POLANYI’S UNORTHODOX CONTRIBUTION TO THE STUDY OF FASCISM

This chapter explores Karl Polanyi’s unique and underrecognized contribution to the study of fascism. Our synthesis of Polanyi’s writings on the subject centres around two themes: (1) fascism as an anti-individualist political philosophy that blends forms of vitalist and totalitarian thought in the blueprint of the corporatist state, and (2) fascism as a political force that responded to the institutional needs of market-based society during the depression of the 1930s. Polanyi engages with and transcends both liberal and Marxist understandings of fascism, inviting readers to consider how fascism’s socially epochal effects interact with its raison of preserving the existing capitalist system. Polanyi views fascism as an “ever given possibility” under market capitalism, arguing that fascism’s success depends more on decisions made by capitalist elites rather than its degree of mass support. In a larger sense, Polanyi locates fascism within an inherent antagonism between capitalist economics and democratic forms of government. In doing so, he provides a framework for interpreting politically relevant forms of neo-fascism today.