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May 30, 2009

Review of Karl Polanyi's The Great Transformation

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Polanyi wrote The Great Transformation during World War II. With depression and war, the previous two decades had been a cataclysmic time for the planet. His central thesis was, "The origins of the cataclysm lay in the utopian endeavor of economic liberalism to set up a self-regulating market system." The book decisively pooh-poohs many of the myths of our ruling economic doctrine. Most importantly, he eviscerates the idea of

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Polanyi wrote The Great Transformation during World War II. With depression and war, the previous two decades had been a cataclysmic time for the planet. His central thesis was, "The origins of the cataclysm lay in the utopian endeavor of economic liberalism to set up a self-regulating market system." The book decisively pooh-poohs many of the myths of our ruling economic doctrine. Most importantly, he eviscerates the idea of

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