Radical (re) readings of Polanyi: splitting hairs and building bridges

Karl Polanyi has inspired generations of critical scholars and debates about his work show no sign of abating. This reflects the relevance of his ideas and the multiple ways in which they have been interpreted. In a recent article in this journal, Alcock [(2024). Re-embedding Polanyi’s double movement thesis: The non-ideological and destructive countermovement. Globalizations] contributes to these debates by offering a novel reading of one of Polanyi’s core concepts – the ‘countermovement’. He argues that it is best understood as ‘non-ideological’ and ‘destructive’ and that alternative readings of the concept are ‘disembedded’ from Polanyi’s writing. In response, this article discusses the strengths and weaknesses of Alcock’s formulation and makes the case for multiple ‘embedded’ readings of the concept rather than a single definitive interpretation. It concludes by calling for greater unity and solidarity between critical scholars. This article deepens discussions about Polanyian theory and contributes to debates about the capitalist conjuncture, including the growing threat of fascism.