As part of the International Karl Polanyi Society's new column 'Polanyi All Over the World', our members Bruno de Conti and Patricia Villen gave the series' first interview about how to interpret Polanyi's ideas within the Brazilian context.
"Polanyi’s core contribution to a deep understanding of capitalism lies in his critical analysis of economic liberalism and its contradictions. This is a key-element for studies on Latin America, because these contradictions are much stronger in peripheral countries, resulting in tragic consequences for its population. For instance: Economic liberalism forces countries, that mainly (or exclusively) rely on the export of natural resources, to maintain the same marginal role in the international division of labour forever. In countries, which had a colonial past or a past including a slave-system, economic liberalism deepens the inequalities in the labour market and in society; in countries with peripheral currencies, economic liberalism stimulates speculation and thereby intensifies the volatility of capital flows, exchange and interest rate."
Read the full interview.