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The Great Transformation--Its Relevance Continues
American Journal of Economics and Sociology (1994)
  • Dan Brook
The article presents an account of the book "The Great Transformation: The Political and Economic Origins of Our Time," by Karl Polanyi. The book presents an analysis of the history of the rise and fall of the nineteenth century market society. In doing so, author of the book, Polanyi, adeptly illuminates the politico-economic antecedents and consequences of that market society. Where the primary cause of market society appears to be a conscious state action in conjunction with business interests, the most significant result, in the twentieth century, is fascism with its inherently deadly dynamics. Polanyi explains the rise and fall of market society and in doing so foreshadows the fall of capitalism, as well. Polanyi seeks, and, at least implicitly, predicts the collapse of market systems, which control society. For Polanyi, the market society must be replaced by a society with democratic control of both political and economic institutions. These institutions can no longer control society, but should instead be controlled by the society.
  • markets- social aspects,
  • communism and society,
  • political doctrines,
  • economic structure
Publication Date
October, 1994
Publisher Statement
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Citation Information
Dan Brook. "The Great Transformation--Its Relevance Continues" American Journal of Economics and Sociology Vol. 53 Iss. 4 (1994) p. 401 - 432 ISSN: 0002-9246
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