Category Archives: Media

Dani Rodrik: Karl Polanyi and Globalization’s Wrong Turn


In April and May of 2019, the Department of Socioeconomics at WU Vienna organised the Polanyi Lectures, which were part of the framework program of the International Karl Polanyi Conference 2019. The lectures, co-organized  by the Institute for Multi-Level Governance and Development, welcomed:

  • Dani Rodrik, economist and Ford Foundation Professor of International Political Economy at Harvard’s John F. Kennedy School of Government, 
  • Jamie Peck, Canada Research Chair in Urban & Regional Political Economy, Distinguished University Scholar, and Professor of Geography at the University of British Columbia in Vancouver and
  • Marguerite Mendell, Director of the Karl Polanyi Institute of Political Economy Montreal.

In his lecture ‘Karl Polanyi and Globalization’s Wrong Turn’, Dani Rodrik argues: 

“Globalization took a wrong turn when it overlooked Polanyi’s central insight that markets need to be embedded in institutions, both for effectiveness and legitimacy. The brief period of Bretton Woods-style globalization in the decades following World War II was more Polanyiesque in so far it did not question the centrality of national economic management and regulation. Constructing a viable globalization will require going back to that central insight, though the results are unlikely to look much like the Bretton Woods regime.”

You can watch the full lecture here or read the transcript of the lecture below (PDF) : 

Further Links: 
Dani Rodrik: Karl Polanyi and Globalization’s wrong turn – Transcript of the lecture (PDF)
Read the excerpt of Rodrik’s talk in the IWM Post, the Magazine of the Institute for Human Sciences (p. 10) 
Detailed Program Polanyi Lectures (PDF)
Karl Polanyi und die falsche Wende der Globalisierung – Paulo Freire Institute Austria 
(German only) 






Kari Polanyi Levitt: A West Indian from Eastern Europe

Development Lecture ÖFSE – Austrian Research Foundation for International Development 

Kari Polanyi Levitt, renowned Canadian development economist and daughter of Karl Polanyi, visited Vienna to participate at the foundation of the International Karl Polanyi Society in May 2018. On this occasion, she gave a lecture at the 14th ÖFSE Development Lecture on the challenges for development economics in the age of neoliberal globalization. Kari Polanyi Levitt received an award for her lifetime achievements by the City of Vienna. 

Watch a recording of the whole lecture here:

Kari Polanyi was born in Vienna, where she spent most of her childhood. Her father went into exile in 1933, Kari in 1934 and her mother Ilona, an anti-fascist activist, in 1936. Many central-european intellectuals followed them into exile to Great Britain. Once arrived, they quickly became part of an innovative milieu of expatriates and the british elite, who not only changed economics through the Keynesian Revolution, but also did an important job on development politics.

Read the opening speech, held by Andreas Novy, here: