The Great Transformation

In "The Great Transformation," Karl Polanyi challenges our understanding of market economies and their impact on society. This groundbreaking work explores the profound shifts that occurred during the Industrial Revolution, revealing how the rise of free-market capitalism disrupted traditional social structures and led to unprecedented economic and political upheaval. Polanyi argues that the attempt to create a self-regulating market system was a utopian project doomed to failure, as it ignored the fundamental importance of social relationships and institutions in human society. Through his analysis of economic history, Polanyi offers a compelling critique of classical liberal economic theory and provides valuable insights into the complex interplay between markets, governments, and society.

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