Ariane Fischer, David Woodruff, and Johanna Bockman have translated Karl Polanyi’s “Sozialistische Rechnungslegung” [“Socialist Accounting”] from 1922. In this article, Polanyi laid out his model of a future socialism, a world in which the economy is subordinated to society. Polanyi described the nature of this society and a kind of socialism that he would remain committed to his entire life. Accompanying the translation is the preface titled “Socialism and the embedded economy.” In the preface, Bockman explains the historical context of (...) the article and its significance to the socialist calculation debate, the social sciences, and socialism more broadly. Based on her reading of the accounting and society that Polanyi offers here, Bockman argues that scholars have too narrowly used Polanyi’s work to support the Keynesian welfare state to the exclusion of other institutions, have too broadly used his work to study social institutions indiscriminately, and have not recognized that his work shares fundamental commonalities with and often unacknowledged distinctions from neoclassical economics. (shrink)

Scholars have argued that transnational networks of right-wing economists and activists caused the worldwide embrace of neoliberalism. Using the case of an Italian think tank, CESES, associated with these networks, the author shows that the origins of neoliberalism were not in hegemony but in liminality. At CESES, the Italian and American right sought to convert Italians to free market values by showing them how Soviet socialism worked. However, CESES was created in liminal spaces that opened up within and between Soviet (...) socialism and Western capitalism after the death of Joseph Stalin in 1953. Scholars from East and West at CESES developed new knowledge about actually existing socialism, which, due to the shifting context of the Cold War, seemed to provoke left-wing sympathies among the scholars and the students involved. CESES in fact required left-wing scholars, who had necessary skills and a fascination with a common project of democratic or market socialism, to create this new knowledge. The new knowledge that developed out of an East–West dialogue not only helped right-wing transnational networks to reorient their hegemonic projects, but also helped those on the left to understand actually existing socialism and what socialism might become. This knowledge could not be obtained without this dialogue and had to travel through liminal spaces. (shrink)