The Great Wave

In The Great Transformation, Karl Polanyi explores the development of the modern market economy. He argues that it's not a natural progression of human society, but a product of deliberate actions and policies. This is a great chance to dig into the roots of our economic system.

Polanyi emphasizes the role of the state in creating and maintaining the market economy. He suggests that without state intervention, the market system would self-destruct. If you're interested in the relationship between government and economy, this book is a must-read.

One of the key concepts in the book is the 'double movement'. Polanyi describes how society pushes for increased marketization, then pulls back to protect itself from the market's destructive effects. This concept can help us understand the constant tension in our economic system.

The Great Transformation is a critique of economic liberalism. Polanyi argues that the belief in a self-regulating market is a myth. He believes that this myth has led to social and economic instability. If you're looking for a different perspective on economic theory, you should definitely check this book out.

Polanyi provides a historical perspective on the rise of the market economy, tracing its origins back to the Industrial Revolution. He shows how economic changes have impacted society and culture. This book is a great resource if you want to research the history of economic thought.