberal view enables new perspectives for understanding the crisis of 2008 and the continuing crisis of the Eurozone. Furthermore, it could highlight the usual critiques of many leftwing thinkers. Actually, they were blinded by the apparent success of globalisation during the 1990's and the cosmopolitical rhetoric of neoliberalism. The case of European Union and Euro is interesting because these social machines are labs of neoliberalism. A time is coming when the consent of free trade and a single currency-which unites many neoliberals, far leftists, "socialists" and some trade union leaders-must come to an end.

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  • Jérôme Maucourant, 2020. "Money and markets : limits of mainstream critique," Post-Print halshs-03104773, HAL.
    • Handle: RePEc:hal:journl:halshs-03104773
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03104773
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    References listed on IDEAS

    as
    1. Jérôme Maucourant & Michael Rafferty & Bruno Tinel, 2017. "Nations and capitalism: a socio-historical perspective," Post-Print halshs-01599310, HAL.
    2. Jérôme Maucourant, 2011. "Avez-vous lu Polanyi ?," Post-Print halshs-00638014, HAL.
    3. Jerome Maucourant & Michael Rafferty & Bruno Tinel, 2017. "Nations And Capitalism: A Socio-Historical Perspective," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 405-421, September.
    4. Jérôme Maucourant, 2010. "Le capitalisme entre rationalité et politique, Orient et Occident," Post-Print halshs-00467906, HAL.
    5. North,Douglass C. & Wallis,John Joseph & Weingast,Barry R., 2013. "Violence and Social Orders," Cambridge Books, Cambridge University Press, number 9781107646995.
    6. Jérôme Maucourant, 2005. "Avez-vous lu Polanyi ?," Post-Print halshs-00174940, HAL.
    7. Jérôme Maucourant & Michael Rafferty & Bruno Tinel, 2017. "Nations and capitalism: a socio-historical perspective," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01599310, HAL.
    8. Karl Polanyi & Michele Cangiani & Jérôme Maucourant, 2008. "Essais / Karl Polanyi," Post-Print halshs-00357896, HAL.
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    Keywords

    markets; mainstream Critique; Euro; money order; Polanyi; fictitious commodity; globalism; Institutional analysis;
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