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Marketization: Theoretical Reflections Building on the Perspectives of Polanyi and Habermas

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  • Alexander Ebner

Abstract

The concept of marketization denotes the expansion of market coordination into non-market coordinated social domains as well as its intensification in already market-dominated settings. This article sets out to reconstruct an institutionalist theory of marketization. As a point of departure, it critically examines the related contributions of Karl Polanyi and J�rgen Habermas. The analytical strength of Polanyi's theory of marketization lies in the discussion of the contested embeddedness of markets and the view of marketization as a politically shaped process of institutional change. This concern with the societal expansion of markets is further developed in the Habermasian thesis of the 'colonisation of the lifeworld'. However, both Polanyi and Habermas lack a specification of the social substance of markets and thus tend to underestimate the complexity of marketization. To address this issue, the present article utilizes the concept of collective goods to introduce new arguments about the institutional dynamics of marketization in the diverse fields of society.

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  • Alexander Ebner, 2015. "Marketization: Theoretical Reflections Building on the Perspectives of Polanyi and Habermas," Review of Political Economy, Taylor & Francis Journals, vol. 27(3), pages 369-389, July.
    • Handle: RePEc:taf:revpoe:v:27:y:2015:i:3:p:369-389
    DOI: 10.1080/09538259.2015.1072315
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    References listed on IDEAS

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    1. Beckert, Jens, 2007. "The Great Transformation of Embeddedness: Karl Polanyi and the New Economic Sociology," MPIfG Discussion Paper 07/1, Max Planck Institute for the Study of Societies.
    2. Preda, Alex, 2009. "Information, Knowledge, and Economic Life: An Introduction to the Sociology of Markets," OUP Catalogue, Oxford University Press, number 9780199556953, Decembrie.
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    Cited by:

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    2. Reale, Filippo Gian-Antonio, 2017. "Liberalization, hysteresis, and labor relations in Western European commercial aviation," MPIfG Discussion Paper 17/16, Max Planck Institute for the Study of Societies.
    3. Markus Helfen & Jörg Sydow & Carsten Wirth, 2020. "Service Delivery Networks and Employment Relations at German Airports: Jeopardizing Industrial Peace on the Ground?," British Journal of Industrial Relations, London School of Economics, vol. 58(1), pages 168-198, March.

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