Pedagogy and incoherence: lessons from Karl Polanyi

This article provides a critical and constructive analysis of the relevance of the work of Karl Polanyi to the development of a plural economy in the 21st century. In particular, the authors examine selected initiatives that reinforce this process. The authors confirm the contemporary significance of the complete works of Karl Polanyi that include less known writings published before and after The Great Transformation. Inspired by the influence of Polanyi's concepts of embeddedness and disembeddedness, the authors apply the Polanyi inspired concept of "instituted processes of economic democratization" to recent theoretical and applied approaches such as "transitional labour markets" and "the new public finance".