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The Great Transformation Summary

Karl Polanyi

The Great Transformation

by Karl Polanyi

The Great Transformation

Karl Polanyi

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The Great Transformation by Karl Polanyi is an essential work of economic history and social theory which deals with the great social and economic changes that followed the Industrial Revolution.

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The Great Transformation

by Karl Polanyi

The Great Transformation

Karl Polanyi

Overview

The Industrial Revolution was a turning point in human history that influenced all aspects of society. During the 18th and 19th centuries, Western Europe and the U.S. transitioned into mechanical manufacturing, which led to rapid production and population growth. It also brought about a rise in poverty, unemployment, and widened the gap between economically developed countries and the rest of the world. These changes to the world's economy still impact our lives today.

Karl Polanyi was a Hungarian-American political economist and economic historian who influenced the field of historical sociology and a new understanding of the market economy.

The Great Transformation, published in 1944, is Polanyi's most famous work. In the book, Polanyi explains how the Industrial Revolution changed the economic paradigms of society.

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Favorite Quote

"The outstanding discovery of recent historical and anthropological research is that man's economy, as a rule, is submerged in his social relationships."

Karl Polanyi

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The Great Transformation

Karl Polanyi

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