 The Great Transformation: The Political and Economic Origins of Our Time by Karl Polanyi
In Polanyi's classic work of economic history and sociology, he examines societal changes since the Industrial Revolution and expertly explains the inadequacies of the free market. Published in 1944, it is as relevant as today as ever, with Harvard Professor Stephen Walt recommending it in his Top 10 books for International Relations students as it explains the political, economic and social changes that shaped the modern world.
In this classic work of economic history and social theory, Karl Polanyi analyzes the economic and social changes brought about by the "great transformation" of the Industrial Revolution. His analysis explains not only the deficiencies of the self-regulating market, but the potentially dire social consequences of untempered market capitalism. New introductory material reveals the renewed importance of Polanyi's seminal analysis in an era of globalization and free trade.
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