Why this book?
Some critics argue that Polanyi got 19th-century English history wrong, but his argument that the capitalist economy is “disembedded” from the social system and is focused only on growth and more capital seems spot on.
The attempt to turn everything into a commodity will mean the wrack and ruin of the earth and its inhabitants. Not quite Polanyi’s words but, 80 years later, ever closer to what is happening.
The Great Transformation: The Political and Economic Origins of Our Time
Why should I read it?
11 authors picked The Great Transformation as one of their favorite books, and they share why you should read it.
What is this book about?
In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution. His analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. New introductory material reveals the renewed importance of Polanyi's seminal analysis in an era of globalization and free trade.