Quotation Novy, Andreas. 2020. The political trilemma of contemporary social-ecological transformation – lessons from Karl Polanyi’s The Great Transformation. Globalizations. 1-22.


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Abstract

ABSTRACT This article advances Rodrik's political trilemma of the world economy by using insights from Polanyi?s The Great Transformation, which helps to grasp the interwoven dynamics of long-term transformations due to climate change and geopolitical reordering on one hand, and on the other short-term political ruptures due to countermovements. Rodrik's globalization trilemma shows the incompatibility of hyperglobalization with the need for an enlarged democratic policy space. Its nodes (globalization, nation state and democracy), however, have to be redefined to grasp contemporary dynamics of deglobalization. Based on a modified political trilemma of contemporary social-ecological transformation, I discuss and compare three visions and the resultant strategies: (1) Liberal globalism, focusing on hyperglobalization and individualism, (2) nationalistic capitalism, stressing national sovereignty and authoritarian governance, and (3) foundational economy based on planetary coexistence which combines selective economic deglobalization with a strengthening of a place-based foundational economy, and their respective social-ecological infrastructural configurations.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Globalizations
Citation Index SSCI
Language English
Title The political trilemma of contemporary social-ecological transformation – lessons from Karl Polanyi’s The Great Transformation
Year 2020
Page from 1
Page to 22
Reviewed? Y
URL https://www.tandfonline.com/doi/full/10.1080/14747731.2020.1850073
DOI https://doi.org/10.1080/14747731.2020.1850073
Open Access Y
Open Access Link https://doi.org/10.1080/14747731.2020.1850073

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People
Novy, Andreas (Details)
Organization
Institute for Multi-Level Governance and Development IN (Details)
Research Institute for Cooperation and Cooperatives FI (Details)
Research Institute for Spatial and Real Estate Economics FI (Details)
Competence Center for Sustainability Transformation and Responsibility WE (Details)
Research areas (ÖSTAT Classification 'Statistik Austria')
5325 Political economics (Details)
5340 Economic history (Details)
5368 Sustainable development, sustainable economics (Details)
5406 Foreign aid (Details)
5415 Economic sociology (Details)
5610 Urban development planning (Details)
5611 Urban and regional analysis (Details)
5618 Regional economy (Details)
5912 Social sciences (interdisciplinary) (Details)
5915 Economic geography (Details)
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