Studies in National and International Development


National and International Development

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From the Great Transformation to the Great Financialization: A Polanyian Perspective on Neoliberalis

Kari Polanyi Levitt

Professor Emerita, McGill University


**NEW VENUE:  1pm-2:30pm, Mackintosh-Corry Hall, Room B201

With reference to Polanyi’s approach of the economy as an instituted process, and land, labour and money as fictitious commodities, we compare the collapse of the nineteenth century liberal economic order in the Great Depression, which gave rise to the Great Transformation and the Thirty Golden Years (1945-1975), with the neoliberal attempt to recreate the self-regulating market on a global scale.

The Great Financialization has created a social, political and ecological triple crisis, more intractable than that of the 1930s because governments are now captive to financial markets, and the West is in decline in relation to the Rest of the world

About the Speaker: Kari Polanyi Levitt is Emerita Professor at McGill University, specializing in Political Economy and Economics of Development. She holds an honorary doctorate from the University of the West Indies; is honorary president of the Karl Polanyi Institute of Political Economy at Concordia University; a recipient of the J. K. Galbraith Prize from the Progressive Economics Forum of Canada and a recipient of the Order of Canada. Among her publications are Life and Work of Karl Polanyi; co-edited with McRobbie, Karl Polanyi in Vienna, Reclaiming Development: Independent Thought and Caribbean Community; Essays on the Theory of Plantation Economy: A Historical and Institutional Approach to Caribbean Economic Development, co-authored with Lloyd Best; and From the Great Transformation to the Great Financialization: on Karl Polanyi and Other Essays.