Re:Is capitalism a threat to democracy?
by neuralk on Friday May 11, 2018 @11:55AM
(#17048321)
An article with a title like this, people are only responding to the question (which is rhetorical anyway). The OP submission has only been up 1 hour at the time of this comment and the vast majority of the 100+ comments here are addressing only the title question or reactions to it. None mention Polanyi and few discuss the author's most salient points at the end of the article.
[ Parent
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Polanyi as a thinker isn't frankly particularly imaginative or interesting: for someone who read British economic history, it appears he missed Adam Smith's Moral Sentiments, political liberalism, and the rise of a parliamentary labour movement in England (as opposed to a revolutionary party).
If Polanyi had considered the above he wouldn't have come to the conclusion that the two possibilities are either socialism or fascism.
The prescriptions - social welfare, etc - at the end of the article are known. The question is why they haven't been implemented in the US (they have in most other Western counties to various degrees).
I address other points in another comment below.