Embedded markets: A dialogue between F.A. Hayek and Karl Polanyi



The recent economic crisis has once more underscored the close connection between markets and social life, thrusting this point at the centre of the analysis of economic and political activity and has once more asked the question of whether and how individuals are embedded in both. Here I argue that an analysis and partial reconciliation of the positions of F.A. Hayek and Karl Polanyi on the topic can help in this debate.


Hayek Polanyi Embeddedness Markets 

JEL codes

B25 B52 


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Authors and Affiliations

  1. 1.Department of Political ScienceSimon Fraser UniversityBurnabyCanada

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