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परिचय

Polanyi wrote “The Great Transformation” at Bennington College in Vermont between 1940 and 1943, drawing on his lectures on English economic history; it was published in New York in 1944, the same year as Hayek’s “The Road to Serfdom”. The book begins with the collapse of the nineteenth-century order – balance of power, gold standard, liberal state – and traces it back to the self-regulating market, whose creation in England since the late eighteenth century, from the Speenhamland system to the New Poor Law of 1834, it reconstructs. Treating labour, land and money as commodities, Polanyi argues, threatens to destroy society and nature; society responds with protective countermovements, and the deadlock between the two led to fascism. Long little read by economists, the book has been widely discussed again since the debates on globalisation and the financial crisis of 2008.

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• द थ्री वर्ल्ड्स ऑफ़ वेल्फ़ेयर कैपिटलिज़्म1990 · ग्योस्ता एस्पिंग-एंडरसन