IDSB01H3 Lecture Notes - Lecture 12: Karl Polanyi, Common Rule, Atomism
2 Dec 2017
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Week 12 idsb10: institutional political economy has root in the late 18 nd 1900s. Fictions commodities: treat land, labour, and money as commodities can be subject to abuse because u can pay for it lead to the degradation of land and ppl. Self regulating markets: embedded and dismebbed economies: embedded markets more natural social and culture parties embedded in market practices vs disemmbbed forcing a certain type of market ideology not natural evolving look at tut notes. Prescitpitopn for development strong state with progressive politics to ensure everybody have access to education nd good insfrastcture create more of an even playing field -> will create more equal opportunities for poor areas to get resources. Nie: undertand to how make capitalism efficient instead of proving efficiency. Nc: p. p and competitive markets lead to maximum welfare and efficient. Oie: econ isniutins r cultural and political, constructs evolve over time.
