PC: How can you relate Polanyi’s ‘fictitious commodities’ to the crisis dynamics in capitalist economies? Need an outline first I send you textbook, you should related to page 71-81 Choose one of the

Outline

How can you relate Polanyi’s ‘fictitious commodities’ to the crisis dynamics in capitalist economies?

I. Introduction

1. Background - the great transformations presents an account of a crisis that connected political economy, social production and ecology.

2. Polanyi’s perspective – the previous economic crisis was triggered by efforts to disencumber from a national and international governance regimes.

Thesis: The consequences of dis-embedded commodity chains in capitalist economies have adverse impacts for the environment, and for society at large.

Body

II. commodification

1. Industrial capitalism influence on the relation between economy and society

2. Commodification of labor, land and money

III. Domination and emancipation

1. Commodity is a good or service produced for sale

2. Contradictions of capitalism- the ecological, the financial and the social contradictions

IV. Fictitious commodification in the 21st century

1. Commodification of labor- threatens the affective dispositions and value horizons that underpin the economy and society while jeopardizing the supply of labor power that capital requires

2. Commodification of nature – uncontrolled commodification of nature is unsuitable bound to impar the economy and society. Nature is inherently a node of crisis that is bound to prove a resistance leading to movements aimed at protecting nature and human habitats from market ravages.

3. Commodification of money – securitization has unleashed vast insecurities that nearly crashed the world economy, bringing down governments, destroying jobs and devastating communities. Money has become a commodity that is capable if influencing social and economic dynamics where there is a higher probability of it leading to adverse outcomes.

V. Conclusion

1. Develop a comprehensive framework that connects the concerns of political economists and ecologists

2. The three strands of capitalist crisis are inextricably interwoven, as are the three corresponding processes of fictitious commodification.

VI. References

Polanyi, K. (2001). The great transformation: The political and economic origins of our time. Boston: Beacon Press.