‘One of the most powerful books in the social sciences ever written. ... A must-read’ Thomas Piketty
The twentieth century s most prophetic critic of capitalism Prospect
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.
‘Polanyi s vision for an alternative economy re-embedded in politics and social relations offers a refreshing alternative’ Guardian
‘Polanyi exposes the myth of the free market’ Joseph Stiglitz
With a new introduction by Gareth Dale
About the Author
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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