Polanyi's (1957 [1944]) stands as a towering analysis of the industrial revolution and a powerful social warning against social and natural damage driven by the pursuit of maximal economic value. Polanyi envisioned that the 'discovery of society', due to its radical neglect during the industrial revolution, led to this new social knowledge resulting in the end of and the self-regulating market. Yet, the most recent phase of the industrial revolution, the digital phase, suggests that many of the same failures to manage industrial revolutions are occurring again. In particular, looking at the emerging digital economy through the prism of Polanyi's social theory, this article argues that the changes driven by the digital economy, specifically in terms of the reshaping of attention and sociality and the increasing potential for 'normal catastrophes', suggests that Polanyi's lesson of the destructive power of the self-regulating market is again being neglected.

Emancipation serves not only as a midwife for progressive agendas such as greater equality and sustainability but also as their gravedigger. This diagnosis underpins Ingolfur Blühdorn's 'dialectic of emancipation', which depicts a dilemma but offers no perspective on how to deal with it. By drawing on Foucault, this article suggests conceiving of emancipation as a task moderns are confronted with a given emancipatory project has come to devour its children. Claiming autonomy from given social constellations is key to this task; key also is judging between legitimate and illegitimate claims to autonomy. In late modernity, the criteria for such judgement are no longer universally given. Instead of regarding the latter as entry into mere subjectivism (Blühdorn), this article presents judgement as a key political, 'world building'-activity (Arendt), a social theory may join in, by not only observing the world but by also taking sides in it.