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Relaxing the Shackles: The Invisible Pendulum.

Abstract:

This note draws on Polanyi's pendulum in economic policies presented in the the Great Transformation - with swings back and forth between strong restrictions on the market and market domination, each resulting from excesses of the dominant model. The swing he described, when he wrote, was a reaction to the consequences of market domination, notably the Great Depression, and ushered in Keynesianism and the welfare state. In the late twentieth century, there was a swing back towards the market ...

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Publisher copy:
10.1002/jid.1613

Authors


Frances Stewart More by this author
Journal:
Journal of International Development
Volume:
21
Issue:
6
Publication date:
2009
DOI:
URN:
uuid:adf0f836-ef07-4c5b-952f-b4e1eaad91bf
Local pid:
oai:economics.ouls.ox.ac.uk:14620
Language:
English

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