The Rise of the Capital-state and Neo-nationalism: a Neo-Polanyian Perspective

Economic Sociology & Political Economy

by Oleksandr Svitych*

We are living in the times of the populist nationalist challenge to the liberal order. This challenge comes in many forms, including reactionary and progressive ones – from Marine Le Pen’s Front National in France to Jobbik in Hungary, to Manuel López Obrador’s MORENA in Mexico and Pauline Hanson’s One Nation in Australia. Nationalist sentiments have surged anew both in the “Global North” – as symbolized by Trumpism and Brexit – and in the “Global South” – as represented by aggressive nationalisms in places like India and Brazil. If we are to provide a comprehensive understanding of the neo-nationalist phenomenon, we need to transcend the culture versus economy debate and look for deeper systemic causes. This is the role that a Polanyian perspective can fulfill.
The analysis of neo-nationalism cannot be detached entirely from the processes occurring in the capitalist global economy. Political economy gives the…

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