The Great Transformation by Karl Polanyi, first published in 1944, explores the social and economic upheavals of the Industrial Revolution, critiquing the fallacies of self-regulating markets and market liberalism. Polanyi argues that these markets necessitate government intervention, leading to paradoxes and social instability, and he envisions socialism as a preferable alternative to fascism. The work highlights the contradictions within market liberalism and stresses the importance of government in protecting citizens from market forces.

Karl Polanyi's The Great Transformation is lauded for its insightful critique of market economies and social impacts, blending historical analysis with economic theory. Readers appreciate its depth and relevance, though some find its dense prose challenging. Overall, it remains a seminal work for understanding modern economic and social shifts.

Readers who would enjoy The Great Transformation by Karl Polanyi are typically scholars, economists, and history enthusiasts interested in the social impacts of market economies. Comparable books include Adam Smith's The Wealth of Nations and John Maynard Keynes' The General Theory of Employment, Interest, and Money.

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Karl Polanyi

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Foreword & Introduction

The Great Transformation Foreword & Introduction Summary & Analysis

Part 1: “The International System”

Part 1 The Great Transformation Part 1 Summary & Analysis

Part 2: “Rise and Fall of Market Economy”, Section 1: “Satanic Mill”

Part 2, Section 1

The Great Transformation Part 2, Section 1 Summary & Analysis

Part 2: “Rise and Fall of Market Economy”, Section 2: “Self-Protection of Society”

Part 2, Section 2

The Great Transformation Part 2, Section 2 Summary & Analysis

Part 3 The Great Transformation Part 3 Summary & Analysis

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The Great Transformation

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