Karl Polanyi and the politics and economics of mass immigration
I’m not trained in economics but I do know a bit and have been intermittently digging through Karl Polanyi’s book ‘ The Great Transformation: The Political and Economic Origins of Our Time ; said to be a core text for Ed Miliband and his close political gang. Perhaps the most interesting and arresting ideas in The Great Transformation concern what Polanyi called the ‘ fictitious commodities’ : land, labour and money. I was reminded of this when reading a post by Chris Dillow on his Stumbling and Mumbling blog yesterday. Dillow's piece jumped off from the most read post on this blog – about how our immigration debate misses the main point by focusing only on economic aspects and treating how people feel as somehow illegitimate (something which is thankfully no longer the case – partly due to the excellent recent work of British Future ). In his fascinating argument to which I’ll digress for a while here, Dillow discusses how and why public opinion differs from ...