Revisiting Free Market Utopia: A Hayek-Polanyi Reminder

Özgür Üþenmez () and Levent Duman
Additional contact information
Levent Duman: Marmara University, Turkey.

Journal of Economic and Social Thought, 2016, vol. 3, issue 1, 101-115

Abstract: As pundits discuss the causes and results of the 2008 financial crisis and ensuing Great Recession, economists of various strands—led mainly by Keynesians—are slowly beginning to question the supposed wisdom of unfettered markets. Since Keynesian-liberal disputes revolve around the symptoms of the crisis rather than the historical and structural features of market economies, we thought that a Hayek-Polanyi comparison would be a timely intervention in order to understand the real nature of the subject. This comparison may also pave the way for the creation of an alternative to the vagaries of unfettered markets.

Keywords: Polanyi; Hayek; Markets; Capital; State intervention. (search for similar items in EconPapers)
JEL-codes: A12 A13 B13 B15 (search for similar items in EconPapers)
Date: 2016
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.kspjournals.org/index.php/JEST/article/download/581/771 (application/pdf)
http://www.kspjournals.org/index.php/JEST/article/view/581 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ksp:journ3:v:3:y:2016:i:1:p:101-115

Access Statistics for this article

Journal of Economic and Social Thought is currently edited by Bilal KARGI

More articles in Journal of Economic and Social Thought from KSP Journals Istanbul, Turkey.
Bibliographic data for series maintained by Bilal KARGI ( this e-mail address is bad, please contact ).