By the same authors

From the same journal

Karl Polanyi on strategy: the effects of culture, morality and double-movements on embedded strategy

Research output: Contribution to journalArticlepeer-review

Full text download(s)

Published copy (DOI)



Publication details

JournalCritical Perspectives on Accounting
DateAccepted/In press - 31 May 2018
DateE-pub ahead of print - 31 Mar 2020
DatePublished (current) - 1 Dec 2020
Number of pages13
Pages (from-to)102171
Early online date31/03/20
Original languageEnglish


Karl Polanyi is arguably one of the most significant economic sociologists. At first glance the links between Polanyi’s ideas about markets, society and institutions and strategy may not be obvious. However, there is a hereto unrecognised link between recent writing about institutions and strategy and Polanyi’s work. In this paper we, therefore, chart how, when recognised, these links reveal that Karl Polanyi’s work might provide new ways of thinking about strategy. Our over-riding claim is that Polanyi’s ideas reveal the importance of considering how strategies are defined, responded to, and ultimately rendered effective or ineffective in ways that are determined by relationships between markets, the state and society. It is thus crucial to understand strategy as embedded, this implying consideration of a strategy’s legitimacy in economy and society as an instituted process at any particular place and time. This also implies wider political questions about strategy in society and the extent to which strategists need to be aware of the ‘double movement’ Polanyi discusses and ensure strategies serve the interests of society as well as those of the market.

Bibliographical note

© 2020 Elsevier Ltd. This is an author-produced version of the published paper. Uploaded in accordance with the publisher’s self-archiving policy.

Discover related content

Find related publications, people, projects, datasets and more using interactive charts.

View graph of relations