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Masking Neo-Liberal Development: Polanyi, Rule Of Law And Dis-Embedding Dynamics, Mark Findlay

Research Collection Yong Pung How School Of Law

Purpose: Polanyi in his analysis of market dis-embedding suggests a drift in economic relations from the social to the fictitious. The purpose of this paper is to add two crucial components to the dis-embedding dynamic: rule of law discourse as a market force away from the social, and through suspension of imagination and of disbelief, the incongruous compatibility of actual and fictional markets that further works against embedding.Design/methodology/approach: Theory building through the application and testing of the Polanyian market dis-embedding analysis is a central concern for the paper. Through the example of foreign direct investment (FDI) and the manner in …