• Home
  • Videos
  • Pics
  • Blog
  • Modules
  • About Us
  @TheSocyCinema

@thesocycinema / videos

Neoliberal Capitalism and Polanyi's Double-Movement

3/22/2014

0 Comments

 
PictureArgentinians protest economic policies of the IMF.
Tags: capitalism, economic sociology, globalization, political economy, social mvmts/social change/resistance, theory, argentina, deregulation, double-movement, embeddedness, karl polanyi, laissez-faire capitalism, neoliberalism, regulation, subtitles/CC, 00 to 05 mins
Year: 2004
Length: 5:30
Access: YouTube
(start 3:05; end 8:35)

Summary: In his famous book, The Great Transformation, Karl Polanyi argued that, throughout human history, economic decisions have always been embedded within society (i.e., they have been shaped and constrained by social values and relationships). However, with contemporary capitalism, the economy has become disembedded from society through laissez-faire capitalism, which is promoted by many liberal economists and capitalists, and meant to disregard social factors. While this system has created tremendous wealth, it is unable to regulate itself and is not a "natural" economic order, as its proponents claim. In actuality, if laissez-faire capitalism is left to itself, it creates so much social dislocation that it would destroy itself, and thus it inevitably sparks resistance to it. This resistance leads to movements to regulate capitalism to varying degrees, from reforms that put constraints on capitalism (e.g., the New Deal) to more radical changes to the capitalist structure (e.g., socializing the economy through a centralized state), thus re-embedding the economy within society. This excerpt from the documentary, The Take (start 3:05; end 8:35), illustrates this double-movement between efforts at regulation and de-regulation. With a focus on Argentina, it shows how systematic deregulation in the 1990s, and the problems it created, sparked massive resistance. The deregulation (which itself required state action) included selling off public assets, eliminating currency controls, and implementing a variety of business-friendly policies. Supported by the IMF, these neoliberal policies crashed the economy in 2001, resulting in massive unemployment and poverty rates exceeding 50%, which sparked spontaneous protests throughout the country. Like similar double-movements throughout the world, the resistance sought to re-regulate the economy, and re-embed the economy in society, to meet vital social needs. The rest of the documentary shows that, in this case, the social response included a movement of workers that occupied and began running factories on their own.

Submitted By: Paul Dean

0 Comments



Leave a Reply.

    Tags

    All
    00 To 05 Mins
    06 To 10 Mins
    11 To 20 Mins
    21 To 60 Mins
    61+ Mins
    Abortion/Reproduction
    Aging/Life Course
    Art/Music
    Biology
    Bodies
    Capitalism
    Children/Youth
    Class
    Commodification
    Community
    Consumption/Consumerism
    Corporations
    Crime/Law/Deviance
    Culture
    Demography/Population
    Disability
    Discourse/Language
    Du Bois
    Durkheim
    Economic Sociology
    Education
    Emotion/Desire
    Environment
    Food/Agriculture
    Foucault
    Gender
    Globalization
    Goffman
    Government/The State
    Health/Medicine
    Historical Sociology
    Immigration/Citizenship
    Inequality
    Intersectionality
    Knowledge
    Lgbtq
    Marketing/Brands
    Marriage/Family
    Marx/Marxism
    Media
    Methodology/Statistics
    Multiculturalism
    Nationalism
    Organizations/Occupations/Work
    Political Economy
    Politics/Election/Voting
    Prejudice/Discrimination
    Psychology/Social Psychology
    Race/Ethnicity
    Religion
    Rural/Urban
    Science/Technology
    Sex/Sexuality
    Social Construction
    Social Mvmts/Social Change/Resistance
    Sports
    Subtitles/CC
    Theory
    Violence
    War/Military
    Weber

    RSS Feed

    Tweets by @TheSocyCinema

    .

    Got any videos?

    Are you finding useful videos for your classes? Do you have good videos you use in your own classes? Please consider submitting your videos here and helping us build our database!

     

    Creative Commons License
​About Us      |      Facebook      |      Twitter      |      Pinterest      |      Tumblr
Creative Commons
  • Home
  • Videos
  • Pics
  • Blog
  • Modules
  • About Us