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Polanyi was not a conventional economist but was instead concerned with the development of an overall view of the functioning of economic relationships within different social frameworks.
At the core of his project is the paradoxical nature of modern attention, which was both a fundamental condition of individual freedom, creativity, and experience and a central element in the efficient functioning of economic and disciplinary institutions as well as the emerging spaces of mass consumption and spectacle.
Effective functioning of economic entities requires ensuring the maximum mobility and in this connection availability of transport infrastructure is very significant.
Cultural values, shared resources, linkages, and mutual trust work for the community, nurtured through close personal relations for the functioning of economic activities.
The Communication is based on an extensive report drawn up by the Commission's Directorate-General for Economic and Financial Affairs, which provides a detailed analysis of the functioning of Economic and Monetary Union and the impact of the euro over the last ten years, as well as analysing the prospects for the future.
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The federal deficit is a worry, but it is largely a function of economic activity, too.
As the US economic sage JK Galbraith famously put it: "The only function of economic forecasting is to make astrology look respectable".
That is partly a function of economic anxieties reminiscent of the early 1990s, which helped Bill Clinton break the Republicans' general election hold on the nation's largest state.
And where states are stronger — like Russia, China and Iran — we have less leverage because leverage is ultimately a function of economic strength.
Most Democrats, after all, persist in embracing populism as it existed in the early part of the last century — that is, strictly as a function of economic inequality.
PHILIPPE STEPHENSON Montreal, Nov. 6, 2012 The political inequality in the United States that the writers highlight is largely a function of economic inequality.
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CEO of Professional Science Editing for Scientists @ prosciediting.com