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Regulationist and Autopoieticist Reflections on Polanyi�s Account of Market Economies and the Market Society.

Jessop, Bob (2001) Regulationist and Autopoieticist Reflections on Polanyi�s Account of Market Economies and the Market Society. New Political Economy, 6 (2). pp. 213-232. ISSN 1356-3467

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    Abstract

    This article re-interprets and develops Polanyi�s substantive institutionalist analysis of capitalist market economies and the market society in the light of two more recent approaches to the same issues. These are the Parisian �regulation school� on contemporary capitalism and systems-theoretica l accounts of the modern economy. All three regard the capitalist economy (or, for autopoietic systems theory, the market economy) as an operationally autonomous systemthat is nonetheless socially embedded and needful of complex forms of social regulation. For each, an adequate account of economic activities should explore how they are related to the wider social environment; how they are embedded in a wider nexus of social institutions ; how the latter assist in reproducing the capitalist (or market) economy; and how their development is coupled to that of these and other environing institutions . There are also some important differences among these approaches, however, which enable an exploration of their respective limitations and also provide useful bases for further theoretical and empirical research. Thus, after presenting these three perspectives on the institutedness and embeddedness of economies. I consider some basic problems in analysing the improbable stability and reproducibility of the capitalist economy, paying particular attention to governance and meta governance.

    Item Type: Article
    Journal or Publication Title: New Political Economy
    Additional Information: The final, definitive version of this article has been published in the Journal, New Political Economy, 6 (2), 2001, © Informa Plc
    Uncontrolled Keywords: Polanyi�s Account of Market Economies ; Regulationist and Autopoieticist Reflections
    Subjects: H Social Sciences > HM Sociology
    Departments: Faculty of Arts & Social Sciences > Sociology
    Faculty of Arts & Social Sciences
    ID Code: 170
    Deposited By: Professor Bob Jessop
    Deposited On: 07 Jun 2006
    Refereed?: Yes
    Published?: Published
    Last Modified: 26 Jul 2012 15:17
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/170

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