Karl Polanyi's landmark 1944 work is one of the earliest and most powerful critiques of unregulated markets. Tracing the history of capitalism from the great transformation of the industrial revolution onwards, he shows that there has been nothing 'natural' about the market state. Instead of reducing human relations and our environment to mere commodities, the economy must always be embedded in civil society. Describing the 'avalanche of social dislocation' of his time, Polanyi’s hugely influential work is a passionate call to protect our common humanity.
Karl Polanyi (1886-1964) is considered one of the twentieth century's most prophetic and perceptive economic historians. He left his native Austria with the rise of fascism and became a British citizen. During his academic career he taught at Bennington College, the University of Oxford, and the University of London, and wrote The Essence of Fascism, The Great Transformation, and (with A. Rotstein) Dahomey and the Slave Trade.
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