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★★★★★ 5
Must read for contemporary (and all) times.
Format: Paperback
This is a great book. I wonder why we were not taught this in the freshman year, or at least as a counterpoint to Econ101. It opens up the perspective to seeing culture, economics, politics, and technology in an integrated way with an emphasis on social choesion as a unifying fabric for humanity and, looking for the right rate of economic reform. Much of what we do as "development" can in fact be harmful in the long (also short) run if we are not sensitive to the premises Polanyi is alerting us to. This is not counterpoint or counterfactual thesis per se. I am a strong proponent of the market system and also realize that this system is subsumed and must be complementary to the larger, complex social system where things are interconnected. An effective policy can only result from the collective consideration of these together. Polanyi's writing style is clear, direct, and simple and, unlike deeply nomenclature-intense economics write-ups, this book is rather an easy read. When we prescribe/teach The Industrial Revolution as an essential or secondary reading, The Great Transformation should also be a companion reading.
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Reviewed in the United States on September 6, 2013
