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one of the book’s enduring contributions — its focus on the institutions that regulate the global economy — was directly linked to Polanyi’s multiple… - Karl Polanyi
" "one of the book’s enduring contributions — its focus on the institutions that regulate the global economy — was directly linked to Polanyi’s multiple exiles. His moves from Budapest to Vienna to England and then to the United States, combined with a deep sense of moral responsibility, made Polanyi a kind of world citizen.
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About Karl Polanyi
Karl Paul Polanyi (October 25, 1886 – April 23, 1964) was a Hungarian-American economic historian, economic anthropologist, political economist, historical sociologist and social philosopher.
Biography information from Wikiquote
Also Known As
Native Name:
Polányi Károly
Alternative Names:
Károly Pollacsek
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Karoly Pollacsek
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Karl Paul Polanyi
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Polanyi Karoly
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Additional quotes by Karl Polanyi
In the half-century 1879–1929, Western societies developed into close-knit units, in which powerful disruptive strains were latent. The more immediate source of this development was the impaired self-regulation of market economy. Since society was made to conform to the needs of the market mechanism, imperfections in the functioning of that mechanism created cumulative strains in the body social. Impaired self-regulation was an effect of protectionism.
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