Abstract: In an age of egregious inequality and rising authoritarian, many call for a new “moral economy” and turn to Karl Polanyi’s The Great Transformation for inspiration. Yet Polanyi’s great insight is that those who cannot reckon with the moral economy of “market justice”—the claim that market outcomes, however unequal, are morally just—fail to understand the power of capitalism. Justified by its original claim to rest on natural science, market justice laid the predicate for democracy as mortal threat. Polanyi reveals market justice as based not on natural law but on predistributive political power, and builds his democratic socialist vision on the “reality of society.”
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Our long-awaited issue of Humanity journal is out! Its special dossier, Iran under Sanctions, examines the myriad and devastating impacts of international sanctions on society, culture, and politics. The issue includes an essay on the legal case Herero and Nama v. The Federal Republic of Germany to theorize reparations for German colonialism and slavery as they became linked with the aftermath of the Shoah. It also includes essays on T.H. Marshall and the right of access to justice; visual representations of Armenian genocide survivors; and, the concept of radical friendship in relation to the Farmers’ Protests in India.
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