Planning and the Politics of Markets: Some Lessons from Financial Regulation in Nepal

Rankin, Katharine N.

doi:10.1080/13563470120026550

Cited by 3 publications

(1 citation statement)

References 18 publications

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“…Polanyi's work speaks persuasively about the nature of land, markets and state regulation in ways that should appeal to advocates of urban planning (Sternberg, 1993). Despite engagement with his work in cognate disciplines -notably economic geography, political economy and economic sociology (Block and Somers, 2014;Blyth, 2002;Peck, 2013aPeck, , 2013b) -mentions of Polanyi in the urban planning literature are sparce and more often in passing, typically as a rejoinder to neoliberalism's market fundamentalism rather than more thoroughgoing applications of his thought -although some notable exceptions do exist (see Low, 2002;Rankin, 2001;Roy, 2008;Sternberg, 1993).…”

Section: Introductionmentioning

confidence: 99%

Embedding the land market: Polanyi, urban planning and regulation

Shepherd,

Wargent

2023

Environ Plan A

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How land markets should be regulated is a fraught political question. This paper argues that the heterodox political economy of Karl Polanyi – underutilised in urban studies and planning scholarship – provides a useful language to analyse the role of urban planning in development land markets. We ground our analysis in the concept of embeddedness, building on Polanyi’s core contention that economic behaviour is not, and cannot be, distinct from social, political and cultural relations. We juxtapose an account of the institutionalisation of urban planning in England during the mid-20th century with contemporary neoliberal reforms, analysing the dynamic reconfigurations in how development land markets have been differently embedded via the planning system in relation to a shifting political, ideological and economic environment. The paper foregrounds the co-constitutive nature of state regulation and markets, moving past the simplistic regulation-deregulation dichotomy frequently adopted to frame government intervention via the planning system.

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