Karl Polanyi (October 25, 1886 – April 23, 1964) was a Hungarian economic historian and social philosopher born in Vienna, Austria-Hungary. Known for his insightful analysis of market economies and social change, he made significant contributions to economic thought through his exploration of the relationship between society and economic systems.
"In this classic work of economic history and social theory, Karl Polonyi 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."--BOOK JACKET.