A fundamental methodological problem is the relevance of an antagonism of capitalism. This needs to be classified in light of the developmental stage of the means of production: far too little attention is paid to the contradictory character of individualization and socialization. This brings us to Karl Polányi’s main argument of disembedding. He also deals with a shift from the socially integrated (and dependent) individual to the utilitarian market citizen. The French regulationist theory offers a major step toward understanding new forms of societal embedding linked to this “new personality.” It will also allow us to move beyond the misleading juxtaposition or dichotomization of individualization-socialization. Investigating five major tensions, it ventilates the possible meaning of the digital revolution and the challenges for monitoring development. The main aim of the article, however, is to bring the economy back in and to go beyond the traditional duality between economics and politics.
Peter Herrmann, PhD, is a social philosopher and professor of economics. He has studied in sociology, economics, political science, and social policy and philosophy. He holds a venia for sociology and has worked internationally in the EU and globally.