The Great Transformation

Karl Polanyi traces the rise of capitalism in England and beyond to challenge the idea that laissez-faire economics is natural or inevitable. Written in response to the upheavals of the twentieth century, the work argues that markets are always shaped by society, human needs, and human relations.

Readers interested in social science, economic history, and the origins of modern capitalism will find a clear and forceful account of how market systems affect public life. The result is a classic statement on freedom, social dislocation, and the place of the economy within society.