WEBVTT Kind: captions; language: en-us NOTE Treffsikkerhet: 89% (HØY) 00:00:01.200 --> 00:00:08.900 well hello everyone we are back in this third week in economic anthropology and we're going 00:00:08.900 --> 00:00:20.700 to talk primarily about Karl Polanyi and his book which you're reading three chapters this week, his 00:00:20.700 --> 00:00:28.600 book the Great Transformation and we're continuing this discussion about markets and the moral 00:00:28.600 --> 00:00:29.950 foundations of markets. NOTE Treffsikkerhet: 80% (HØY) 00:00:29.950 --> 00:00:38.850 This is a key question for us this week as it will be in the remainder of this course, so I hope 00:00:38.850 --> 00:00:48.000 that now at week three you're starting to get a little bit of a sense of an overview of the debates 00:00:48.000 --> 00:00:57.300 and the topics that anthropologists have been dealing with when they are writing about economic life NOTE Treffsikkerhet: 86% (HØY) 00:00:57.300 --> 00:01:05.000 if you've done some of the readings and I hope you have done more than just some of the 00:01:05.000 --> 00:01:15.600 readings gotten the chance to create some comparisons in the syllabus to make a little bit of sense 00:01:15.600 --> 00:01:25.700 of what's going on and I thought I'd start by helping you out to do some more of that 00:01:25.700 --> 00:01:27.650 to make a bit of meaning in the NOTE Treffsikkerhet: 84% (HØY) 00:01:27.650 --> 00:01:35.400 Syllabus in what you're reading, and of course you can divide the syllabus we're reading into an 00:01:35.400 --> 00:01:45.800 obvious distinction that the more theoretically focused text and the more empirically focused and 00:01:45.800 --> 00:01:55.400 perhaps ethnographic anthropological data that we're presented with. Actual people doing 00:01:55.400 --> 00:01:57.700 Actual things NOTE Treffsikkerhet: 89% (HØY) 00:01:57.700 --> 00:02:07.300 in specific settings in specific contexts, and I don't know how you would organise the 00:02:07.300 --> 00:02:13.650 syllabus according to this along this axis but I would perhaps place NOTE Treffsikkerhet: 89% (HØY) 00:02:13.650 --> 00:02:23.800 Marcel Mauss, Friedman and perhaps Polanyi from today up here in the more theoretical end of the 00:02:23.800 --> 00:02:33.800 scale. Malinowski, Karen Ho I guess the two most empirical text we've been waiting until now at 00:02:33.800 --> 00:02:43.700 least. Another axis that you can use to organise the syllabus readings is NOTE Treffsikkerhet: 87% (HØY) 00:02:43.700 --> 00:02:53.800 on the one hand the text that start from the individual as a basis to create their models and 00:02:53.800 --> 00:03:01.200 explanations for for economic life and this we could call the neoclassical economic 00:03:01.200 --> 00:03:02.700 approach, NOTE Treffsikkerhet: 91% (HØY) 00:03:02.700 --> 00:03:13.100 and on the other hand on the other extreme those texts that start with the collective, the social, the 00:03:13.100 --> 00:03:23.500 social structures, the social meanings, social expectations as the foundations 00:03:23.500 --> 00:03:30.700 for their thinking an explanation of economic life and we could call this NOTE Treffsikkerhet: 67% (MEDIUM) 00:03:30.900 --> 00:03:38.000 texts and authors political anthropologists who work in the political economic NOTE Treffsikkerhet: 91% (HØY) 00:03:38.000 --> 00:03:40.500 tradition NOTE Treffsikkerhet: 79% (HØY) 00:03:43.500 --> 00:03:50.000 and I'd be interested in knowing who you place here as we go along in the syllabus, I 00:03:50.000 --> 00:03:57.450 mean obviously Friedman and Friedman's text is what we put forward as an example of neoclassical economic 00:03:57.450 --> 00:04:06.250 thinking but there are perhaps others on the syllabus 00:04:06.250 --> 00:04:11.149 so this is just one or two ways of dividing up the NOTE Treffsikkerhet: 90% (HØY) 00:04:11.149 --> 00:04:17.100 Syllabus and I thought I'd introduce you to a third before we get on with discussing Polanyi 00:04:17.100 --> 00:04:24.100 just to try to help you make connections, this is what we're trying to get you to do in this 00:04:24.100 --> 00:04:32.600 course to make connections between the different texts and produce your own ideas and produce 00:04:32.600 --> 00:04:40.800 your own lines thinking based on your understanding of what you're reading and NOTE Treffsikkerhet: 78% (HØY) 00:04:40.900 --> 00:04:48.400 another way of dividing up the syllabus then is to start by asking what are the key concepts 00:04:48.400 --> 00:04:55.500 so far in this course, what are the key concepts we've been presented with and how did the authors 00:04:55.500 --> 00:05:03.900 relate differently to these concepts and perhaps I'd encourage you then to press pause right now 00:05:03.900 --> 00:05:08.550 and write down what you think are the key concepts right now NOTE Treffsikkerhet: 88% (HØY) 00:05:08.550 --> 00:05:15.900 that we've been discussing so far in this course, or you can press pause and say them out loud or 00:05:15.900 --> 00:05:18.600 say them in your head. NOTE Treffsikkerhet: 91% (HØY) 00:05:19.100 --> 00:05:32.950 Have you done that now? I think from the first week we have the most obvious three concepts to me 00:05:32.950 --> 00:05:43.300 our freedom, market and neoliberalism. Freedom comes directly in these two texts which have a very 00:05:43.300 --> 00:05:48.100 different perspective on what constitutes freedom and the relationship between markets and freedom 00:05:48.100 --> 00:05:50.600 and neoliberalism NOTE Treffsikkerhet: 80% (HØY) 00:05:51.400 --> 00:06:04.400 so you could then keep adding concepts and keep adding authors to this list in order to start to 00:06:04.400 --> 00:06:14.550 to mix and match so this is just week 1 let's move to week 2 we have Kula exchange and gifts come 00:06:14.550 --> 00:06:21.950 heavily into the discussion by way of my Malinowski, Weiner and Mauss NOTE Treffsikkerhet: 91% (HØY) 00:06:21.950 --> 00:06:30.600 and then you can start to draw some comparisons what does the freedom and the voluntary exchange 00:06:30.600 --> 00:06:35.450 that Milton and Rose Friedman writes about NOTE Treffsikkerhet: 89% (HØY) 00:06:35.450 --> 00:06:45.000 how does that compare with the gifts and the three obligations mark that 00:06:45.000 --> 00:06:52.049 word obligations of gifts which Mauss writes about NOTE Treffsikkerhet: 91% (HØY) 00:06:52.049 --> 00:06:55.750 drawing on material from Malinowski NOTE Treffsikkerhet: 91% (HØY) 00:06:55.750 --> 00:07:05.700 and so on, so this is a way to start making connections and drawing some lines crisscrossing the 00:07:05.700 --> 00:07:07.400 syllabus. NOTE Treffsikkerhet: 88% (HØY) 00:07:09.700 --> 00:07:13.850 Of course the obvious thing to say NOTE Treffsikkerhet: 74% (MEDIUM) 00:07:13.850 --> 00:07:20.100 you should all know this, is that you'll get little of these concepts you understand little of what 00:07:20.100 --> 00:07:26.800 they actually mean and what they can be used to explain without actually reading the text 00:07:26.800 --> 00:07:33.900 it's not enough to listen to these lectures it's not even enough to go to the seminars with 00:07:33.900 --> 00:07:41.800 Your seminar leader you actually have to read the text and make up your own mind. NOTE Treffsikkerhet: 89% (HØY) 00:07:42.600 --> 00:07:53.400 Today we're reading three chapters of Polanyis famous book the Great Transformation, and 00:07:53.400 --> 00:08:01.100 When you go to these core texts these are you know 60-70 years old, and they might be difficult 00:08:01.100 --> 00:08:11.500 to understand, they might be challenging but don't stress okay if you're bored that's okay NOTE Treffsikkerhet: 86% (HØY) 00:08:12.100 --> 00:08:19.300 if you find it difficult that's okay remember that you're studying at perhaps the best university in 00:08:19.300 --> 00:08:30.000 Norway and it's supposed to be difficult it is hard okay so don't whatever you do don't stop, don't 00:08:30.000 --> 00:08:36.700 Go do something else, don't let it go just because it's difficult or it's boring it might be 00:08:36.700 --> 00:08:41.400 both those things, but if you if you try to make down NOTE Treffsikkerhet: 85% (HØY) 00:08:41.400 --> 00:08:49.000 some kind of sense makes some kind of sense out of what you're reading, and to draw some kind of an 00:08:49.000 --> 00:08:55.800 idea you know you're not supposed to understand everything, but you're supposed to draw out some 00:08:55.800 --> 00:09:06.000 ideas some new perspective that spoke to you then you are doing well, you'll 00:09:06.000 --> 00:09:11.700 learn a bit more and you'll progress and things will make more and more sense. NOTE Treffsikkerhet: 85% (HØY) 00:09:11.700 --> 00:09:28.000 Today we are going to talk primarily about the work of Karl Polanyi and we're going to 00:09:28.000 --> 00:09:37.000 add some more concepts to this list, concepts that everyone on the syllabus can be 00:09:37.000 --> 00:09:41.300 drawn into to discuss, however we're going to talk about NOTE Treffsikkerhet: 81% (HØY) 00:09:41.300 --> 00:09:49.550 economic dis-embeddedness and embeddedness and a few other concepts that we'll get to. So 00:09:49.550 --> 00:10:02.100 who is Karl Polanyi he is an Austrian and Hungarian economic historian, and he is one of those on the 00:10:02.100 --> 00:10:11.349 syllabus like Marcel Mauss who we read last week who was deeply inspired by anthropologists NOTE Treffsikkerhet: 84% (HØY) 00:10:11.349 --> 00:10:17.600 so he read the work of anthropologists he's an economic historian who read the work of 00:10:17.600 --> 00:10:30.400 anthropologist and then came up with ideas and theories and wrote books that in turn went on to 00:10:30.400 --> 00:10:33.400 inspire many more anthropologists NOTE Treffsikkerhet: 88% (HØY) 00:10:33.400 --> 00:10:45.250 so this is a person whose whose ideas were based on anthropological research and whose ideas in turn 00:10:45.250 --> 00:10:54.500 created the theoretical basis for anthropological research, some of you might 00:10:54.500 --> 00:11:04.300 remember the famous piece by Paul Bohannnan that I think you read in SOSANT1000 NOTE Treffsikkerhet: 77% (HØY) 00:11:04.300 --> 00:11:14.200 or at least that many of you have heard about which is about the Tiv, Nigerian Tiv people and 00:11:14.200 --> 00:11:24.200 their economic spheres, and this is about how brass rods are separated in this particular economic 00:11:24.200 --> 00:11:34.500 sphere that is affected by the introduction of general purpose money NOTE Treffsikkerhet: 91% (HØY) 00:11:34.500 --> 00:11:45.500 into the economy, I am not going into Bohannan's case study but just to point out that there 00:11:45.500 --> 00:11:56.350 would be no Bohannan text about the introduction of money among the Tiv without Polanyi I think so 00:11:56.350 --> 00:12:04.849 Polanyi is credited with creating a theoretical NOTE Treffsikkerhet: 89% (HØY) 00:12:04.849 --> 00:12:15.500 school a perspective more precisely in economic anthropology which is called substantivism 00:12:15.500 --> 00:12:16.750 NOTE Treffsikkerhet: 91% (HØY) 00:12:16.750 --> 00:12:23.599 and that is a term you'll find explained and discussed a whole bit in the book by Hart and Hann NOTE Treffsikkerhet: 81% (HØY) 00:12:23.599 --> 00:12:32.400 Keith Hart and Chris Hann the textbook you're reading and you could use that book as a 00:12:32.400 --> 00:12:37.349 supplement as a kind of a something NOTE Treffsikkerhet: 88% (HØY) 00:12:37.349 --> 00:12:44.700 that you have with you throughout the course and read as you go along it's a quite clearly 00:12:44.700 --> 00:12:57.900 written rundown of lots of the history of economic anthropology as well as some of the founding ideas, 00:12:57.900 --> 00:13:05.600 and Karl Polanyi plays a key part in that book. I won't be spending a lot of time on Hart and Hann I will 00:13:05.600 --> 00:13:07.700 rather go straight to the more NOTE Treffsikkerhet: 84% (HØY) 00:13:07.700 --> 00:13:18.100 difficult texts I think for today which is Polanyi's chapters from The Great Transformation NOTE Treffsikkerhet: 89% (HØY) 00:13:18.500 --> 00:13:26.700 Just remember that Polanyi is now the second author on the syllabus who has made use of the writing of Malinowski 00:13:26.700 --> 00:13:41.300 That tells you two things one that Malinowski's text is important, do not leave that to the side okay 00:13:41.300 --> 00:13:43.000 read the Kula. NOTE Treffsikkerhet: 73% (MEDIUM) 00:13:43.000 --> 00:13:52.400 Two that within the Kula within this type of ethnographic research this is an 00:13:52.400 --> 00:14:01.800 incredibly fertile terrain for coming up with universal ideas with ideas that seek to explain so 00:14:01.800 --> 00:14:12.500 much more than just what's going on when men set out on canoes to exchange gifts on some 00:14:12.500 --> 00:14:12.950 islands NOTE Treffsikkerhet: 85% (HØY) 00:14:12.950 --> 00:14:15.100 in the Pacific. NOTE Treffsikkerhet: 91% (HØY) 00:14:17.700 --> 00:14:19.950 NOTE Treffsikkerhet: 88% (HØY) 00:14:19.950 --> 00:14:23.600 For today I would like you to NOTE Treffsikkerhet: 90% (HØY) 00:14:24.700 --> 00:14:34.050 Linger on three ideas, three ideas that we were supposed to remember and have some clue about 00:14:34.050 --> 00:14:41.300 that we can draw from Polanyi the idea about how economic and social structures can be 00:14:41.300 --> 00:14:44.500 either embedded or disembedded NOTE Treffsikkerhet: 91% (HØY) 00:14:44.500 --> 00:14:53.100 We will get back to this. The notion of fictitious commodities and the double movement okay so these are 00:14:53.100 --> 00:14:54.450 all NOTE Treffsikkerhet: 81% (HØY) 00:14:54.450 --> 00:15:00.000 ideas that we can add to our list of concepts, these are concepts that we can add to our list of 00:15:00.000 --> 00:15:11.800 that organise and make sense of the syllabus and that you can use to compare and draw that you can use 00:15:11.800 --> 00:15:21.700 as a kind of a well where you can go and draw in order to make your own 00:15:21.700 --> 00:15:23.400 arguments NOTE Treffsikkerhet: 70% (MEDIUM) 00:15:24.500 --> 00:15:26.800 in the exam, NOTE Treffsikkerhet: 78% (HØY) 00:15:26.800 --> 00:15:36.300 and throughout the course. Polanyi is mostly known for the book that you're reading for this week the 00:15:36.300 --> 00:15:41.800 great transformation and the great transformation in short refers to the emergence of what we can 00:15:41.800 --> 00:15:44.000 call market society NOTE Treffsikkerhet: 91% (HØY) 00:15:44.000 --> 00:15:48.600 so it's a shift in the 19th century towards NOTE Treffsikkerhet: 91% (HØY) 00:15:49.100 --> 00:15:59.400 making the market as the organising principle for an economy NOTE Treffsikkerhet: 81% (HØY) 00:16:05.800 --> 00:16:18.950 in the text that you reading you can locate both historical argument that is an argument about how 00:16:18.950 --> 00:16:27.100 this market economy an economy directed by market prices and nothing but market prices, how this 00:16:27.100 --> 00:16:33.750 economy came to be and how it differed from economic systems that came before it, NOTE Treffsikkerhet: 91% (HØY) 00:16:33.750 --> 00:16:36.050 and so NOTE Treffsikkerhet: 79% (HØY) 00:16:36.050 --> 00:16:44.400 much of the text deals with what characterised economic life in the world before the market became 00:16:44.400 --> 00:16:45.600 the NOTE Treffsikkerhet: 89% (HØY) 00:16:46.200 --> 00:16:52.700 organising principle of society, before roughly the 19th century. NOTE Treffsikkerhet: 76% (HØY) 00:16:52.700 --> 00:16:56.500 How did market society come about NOTE Treffsikkerhet: 91% (HØY) 00:16:57.600 --> 00:17:02.349 this is a part of his argument, NOTE Treffsikkerhet: 91% (HØY) 00:17:02.349 --> 00:17:11.800 and of course he uses this historical analysis to make a broader argument about what characterises economic 00:17:11.800 --> 00:17:19.599 life anywhere what characterises markets anywhere what how can we understand some of the 00:17:19.599 --> 00:17:28.000 key divisions in human society by studying history. NOTE Treffsikkerhet: 89% (HØY) 00:17:28.000 --> 00:17:36.600 This is Polanyi's project and we'll go into the details of what these things mean NOTE Treffsikkerhet: 85% (HØY) 00:17:41.600 --> 00:17:50.450 Anyone who reads this text you'll notice immediately that Karl Polanyi has a serious beef with 00:17:50.450 --> 00:17:59.300 neoclassical economists and what he calls the extraordinary assumptions underlying NOTE Treffsikkerhet: 91% (HØY) 00:17:59.300 --> 00:18:01.750 the market economy NOTE Treffsikkerhet: 80% (HØY) 00:18:01.750 --> 00:18:09.200 and when he is talking about these extraordinary assumptions he's talking about what we talked 00:18:09.200 --> 00:18:20.700 about in week 1 the neoliberal consensus remember the fundamental assumptions of neoliberals namely 00:18:20.700 --> 00:18:29.200 that there is such a thing as free markets and free market societies that markets occur naturally 00:18:29.200 --> 00:18:32.400 organically from the bottom up that is to say NOTE Treffsikkerhet: 85% (HØY) 00:18:32.400 --> 00:18:43.300 you know people as human beings as human animals we have a propensity to barter and exchange this is 00:18:43.300 --> 00:18:53.900 how we always did it and from this propensity from this tendency grew modern society. NOTE Treffsikkerhet: 76% (HØY) 00:18:54.500 --> 00:19:00.000 Market is moreover what lead to growth prosperity in human fulfilment NOTE Treffsikkerhet: 88% (HØY) 00:19:00.000 --> 00:19:08.400 free markets on intrinsic aspect of freedom in general this is the point made by Friedman and 00:19:08.400 --> 00:19:17.900 Friedman in their book free to choose, governments need to stay away they have nothing to do with 00:19:17.900 --> 00:19:26.500 markets they can get in the way of their operation they are antithetical to markets NOTE Treffsikkerhet: 90% (HØY) 00:19:26.500 --> 00:19:34.100 and hence the legitimate role of government is to ensure nothing but the security and rule of law 00:19:34.100 --> 00:19:36.949 within which markets can operate NOTE Treffsikkerhet: 91% (HØY) 00:19:36.949 --> 00:19:45.900 that's it, and Polanyi is making an argument against all these points NOTE Treffsikkerhet: 90% (HØY) 00:19:45.900 --> 00:19:58.250 and this will take a while to capture to get to his argument against the foundational 00:19:58.250 --> 00:20:08.850 assumptions of economic liberalism which found its way into our time via NOTE Treffsikkerhet: 91% (HØY) 00:20:08.850 --> 00:20:16.500 the political movement that brought Reagan and Thatcher to power thinkers like Milton and Rose 00:20:16.500 --> 00:20:20.700 Friedman which became neoliberals NOTE Treffsikkerhet: 71% (MEDIUM) 00:20:21.100 --> 00:20:23.300 all right NOTE Treffsikkerhet: 91% (HØY) 00:20:23.300 --> 00:20:36.800 Polanyi begins with setting the historical record straight okay so and this is 00:20:36.800 --> 00:20:41.199 an important question what existed before NOTE Treffsikkerhet: 89% (HØY) 00:20:41.199 --> 00:20:50.750 market society before the Industrial Revolution before Adam Smith in a society where you know 00:20:50.750 --> 00:20:58.550 that characterised most of human history what was NOTE Treffsikkerhet: 90% (HØY) 00:20:58.550 --> 00:21:05.800 and he says that the outstanding discovery of recent historical and anthropological research is that 00:21:05.800 --> 00:21:18.400 man's economy as a rule is or was submerged in his social relationships, all right so what does Polanyi 00:21:18.400 --> 00:21:20.600 mean by that NOTE Treffsikkerhet: 91% (HØY) 00:21:21.300 --> 00:21:30.699 he claims that people resolved what they needed in life in previous economic systems NOTE Treffsikkerhet: 91% (HØY) 00:21:30.699 --> 00:21:38.750 not by you know setting up an economy or society that looks like the one we have today NOTE Treffsikkerhet: 85% (HØY) 00:21:38.750 --> 00:21:46.400 but by doing something else, so it's a bit hard to imagine this part of the challenge 00:21:46.400 --> 00:21:54.800 here it's a bit hard to imagine a society without grocery stores where you are not expected to 00:21:54.800 --> 00:22:02.900 sell your labor to an employer and a labor market and get a wage that you spend in 00:22:02.900 --> 00:22:07.250 order to live, this is way society is organised today. NOTE Treffsikkerhet: 66% (MEDIUM) 00:22:07.250 --> 00:22:12.000 People before, NOTE Treffsikkerhet: 89% (HØY) 00:22:12.300 --> 00:22:21.500 across human history until roughly the 19th century says Polanyi resolved the necessities of life 00:22:21.500 --> 00:22:24.700 based on combinations NOTE Treffsikkerhet: 91% (HØY) 00:22:25.400 --> 00:22:27.750 of NOTE Treffsikkerhet: 91% (HØY) 00:22:27.750 --> 00:22:30.400 reciprocity NOTE Treffsikkerhet: 86% (HØY) 00:22:30.400 --> 00:22:39.200 so that's the gift exchange systems that Mauss writes about NOTE Treffsikkerhet: 82% (HØY) 00:22:39.900 --> 00:22:44.000 you could think of the Kula trade NOTE Treffsikkerhet: 88% (HØY) 00:22:44.500 --> 00:22:54.600 gifting between kin between clans the potlatch NOTE Treffsikkerhet: 89% (HØY) 00:22:54.600 --> 00:23:02.400 different ways of organising economies based on the principle of gift exchange NOTE Treffsikkerhet: 71% (MEDIUM) 00:23:02.400 --> 00:23:05.100 that's one NOTE Treffsikkerhet: 91% (HØY) 00:23:06.500 --> 00:23:11.000 way to resolve the necessities of life NOTE Treffsikkerhet: 91% (HØY) 00:23:11.000 --> 00:23:14.200 in previous economic systems NOTE Treffsikkerhet: 90% (HØY) 00:23:14.200 --> 00:23:22.700 redistribution is the other principle that Polanyi discovers or locates in historical and 00:23:22.700 --> 00:23:28.600 anthropological record redistribution being let's think of an example NOTE Treffsikkerhet: 68% (MEDIUM) 00:23:28.700 --> 00:23:43.200 feudalism which is where the landowner let's just put it very simply and the monarchs NOTE Treffsikkerhet: 82% (HØY) 00:23:43.900 --> 00:23:55.150 withdrew or laid claim on grain on wealth started taxing NOTE Treffsikkerhet: 87% (HØY) 00:23:55.150 --> 00:24:06.400 and centralised resources to redistribute them to people who needed them NOTE Treffsikkerhet: 84% (HØY) 00:24:06.600 --> 00:24:14.300 so you find different kinds of systems based on redistribution centralising 00:24:14.300 --> 00:24:22.800 resources and in huge empires like in Rome or in Egypt. NOTE Treffsikkerhet: 85% (HØY) 00:24:23.100 --> 00:24:26.600 Finally very importantly NOTE Treffsikkerhet: 88% (HØY) 00:24:26.800 --> 00:24:34.900 people resolve the necessities of life in previous economic systems based on the principle of 00:24:34.900 --> 00:24:44.949 house-holding so that is to produce and to store food for example or resources that you need NOTE Treffsikkerhet: 87% (HØY) 00:24:44.949 --> 00:24:53.850 for the satisfaction of the wants of the members of a certain group, you produce and you store to use 00:24:53.850 --> 00:25:08.900 these resources not to gain from them okay, so farmers producing in order to live not in order to 00:25:08.900 --> 00:25:10.400 sell NOTE Treffsikkerhet: 78% (HØY) 00:25:11.100 --> 00:25:16.650 and these are principles NOTE Treffsikkerhet: 89% (HØY) 00:25:16.650 --> 00:25:26.200 that says Polanyi are importantly not like the market principle the reciprocity redistribution and 00:25:26.200 --> 00:25:33.500 householding which is you know the the combination of how people resolve the necessities 00:25:33.500 --> 00:25:38.450 of life in previous economic systems NOTE Treffsikkerhet: 91% (HØY) 00:25:38.450 --> 00:25:44.600 these are not organised with the aim of NOTE Treffsikkerhet: 91% (HØY) 00:25:44.600 --> 00:25:48.000 producing economic gain NOTE Treffsikkerhet: 74% (MEDIUM) 00:25:48.700 --> 00:25:57.600 they are we can say examples of how the economic systems of the past were embedded within social 00:25:57.600 --> 00:26:04.300 structures, they were woven into social structures and I'm not saying this is necessarily a good 00:26:04.300 --> 00:26:15.500 thing okay so Polanyi is saying is not that you know these prior economic 00:26:15.500 --> 00:26:19.600 systems were free of hierarchy somehow NOTE Treffsikkerhet: 78% (HØY) 00:26:19.600 --> 00:26:40.500 or you know free from suppression, that you have people living without authoritarian rule no on 00:26:40.500 --> 00:26:48.500 the contrary there's lots of violence involved in gift exchange this you can think of the Potlatch 00:26:48.500 --> 00:26:49.150 how NOTE Treffsikkerhet: 83% (HØY) 00:26:49.150 --> 00:27:04.350 people are displaying their generosity in violent ways of how you're supposed to honour Chiefs who 00:27:04.350 --> 00:27:14.000 provide gifts and become their subordinates because of their greatness there are feudal Empires based 00:27:14.000 --> 00:27:18.600 on the principle of redistribution lords NOTE Treffsikkerhet: 76% (HØY) 00:27:18.600 --> 00:27:25.250 the Caesars and the Cleopatra's of the world NOTE Treffsikkerhet: 82% (HØY) 00:27:25.250 --> 00:27:34.500 there's a lot of redistribution without that being necessarily a laudable economic system but it's 00:27:34.500 --> 00:27:43.150 nonetheless an economic system that isn't based on principles that are not the market principle 00:27:43.150 --> 00:27:49.900 this is what Polanyi is saying they do not work on the basis of the market principle where one 00:27:49.900 --> 00:27:54.200 sells one's labor to an employer NOTE Treffsikkerhet: 91% (HØY) 00:27:54.200 --> 00:28:04.100 it's a wage and through this market exchange results the necessities of life NOTE Treffsikkerhet: 71% (MEDIUM) 00:28:04.100 --> 00:28:14.300 no these are examples of how economic systems were embedded in social structures NOTE Treffsikkerhet: 91% (HØY) 00:28:15.500 --> 00:28:18.000 NOTE Treffsikkerhet: 74% (MEDIUM) 00:28:19.100 --> 00:28:31.300 What about markets marketplaces trading bartering in these societies that not exist at all well of 00:28:31.300 --> 00:28:42.700 course it did you could think of the example of how people you know following the principle of 00:28:42.700 --> 00:28:48.800 householding producing and storing food for example NOTE Treffsikkerhet: 72% (MEDIUM) 00:28:48.800 --> 00:28:54.100 whether their own use would produce a surplus NOTE Treffsikkerhet: 78% (HØY) 00:28:54.100 --> 00:29:01.200 that they would then take to a market and sell, NOTE Treffsikkerhet: 91% (HØY) 00:29:01.500 --> 00:29:17.400 or other examples of where society needs certain resource that is not available in their own 00:29:17.400 --> 00:29:29.050 geographical setting and hence they would engage in long-term long-distance trade with others. NOTE Treffsikkerhet: 87% (HØY) 00:29:29.050 --> 00:29:36.900 So these things exist and existed says Polanyi, NOTE Treffsikkerhet: 86% (HØY) 00:29:38.400 --> 00:29:48.200 but they were peripheral, they were not essential institutions the market was not the central 00:29:48.200 --> 00:29:52.400 institution of these societies. NOTE Treffsikkerhet: 85% (HØY) 00:29:52.400 --> 00:30:00.600 He says that "in spite of the chorus of academic incantations so persistent in the 19th century NOTE Treffsikkerhet: 82% (HØY) 00:30:00.600 --> 00:30:03.700 and he's referring here to NOTE Treffsikkerhet: 85% (HØY) 00:30:03.700 --> 00:30:05.850 Adam Smith NOTE Treffsikkerhet: 80% (HØY) 00:30:05.850 --> 00:30:14.200 gain and profit made on exchange never before played an important part in human economy, though the 00:30:14.200 --> 00:30:20.850 institution of the market was fairly common since the later Stone Age its role was no more than 00:30:20.850 --> 00:30:27.900 incidental" so they are saying is that when we study any society before the 19th century what's striking 00:30:27.900 --> 00:30:33.150 is how different they are from what came after NOTE Treffsikkerhet: 76% (HØY) 00:30:33.150 --> 00:30:40.300 they're not organised around market exchange as it is today, people did not sell their labor to an 00:30:40.300 --> 00:30:44.700 employer, land was not a commodity. NOTE Treffsikkerhet: 91% (HØY) 00:30:44.700 --> 00:30:52.750 The market principle was not the organising principle of the economy, something happened. NOTE Treffsikkerhet: 91% (HØY) 00:30:52.750 --> 00:30:55.500 so what happened? NOTE Treffsikkerhet: 90% (HØY) 00:30:55.500 --> 00:31:03.800 what was it that changed? that took us to the course of history NOTE Treffsikkerhet: 91% (HØY) 00:31:03.800 --> 00:31:06.000 from NOTE Treffsikkerhet: 91% (HØY) 00:31:09.300 --> 00:31:13.750 a situation where the economy NOTE Treffsikkerhet: 91% (HØY) 00:31:13.750 --> 00:31:17.500 was thoroughly NOTE Treffsikkerhet: 91% (HØY) 00:31:17.500 --> 00:31:24.900 embedded in social structures to an economic system where NOTE Treffsikkerhet: 91% (HØY) 00:31:24.900 --> 00:31:33.000 something else something radically different emerged. What happened? NOTE Treffsikkerhet: 87% (HØY) 00:31:33.800 --> 00:31:45.800 well basically this is what his book is about the great transformation happened. It is a historical 00:31:45.800 --> 00:31:54.400 transformation that Polanyi is very interested in and that he spends many pages, his whole book indeed 00:31:54.400 --> 00:31:56.700 explaining NOTE Treffsikkerhet: 91% (HØY) 00:31:57.000 --> 00:32:03.300 and it is a transformation that ends up I think NOTE Treffsikkerhet: 91% (HØY) 00:32:03.300 --> 00:32:05.550 here. NOTE Treffsikkerhet: 91% (HØY) 00:32:05.550 --> 00:32:10.350 To the idea that the economy NOTE Treffsikkerhet: 91% (HØY) 00:32:10.350 --> 00:32:20.900 is its own thing, it has its own rules it does not have anything to do with society. NOTE Treffsikkerhet: 89% (HØY) 00:32:21.600 --> 00:32:31.400 It is a thing of its own, it's disembedded from political and social structures. This idea NOTE Treffsikkerhet: 90% (HØY) 00:32:31.400 --> 00:32:40.300 is kind of what the great transformation brings into being NOTE Treffsikkerhet: 91% (HØY) 00:32:41.300 --> 00:32:48.350 and in order to understand the details and the practicalities of that NOTE Treffsikkerhet: 88% (HØY) 00:32:48.350 --> 00:32:52.550 that is going to what Polanyi thought NOTE Treffsikkerhet: 90% (HØY) 00:32:52.550 --> 00:32:54.900 God is here NOTE Treffsikkerhet: 91% (HØY) 00:32:55.300 --> 00:32:58.750 and what NOTE Treffsikkerhet: 89% (HØY) 00:32:58.750 --> 00:33:02.600 produce this idea of NOTE Treffsikkerhet: 81% (HØY) 00:33:02.600 --> 00:33:05.700 the disembedded economy NOTE Treffsikkerhet: 78% (HØY) 00:33:05.700 --> 00:33:09.400 is basically the Industrial Revolution NOTE Treffsikkerhet: 91% (HØY) 00:33:11.600 --> 00:33:15.750 it is a process where NOTE Treffsikkerhet: 91% (HØY) 00:33:15.750 --> 00:33:27.000 land and labor became commodities, were turned into commodities because modern industry the 00:33:27.000 --> 00:33:39.500 Industrial Revolution needed land and labor as commodities. This argument is a bit difficult 00:33:39.500 --> 00:33:44.600 to grasp, so let's take it in a slow pace here. NOTE Treffsikkerhet: 84% (HØY) 00:33:45.100 --> 00:33:56.600 Let's say that you are a factory owner at the very beginning of the Industrial Revolution just for 00:33:56.600 --> 00:34:00.600 for the sake of the argument or as a thought experiment you have these NOTE Treffsikkerhet: 91% (HØY) 00:34:00.600 --> 00:34:13.850 new technologies at hand you have a building where you can store them, what do you need to get going? 00:34:13.850 --> 00:34:28.600 we need two things first and two things that didn't really exist before this time. You need people 00:34:28.600 --> 00:34:31.050 who can work in the machines NOTE Treffsikkerhet: 91% (HØY) 00:34:31.050 --> 00:34:40.199 at a regular and systematic basis and you need resources you need land from which you can draw 00:34:40.199 --> 00:34:48.800 resources that you can have people develop NOTE Treffsikkerhet: 91% (HØY) 00:34:48.800 --> 00:34:52.300 into profit NOTE Treffsikkerhet: 81% (HØY) 00:34:52.300 --> 00:34:57.700 so with the Industrial Revolution says Polanyi NOTE Treffsikkerhet: 76% (HØY) 00:34:57.700 --> 00:35:01.200 emerged this political movement NOTE Treffsikkerhet: 91% (HØY) 00:35:01.200 --> 00:35:11.700 to create a market in labor that is people who can come into factories and sell their efforts at 00:35:11.700 --> 00:35:17.000 regular intervals and market in land NOTE Treffsikkerhet: 76% (HØY) 00:35:17.500 --> 00:35:26.600 So now land and labor would now be sold at determined prices instead of being allocated 00:35:26.600 --> 00:35:34.800 according to tradition, according to the ideals of redistribution, reciprocity NOTE Treffsikkerhet: 88% (HØY) 00:35:35.200 --> 00:35:40.500 that determined earlier times. NOTE Treffsikkerhet: 90% (HØY) 00:35:40.500 --> 00:35:45.150 People come to sell their labor their efforts for salary, NOTE Treffsikkerhet: 80% (HØY) 00:35:45.150 --> 00:35:52.649 so instead of sailing around on canoes to do Kula exchange or instead of farming 00:35:52.649 --> 00:35:58.750 their own little produce their own little gardens for their relatives or their group so themselves 00:35:58.750 --> 00:36:08.200 they were turned into wage workers and similarly for the question of land NOTE Treffsikkerhet: 80% (HØY) 00:36:08.300 --> 00:36:18.900 land was either owned by certain chiefs or certain nobility or it was common land it was just land 00:36:18.900 --> 00:36:21.800 laying there where NOTE Treffsikkerhet: 91% (HØY) 00:36:22.100 --> 00:36:29.950 animals grazed or where people hang out there was no free market for land NOTE Treffsikkerhet: 91% (HØY) 00:36:29.950 --> 00:36:41.100 land for sale land as a commodity before the Industrial Revolution before the growth and 00:36:41.100 --> 00:36:45.300 the emergence of capitalism as we know it. NOTE Treffsikkerhet: 89% (HØY) 00:36:47.100 --> 00:36:59.200 land and labor in order for the great transformation to happen had to be turned into commodities, had 00:36:59.200 --> 00:37:09.800 to be separated disembedded from the wider social structures that they were part of NOTE Treffsikkerhet: 90% (HØY) 00:37:10.400 --> 00:37:22.100 and this is where Polanyi's concept of fictitious commodities comes into play, and this is a 00:37:22.100 --> 00:37:26.450 concept another key concept that I want you to take from Polanyi. NOTE Treffsikkerhet: 85% (HØY) 00:37:26.450 --> 00:37:34.800 Fictitious commodities - primarily land and labor focus on these. NOTE Treffsikkerhet: 91% (HØY) 00:37:34.800 --> 00:37:42.800 A self-regulating market or imagined first the industrial NOTE Treffsikkerhet: 91% (HØY) 00:37:42.800 --> 00:37:56.300 owner needs a way to purchase labour-power and to purchase resources tied to the land NOTE Treffsikkerhet: 90% (HØY) 00:37:57.500 --> 00:38:08.500 but says Polanyi these are things that are central to the functioning of the market economy, but 00:38:08.500 --> 00:38:13.500 they're not actually commodities in the first place okay. NOTE Treffsikkerhet: 91% (HØY) 00:38:14.100 --> 00:38:23.300 Labor is just another name for human activity that goes with life itself he says NOTE Treffsikkerhet: 86% (HØY) 00:38:24.400 --> 00:38:31.500 so how do you actually separate labor from the whole human who labours NOTE Treffsikkerhet: 75% (MEDIUM) 00:38:32.600 --> 00:38:43.300 you can't move people around as if they are commodities at least not without the costs great costs to 00:38:43.300 --> 00:38:44.900 humans, NOTE Treffsikkerhet: 86% (HØY) 00:38:47.000 --> 00:38:52.950 land he says is just another name for nature NOTE Treffsikkerhet: 87% (HØY) 00:38:52.950 --> 00:39:01.300 it is not a commodity in itself, it was never made for the market it had to be socially constructed 00:39:01.300 --> 00:39:03.200 as a commodity. NOTE Treffsikkerhet: 91% (HØY) 00:39:03.700 --> 00:39:06.100 NOTE Treffsikkerhet: 90% (HØY) 00:39:08.600 --> 00:39:14.300 Dow do you actually separate land from the whole of the natural surroundings and all the Customs 00:39:14.300 --> 00:39:20.600 That go into land how do you what is the political process that has to happen in order for land 00:39:20.600 --> 00:39:25.600 and labor to become commodities because they are not in themselves their fictitious they are fake 00:39:25.600 --> 00:39:37.500 Commodities says Polanyi. Well the idea of the commodity itself is crucial for this to happen NOTE Treffsikkerhet: 91% (HØY) 00:39:37.800 --> 00:39:41.200 the idea of the commodity NOTE Treffsikkerhet: 64% (MEDIUM) 00:39:41.200 --> 00:39:43.700 Being NOTE Treffsikkerhet: 91% (HØY) 00:39:44.000 --> 00:39:49.100 say this has nothing to do NOTE Treffsikkerhet: 91% (HØY) 00:39:49.100 --> 00:39:58.900 with morals this has nothing to do with social structures, social bonds, reciprocity, obligation it is 00:39:58.900 --> 00:40:05.400 only a matter of Economics it's only a matter of a separate sphere NOTE Treffsikkerhet: 91% (HØY) 00:40:05.700 --> 00:40:20.149 it's just business nothing personal, these are ways to create separations in the web that is 00:40:20.149 --> 00:40:24.900 human existence in order to make the market work NOTE Treffsikkerhet: 91% (HØY) 00:40:24.900 --> 00:40:27.050 so NOTE Treffsikkerhet: 91% (HØY) 00:40:27.050 --> 00:40:36.000 he goes into the historical process by which land and labor became commodities by having 00:40:36.000 --> 00:40:46.000 movements that enforced laws that said that there is such a thing as private property that there are 00:40:46.000 --> 00:40:55.100 that divided up the land into pieces that people could own and sell and trade NOTE Treffsikkerhet: 88% (HØY) 00:40:55.100 --> 00:41:03.600 that enforced laws against NOTE Treffsikkerhet: 86% (HØY) 00:41:09.000 --> 00:41:22.450 idleness against people just hanging out doing nothing that created work houses that actually 00:41:22.450 --> 00:41:25.600 forced people to work NOTE Treffsikkerhet: 91% (HØY) 00:41:26.800 --> 00:41:29.600 and so NOTE Treffsikkerhet: 91% (HØY) 00:41:31.500 --> 00:41:34.300 let's NOTE Treffsikkerhet: 88% (HØY) 00:41:34.500 --> 00:41:45.050 recap a little bit where we've come right now. Polanyi is saying that market trading NOTE Treffsikkerhet: 89% (HØY) 00:41:45.050 --> 00:41:52.550 is not the natural state of affairs to man NOTE Treffsikkerhet: 85% (HØY) 00:41:52.550 --> 00:42:03.300 market trading and market behaviour gainful pursuit it's not natural to man, you don't find 00:42:03.300 --> 00:42:10.900 this in the deep history of human society NOTE Treffsikkerhet: 86% (HØY) 00:42:11.000 --> 00:42:18.500 rather you see that economic motives as he says spring from the context of social life NOTE Treffsikkerhet: 91% (HØY) 00:42:19.300 --> 00:42:34.900 so there's nothing natural about industrial market economy it was a political process that created 00:42:34.900 --> 00:42:43.200 the market economy as we know it today, so the market is NOTE Treffsikkerhet: 75% (MEDIUM) 00:42:43.200 --> 00:42:47.400 a planned institution in the sense, NOTE Treffsikkerhet: 91% (HØY) 00:42:47.800 --> 00:42:52.800 this is key to understanding Polanyi. NOTE Treffsikkerhet: 77% (HØY) 00:42:53.100 --> 00:43:03.100 It's important to remember I think that the book and this is a detail which is revealing, the book 00:43:03.100 --> 00:43:08.000 He wrote is called the Great transformation but one of the other titles that he considered for a 00:43:08.000 --> 00:43:15.300 long while for this book is the liberal Utopia NOTE Treffsikkerhet: 80% (HØY) 00:43:15.500 --> 00:43:19.700 and the liberal Utopia is to say that NOTE Treffsikkerhet: 91% (HØY) 00:43:20.400 --> 00:43:32.600 It is not possible to create a society where everything is for sale where everything has a 00:43:32.600 --> 00:43:34.800 market price NOTE Treffsikkerhet: 80% (HØY) 00:43:36.200 --> 00:43:47.400 this society is a utopia because land and labor are not commodities they're not made for the market 00:43:47.400 --> 00:43:57.399 they cannot be moved around traded and sold as any other commodity on the market without terrible 00:43:57.399 --> 00:43:59.800 human cost. NOTE Treffsikkerhet: 91% (HØY) 00:44:01.000 --> 00:44:07.150 Land and labour as commodities that are NOTE Treffsikkerhet: 83% (HØY) 00:44:07.150 --> 00:44:17.649 subject to the laws of supply and demand it would lead to human degradation and suffering NOTE Treffsikkerhet: 89% (HØY) 00:44:17.649 --> 00:44:23.700 environmental destruction says Polanyi, he predicts that the effects of treating 00:44:23.700 --> 00:44:32.000 everything as if it was for sale on the market will be awful beyond description. NOTE Treffsikkerhet: 78% (HØY) 00:44:32.800 --> 00:44:35.149 In a sense NOTE Treffsikkerhet: 85% (HØY) 00:44:35.149 --> 00:44:47.300 Polanyi was of course on to something here, we can think of how do the treatment of labor as a 00:44:47.300 --> 00:44:48.600 commodity NOTE Treffsikkerhet: 91% (HØY) 00:44:48.600 --> 00:44:50.750 NOTE Treffsikkerhet: 91% (HØY) 00:44:50.750 --> 00:44:55.350 that can be bought and sold in a market NOTE Treffsikkerhet: 91% (HØY) 00:44:55.350 --> 00:45:01.500 has had terrible consequences for NOTE Treffsikkerhet: 87% (HØY) 00:45:02.000 --> 00:45:14.800 the vast majority of the poor of this world. We could think of I remember when I was working in 00:45:14.800 --> 00:45:23.300 Lesotho an enclave inside South Africa, by chance I lived next to a jeans factory NOTE Treffsikkerhet: 82% (HØY) 00:45:23.300 --> 00:45:31.200 Lesotho is called the jeans capital of Africa, or the center of production of jeans. If you have 00:45:31.200 --> 00:45:39.050 a levi's pair of jeans there's a good chance that it's produced here and people in this factory 00:45:39.050 --> 00:45:40.600 lined up NOTE Treffsikkerhet: 85% (HØY) 00:45:40.600 --> 00:45:48.800 by the hundreds thousands someday to come in and sell their labor in 10 to 12 hour shifts, fill their 00:45:48.800 --> 00:45:51.750 lungs with all kinds of chemicals that were NOTE Treffsikkerhet: 75% (MEDIUM) 00:45:51.750 --> 00:45:58.700 floating in the air as part of this production process, in order to produce NOTE Treffsikkerhet: 91% (HØY) 00:45:58.700 --> 00:46:08.950 jeans and in the market logic the prices of their labor NOTE Treffsikkerhet: 81% (HØY) 00:46:08.950 --> 00:46:18.400 had to stay really low because in this free quote unquote "free" market these 00:46:18.400 --> 00:46:27.600 labourers in Lesotho were competing with other labourers in other parts of the world Bangladesh 00:46:27.600 --> 00:46:38.100 southern Asia who also could sell their labour at a very low price, which means if they would demand higher 00:46:38.100 --> 00:46:39.200 wages or better NOTE Treffsikkerhet: 79% (HØY) 00:46:39.200 --> 00:46:46.400 Working conditions the company that produced these jeans would simply take their production elsewhere. NOTE Treffsikkerhet: 87% (HØY) 00:46:46.400 --> 00:46:56.250 So this is an effect of treating labour as a commodity NOTE Treffsikkerhet: 91% (HØY) 00:46:56.250 --> 00:46:59.550 it is freely NOTE Treffsikkerhet: 87% (HØY) 00:46:59.550 --> 00:47:09.600 sold and bought in the market, and in fact that Polanyi describes this awful beyond description NOTE Treffsikkerhet: 88% (HØY) 00:47:09.700 --> 00:47:17.500 because human labor is not a commodity in itself, it is turned into a commodity would pretend 00:47:17.500 --> 00:47:19.550 that it is a fictitious commodity NOTE Treffsikkerhet: 91% (HØY) 00:47:19.550 --> 00:47:28.400 with great consequences for a great number of people, if you do not have rules and counter movements 00:47:28.400 --> 00:47:35.600 in place that ensure that it is something more than a commodity that is not just a commodity. NOTE Treffsikkerhet: 91% (HØY) 00:47:38.400 --> 00:47:41.600 same you can say of NOTE Treffsikkerhet: 85% (HØY) 00:47:44.200 --> 00:47:57.700 Land, if you have the idea that land is a commodity that can be sold or traded to the highest bidder and 00:47:57.700 --> 00:48:03.100 exploited by anyone without any checks and balances NOTE Treffsikkerhet: 87% (HØY) 00:48:03.100 --> 00:48:12.100 the result is environmental degradation potentially, without any concern for anything beyond NOTE Treffsikkerhet: 86% (HØY) 00:48:12.100 --> 00:48:15.149 price and gain, NOTE Treffsikkerhet: 83% (HØY) 00:48:15.149 --> 00:48:22.150 and what result we see around us across the world today NOTE Treffsikkerhet: 87% (HØY) 00:48:22.150 --> 00:48:32.200 land exploitation until the point of degradation destruction until the earth burns. NOTE Treffsikkerhet: 88% (HØY) 00:48:33.200 --> 00:48:42.400 What Polanyi does in his text is warn he puts a kind of a warning signal that once you start 00:48:42.400 --> 00:48:44.700 treating land and labor as NOTE Treffsikkerhet: 91% (HØY) 00:48:44.700 --> 00:48:53.700 Commodities that can be sold freely in the market these could be the consequences. NOTE Treffsikkerhet: 91% (HØY) 00:48:55.100 --> 00:49:03.700 In fact they are the logical endpoint of saying that land is nothing but a commodity, labor is 00:49:03.700 --> 00:49:05.800 nothing but a commodity. NOTE Treffsikkerhet: 83% (HØY) 00:49:07.700 --> 00:49:18.600 But, he says and here is the final concept I want you to take from Polanyi human society would have 00:49:18.600 --> 00:49:26.100 been annihilated he says if it hadn't been for the productive counter moves NOTE Treffsikkerhet: 78% (HØY) 00:49:27.400 --> 00:49:32.300 to treat land and labor as total commodities, NOTE Treffsikkerhet: 84% (HØY) 00:49:32.300 --> 00:49:41.800 the counter moves that blunted the self-destructive mechanism of the market economy he says. His 00:49:41.800 --> 00:49:44.150 concept of the double move, NOTE Treffsikkerhet: 91% (HØY) 00:49:44.150 --> 00:49:49.900 double movement he's trying to say that NOTE Treffsikkerhet: 86% (HØY) 00:49:49.900 --> 00:49:55.300 there are counter movements to treating land and labor as total commodities NOTE Treffsikkerhet: 91% (HØY) 00:49:55.300 --> 00:50:02.900 because they are fictitious commodities people will resist the move to reduce everything to economic 00:50:02.900 --> 00:50:04.600 principles. NOTE Treffsikkerhet: 90% (HØY) 00:50:06.000 --> 00:50:15.600 there are counter trends that emerged that seek to protect society from commodification NOTE Treffsikkerhet: 80% (HØY) 00:50:17.300 --> 00:50:28.200 and there is a kind of an ebb and flow of commodification and resistance and pushback based on 00:50:28.200 --> 00:50:42.700 non-economic principles save land from destruction the earth NOTE Treffsikkerhet: 51% (MEDIUM) 00:50:43.200 --> 00:50:45.550 concern NOTE Treffsikkerhet: 91% (HØY) 00:50:45.550 --> 00:50:48.850 not just profit, these kinds of NOTE Treffsikkerhet: 91% (HØY) 00:50:48.850 --> 00:51:02.650 ideas that are mobilised to counter the commodification of land and labor, this is what NOTE Treffsikkerhet: 73% (MEDIUM) 00:51:02.650 --> 00:51:12.400 Polanyi refers to the double movement the ebb and flow of commodification and resistance based 00:51:12.400 --> 00:51:14.900 on non-economic principles. NOTE Treffsikkerhet: 84% (HØY) 00:51:15.600 --> 00:51:27.100 The labor union movement saying that you know labor human efforts is not just a commodity that you can 00:51:27.100 --> 00:51:34.700 sell and trade on the market we are humans we have certain rights NOTE Treffsikkerhet: 91% (HØY) 00:51:35.100 --> 00:51:45.400 to life there are certain people who should not be treated as commodities, children are not 00:51:45.400 --> 00:51:58.100 allowed to work, we are not allowed to work at any hour we are guaranteed the right to leisure, NOTE Treffsikkerhet: 85% (HØY) 00:51:58.400 --> 00:52:05.149 these are projects within the economy that are based on NOTE Treffsikkerhet: 91% (HØY) 00:52:05.149 --> 00:52:08.750 Notions of what's right and wrong NOTE Treffsikkerhet: 57% (MEDIUM) 00:52:08.750 --> 00:52:11.800 they're examples of NOTE Treffsikkerhet: 91% (HØY) 00:52:11.800 --> 00:52:15.700 Morality in the economy, NOTE Treffsikkerhet: 89% (HØY) 00:52:17.000 --> 00:52:23.600 and you can use this term and think with this term the double movement between as I said 00:52:23.600 --> 00:52:30.500 Commodification producing more and more things for turning more and more things into commodities 00:52:30.500 --> 00:52:37.800 fictitious commodities for sale on the market and then the response or backlash against that you can 00:52:37.800 --> 00:52:47.900 use this term to categorise and identify both a lot of what happens NOTE Treffsikkerhet: 88% (HØY) 00:52:47.900 --> 00:52:52.700 in the text on the syllabus but also NOTE Treffsikkerhet: 85% (HØY) 00:52:52.900 --> 00:53:02.000 around you in your daily lives in the political process you can use this time to understand the 00:53:02.000 --> 00:53:05.050 Norwegian Electro NOTE Treffsikkerhet: 89% (HØY) 00:53:05.050 --> 00:53:11.200 race that is happening right now to understand how different parties are reacting differently why 00:53:11.200 --> 00:53:14.600 we're seeing a political shift NOTE Treffsikkerhet: 76% (HØY) 00:53:16.700 --> 00:53:28.850 that reacts to let's say the commodification of childcare or the NOTE Treffsikkerhet: 91% (HØY) 00:53:28.850 --> 00:53:32.750 turning hospital services NOTE Treffsikkerhet: 72% (MEDIUM) 00:53:32.750 --> 00:53:35.100 into NOTE Treffsikkerhet: 84% (HØY) 00:53:36.800 --> 00:53:45.899 something that can be traded and turned into profits in the market. These are very contentious issues 00:53:45.899 --> 00:53:54.000 surrounding us today that Polanyi would use the idea of the double movement to explain and that 00:53:54.000 --> 00:53:56.900 you can discuss in your seminars NOTE Treffsikkerhet: 91% (HØY) 00:53:56.900 --> 00:54:03.600 and for that matter outside your seminars. NOTE Treffsikkerhet: 89% (HØY) 00:54:04.700 --> 00:54:16.400 Another example is in terms of land as a fictitious commodity, and how this produces a counter 00:54:16.400 --> 00:54:23.800 movement is of course I don't know if you've heard of the farmers protests in India it's a very 00:54:23.800 --> 00:54:31.200 clear example of what Polanyi speaks of as a double movement, so in and around the capital of Delhi and 00:54:31.200 --> 00:54:35.050 just go into this example before we wrap it up NOTE Treffsikkerhet: 91% (HØY) 00:54:35.050 --> 00:54:44.400 in and around the capital of New Delhi hundreds of thousands of farmers from for now close to two 00:54:44.400 --> 00:54:50.400 years have been protesting against the government's attempts to reform NOTE Treffsikkerhet: 85% (HØY) 00:54:50.400 --> 00:54:57.300 agriculture okay so to reform what you can do with land, and they're protesting particularly against 00:54:57.300 --> 00:55:05.800 farming laws that would reduce the government's role in agriculture and open space for more private 00:55:05.800 --> 00:55:13.000 investors so before the I don't know if you know this case but the Indian State they guaranteed that 00:55:13.000 --> 00:55:19.300 they would pay a certain price for the certain essential crops, the state was obliged if you were a 00:55:19.300 --> 00:55:20.600 farmer to buy NOTE Treffsikkerhet: 72% (MEDIUM) 00:55:20.600 --> 00:55:28.800 parts of your produce as a guarantee as this kind of safety now with these suggested laws they will 00:55:28.800 --> 00:55:37.500 no longer do that and leave farmers on their own facing multinational 00:55:37.500 --> 00:55:48.100 corporations or national large Indian corporations that work on solely market principle what sells 00:55:48.100 --> 00:55:50.600 and what doesn't sell, there would be no protection. NOTE Treffsikkerhet: 77% (HØY) 00:55:50.600 --> 00:55:57.149 Much less protection for the individual farmer, NOTE Treffsikkerhet: 86% (HØY) 00:55:57.149 --> 00:56:05.500 and this you can say is a distinctly neoliberal to use another term from the first week 00:56:05.500 --> 00:56:07.300 neoliberal NOTE Treffsikkerhet: 91% (HØY) 00:56:07.300 --> 00:56:13.500 initiative insofar as they this NOTE Treffsikkerhet: 91% (HØY) 00:56:13.500 --> 00:56:28.250 initiative seeks to enable market forces to take hold to free up and dismantle the structures NOTE Treffsikkerhet: 89% (HØY) 00:56:28.250 --> 00:56:37.700 with which the state protected and regulated agricultural land in India, but of course people are 00:56:37.700 --> 00:56:38.900 protesting. NOTE Treffsikkerhet: 82% (HØY) 00:56:38.900 --> 00:56:49.800 Farmers are spilling onto the streets as an example of how commodification again creates its own 00:56:49.800 --> 00:57:00.100 counter move its own resistance and you can draw several of such concrete comparisons in the 00:57:00.100 --> 00:57:08.000 syllabus and outside it, and I encourage you to keep doing that in the weeks to come. NOTE Treffsikkerhet: 90% (HØY) 00:57:09.000 --> 00:57:18.800 One heads up for you right now is to say that Polanyi laid the groundwork for much of what 00:57:18.800 --> 00:57:27.900 EP Thompson and James C. Scott would write about later and their text about moral economy, this 00:57:27.900 --> 00:57:35.200 is in a few weeks. All right so let's see if we can wrap things up now. NOTE Treffsikkerhet: 90% (HØY) 00:57:37.200 --> 00:57:45.600 Well the great transformation that Polanyi writes about and that we've been discussing this week is 00:57:45.600 --> 00:57:54.000 indeed it's a shift from almost everything that came before it says Polanyi but at 00:57:54.000 --> 00:58:04.950 same time never finished it will never end because attempts at disembedding the economy NOTE Treffsikkerhet: 91% (HØY) 00:58:04.950 --> 00:58:21.300 will always meet counter moves, meet resistance from groups from movements that claim that 00:58:21.300 --> 00:58:31.100 what is being marketed well as being commoditised does not in fact belong in an economy in a 00:58:31.100 --> 00:58:32.850 in a market NOTE Treffsikkerhet: 89% (HØY) 00:58:32.850 --> 00:58:45.750 it is being fought back movements that fight back against the commodification of new spheres of new 00:58:45.750 --> 00:58:58.400 activities saying that there are other things that matter beyond economic gain, beyond the profit 00:58:58.400 --> 00:59:02.900 motive, beyond the economic, as it NOTE Treffsikkerhet: 91% (HØY) 00:59:02.900 --> 00:59:10.400 interpreted by neoclassical economists that matter and that needs to be taken into account NOTE Treffsikkerhet: 83% (HØY) 00:59:12.400 --> 00:59:23.500 in order for the economy to function in a humane and fair way. So again we are back to this point 00:59:23.500 --> 00:59:30.800 from previous lectures and that we will return to again later, that there is more morality in the 00:59:30.800 --> 00:59:40.500 economy than we tend to think there are always non economic mechanisms and principles that influence 00:59:40.500 --> 00:59:42.600 what we think of NOTE Treffsikkerhet: 81% (HØY) 00:59:42.600 --> 00:59:53.300 as right and how we organise an economy, there is always a battle going on between says Polanyi 00:59:53.300 --> 01:00:00.450 between movements to commodify NOTE Treffsikkerhet: 90% (HØY) 01:00:00.450 --> 01:00:10.250 human life to create to turn things that were not meant for the market into commodities that are 01:00:10.250 --> 01:00:13.200 subject to NOTE Treffsikkerhet: 82% (HØY) 01:00:13.200 --> 01:00:16.500 trade to sell NOTE Treffsikkerhet: 80% (HØY) 01:00:16.500 --> 01:00:28.200 and movements that seek to reclaim these commodities as parts of human life as 01:00:28.200 --> 01:00:35.550 something that is supposed to be that should be governed by other principles than NOTE Treffsikkerhet: 91% (HØY) 01:00:35.550 --> 01:00:39.500 the market principles NOTE Treffsikkerhet: 81% (HØY) 01:00:39.500 --> 01:00:54.000 let's apply the man then trade with the profit motive. All right this is as far as we come 01:00:54.000 --> 01:01:02.700 today. Again look for associations that you can make to these concepts that we've been 01:01:02.700 --> 01:01:09.700 talking about so far gifts, commodities, morality NOTE Treffsikkerhet: 81% (HØY) 01:01:09.700 --> 01:01:21.000 Markets, freedom see if you can the Kula I mean empirical concepts gimwali gift exchange commodity 01:01:21.000 --> 01:01:29.000 exchange see if you can draw connections between them that is the key to proceeding well in this 01:01:29.000 --> 01:01:36.200 course and to understanding more and more as we move along in the weeks ahead will be talking much 01:01:36.200 --> 01:01:39.750 more about the morality and NOTE Treffsikkerhet: 79% (HØY) 01:01:39.750 --> 01:01:47.200 the moral underpinnings of the market in the weeks ahead, we'll be talking about the relations more 01:01:47.200 --> 01:01:55.700 specifically between gift exchange and commodity exchange and how gifts and commodities are actually 01:01:55.700 --> 01:02:01.100 things that come in and out of being and NOTE Treffsikkerhet: 83% (HØY) 01:02:01.100 --> 01:02:13.150 it will try again to build on what we've had so far but for now I'll leave it to the seminars to pick 01:02:13.150 --> 01:02:19.900 pick it up where we leave it and I'll see and hear from you next week.