Jonathan Hopkin's “When Polanyi Met Farage: Market Fundamentalism, Economic Nationalism, and Britain’s Exit from the European Union”:

Theoretical Framework:

Hopkin shares Karl Polanyi's theory of the "double movement" to analyze Brexit, arguing that the UK's exit from the EU reflects tensions between market fundamentalism and societal demands for protection against market disruptions.

Polanyi's concept explains how unregulated markets provoke counter-movements seeking to restore social stability, exemplified in Brexit's

Market Fundamentalism's Role in Brexit:

Since the 1980s, the UK embraced neoliberal economic policies characterized by deregulation, privatization, and austerity measures.

These policies disproportionately harmed low-income and industrial regions, fostering economic inequality and social dislocation, particularly in areas reliant on traditional manufacturing.

Economic Nationalism and Cultural Backlash:

Brexit capitalized on discontent with globalization by framing EU membership as a threat to British sovereignty, jobs, and identity.

Populist leaders, such as Nigel Farage, linked economic grievances to issues like immigration and cultural erosion, creating a nationalist narrative appealing to marginalized voters.

Brexit as a Counter-Movement:

rexit represented a revolt against global capitalism's destabilizing effects, integrating both left-wing economic critiques and right-wing cultural anxieties.

This response demonstrates the convergence of economic and cultural factors in shaping political discontent.

Contradictions in Brexit's Political Coalition:

Hopkin highlights contradictions within the Brexit coalition:
-Market fundamentalists sought deregulation and economic openness.
-Economic nationalists advocated for protectionist policies and state intervention to safeguard domestic industries.

These conflicting goals create challenges for post-Brexit governance and policy-making.

Broader Implications:

Brexit reflects broader trends in Western democracies, where economic inequality and cultural anxieties are destabilizing traditional political alignments.

The case underscores the need for governments to address the socioeconomic dislocations caused by globalization and neoliberal policies.