83 pages • 2 hours read
Karl PolanyiThe Great Transformation
Nonfiction | Book | Adult | Published in 1944A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality Study Guides with detailed chapter summaries and analysis of major themes, characters, and more.
Before You Read
Super Short Summary
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.
Reviews & Readership
Review Roundup
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.
Who Should Read The Great Transformation?
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.