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‘One of the most powerful books in the social sciences ever written’ Thomas Piketty'The twentieth century's most prophetic critic of capitalism' Prospect‘Polanyi’s revolutionary work is a must-read’ Mariana MazzucatoKarl 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 E. StiglitzWith a new introduction by Gareth Dale

At a recent meeting of the World Economic Forum in Davos, it was reported that a ghost was haunting the deliberations of the assembled global elite - that of the renowned social scientist and economic historian, Karl Polanyi. In his classic work, The Great Transformation, Polanyi documented the impact of the rise of market society on western civilization and captured better than anyone else the destructive effects of the economic, political and social crisis of the 1930s. Today, in the throes of another Great Recession, Polanyi’s work has gained a new significance. To understand the profound challenges faced by our democracies today, we need to revisit history and revisit his work. In this new collection of unpublished texts - lectures, draft essays and reports written between 1919 and 1958 - Polanyi examines the collapse of the liberal economic order and the demise of democracies in the inter-war years. He takes up again the fundamental question that preoccupied him throughout his work - the place of the economy in society - and aims to show how we might return to an economy anchored in society and its cultural, religious and political institutions. For anyone concerned about the danger to democracy and social life posed by the unleashing of capital from regulatory control and the dominance of the neoliberal ideologies of market fundamentalism, this important new volume by one of the great thinkers of the twentieth century is a must-read.

At a recent meeting of the World Economic Forum in Davos, it was reported that a ghost was haunting the deliberations of the assembled global elite - that of the renowned social scientist and economic historian, Karl Polanyi. In his classic work, The Great Transformation, Polanyi documented the impact of the rise of market society on western civilization and captured better than anyone else the destructive effects of the economic, political and social crisis of the 1930s. Today, in the throes of another Great Recession, Polanyi’s work has gained a new significance. To understand the profound challenges faced by our democracies today, we need to revisit history and revisit his work. In this new collection of unpublished texts - lectures, draft essays and reports written between 1919 and 1958 - Polanyi examines the collapse of the liberal economic order and the demise of democracies in the inter-war years. He takes up again the fundamental question that preoccupied him throughout his work - the place of the economy in society - and aims to show how we might return to an economy anchored in society and its cultural, religious and political institutions. For anyone concerned about the danger to democracy and social life posed by the unleashing of capital from regulatory control and the dominance of the neoliberal ideologies of market fundamentalism, this important new volume by one of the great thinkers of the twentieth century is a must-read.

One of the twentieth century's most important pieces of social and economic theory, highlighting the rise and reality of capitalism as it shaped our world A limited Beacon Classics edition In this classic work of economic history and social theory, Karl Polanyi tracks the economic and social changes brought about by the "great transformation" of the Industrial Revolution. He pays particular attention to capitalism's rise and its role in fundamentally altering life after the Industrial Revolution. While previous economic arrangements were embedded within social relations, capitalism reverses this: social relations are defined by economic relations. This seminal analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. In an era of ever-increasing globalization and free trade, Polanyi's cogent historical, social, and economic analysis offers grounded insight into the inner workings of the modern world. Polanyi suggests that capitalism is a historical anomaly. The rules of reciprocity, redistribution and communal obligations were far more consistent as guiding principles of exchange than market relations throughout human history. Capitalism, however, does not exhibit these obligations, and in fact its rise irreversibly destroyed them. The true "great transformation" of the industrial revolution was to completely replace all modes of interaction with capitalism and market relations, forever altering the function, and result, of human relations. Now with a new hardcover package, this treatise from one of the greatest thinkers of the 20th century will illuminate seminal economic and social theory for fans old and new.

One of the twentieth century's most thorough and discerning historians, Karl Polanyi sheds "new illumination on . . . the social implications of a particular economic system, the market economy that grew into full stature in the nineteenth century." -R. M. MacIver

Few figures are more crucial to understanding the upheavals of our contemporary era than Karl Polanyi. In a world riven by social and economic crises, from rising inequality to the decay of democratic institutions and profound technological disruption, Polanyi’s path-breaking account of the dynamics of market capitalism and his defence of society and nature against the dangerous tendencies of the market capitalist system are more relevant than ever. This book brings together Polanyi’s most important articles and essays to give a unique selection of his essential shorter writings, mixing classic texts with significant but previously little-known pieces. It highlights the coherence and richness of Polanyi’s theoretical and political approach, making it indispensable for understanding his overarching intellectual contribution. The volume includes his interwar writings, which deal with the world economic crisis and the socialist alternative to conservative and fascist developments; his reflection on political theory and the international situation after the war; and his comparative studies of economic institutions. Polanyi’s political writings are complemented and supported by the critique of economic determinism and what he termed ‘our obsolete market mentality’. This book is an invaluable companion to Polanyi’s masterpiece, The Great Transformation, and an essential resource for students and scholars of political economy, sociology, history and political philosophy.

Few figures are more crucial to understanding the upheavals of our contemporary era than Karl Polanyi. In a world riven by social and economic crises, from rising inequality to the decay of democratic institutions and profound technological disruption, Polanyi’s path-breaking account of the dynamics of market capitalism and his defence of society and nature against the dangerous tendencies of the market capitalist system are more relevant than ever. This book brings together Polanyi’s most important articles and essays to give a unique selection of his essential shorter writings, mixing classic texts with significant but previously little-known pieces. It highlights the coherence and richness of Polanyi’s theoretical and political approach, making it indispensable for understanding his overarching intellectual contribution. The volume includes his interwar writings, which deal with the world economic crisis and the socialist alternative to conservative and fascist developments; his reflection on political theory and the international situation after the war; and his comparative studies of economic institutions. Polanyi’s political writings are complemented and supported by the critique of economic determinism and what he termed ‘our obsolete market mentality’. This book is an invaluable companion to Polanyi’s masterpiece, The Great Transformation, and an essential resource for students and scholars of political economy, sociology, history and political philosophy.

Denna bok är den klassiska skildringen av det liberala marknadssamhällets uppgång och fall från slutet av 1700-talet till det andra världskriget ("The great transformation", ursprungligen utgiven 1944). "Den stora omdaningen" avser den omvälvning av samhällslivet som ekonomins tillväxt och förändring medför, via uppkomsten av marknader för pengar, arbetskraft, produktionsmedel, varor och mark. Polanyi kritiserar tanken att de frikopplade marknaderna är ett naturligt socialt tillstånd. De är för honom varken eviga eller spontant framvuxna lösningar. Iscensättandet av den liberala utopin -- att marknaderna automatiskt kan reglera samhällens och människors väl och ve -- krävde tvärtom politiska ingrepp och lagändringar av gigantisk omfattning. Polanyi visar sedan hur dessa fria marknader åter infogas och underordnas samhällets styrning. Inskränkningen av marknadernas självständighet var för Polanyi en naturlig åtgärd, ett samhällets spontant framvuxna skydd. "Den stora omdaningen" är en personlig tolkning av ett avgörande historiskt skeende, och boken förmedlar en världsbild,en vision, som betonar samhälleliga institutioners relativitet, handlandets moraliska grundvalar och en misstro mot all utvecklingsmetafysik. Gunnar Olofssons inledning lyfter fram centrala och viktiga teman i Polanyis arbete och skildrar hans bakgrund och insats.

Miten syntyi rahan hallitsema maailma?"Suuri murros" kuvaa, kuinka vapaat markkinat syntyivät ja kehittyivät 17001900-luvuilla. Teos auttaa hahmottamaan vaihtoehtoja vallitsevalle talousajattelulle: se muistuttaa, että markkinat kaipaavat sääntelyä, sillä ne toimivat lyhytnäköisesti. Niiden täydellisen vapauden hinta on epäoikeudenmukaisuus ja viattomien kärsimys.Polanyin mukaan suuri murros sai alkunsa Englannissa. 1800-luvun alussa pappien ja sotilaiden hallitsema maailma muuttui kauppiaiden johtamaksi. Raha alkoi jäsentää ihmisten ja yhteiskunnan toimintaa. Kauppiaiden maailmassa keskeiseen asemaan nousivat markkinat. Siinä maailmassa me elämme edelleen.Karl Polanyi (18861964) oli unkarilaissyntyinen taloushistorioitsija. Vuonna 1944 ilmestynyt "Suuri murros" on hänen yrityksensä ymmärtää 1900-luvun sotia ja hirmutöitä fasismi oli hänen mielestään reaktio markkinatalouden kriisiin.