A spontaneous fictitious backlash occurs in order to protect nature and economic resources from commodification of market units. ... The natures of markets prior to the industrial revolution and the emergence of the capitalist economy where markets in which market prices were determined more by adherence to social, religious and political normative forces than forces of competition in trade (Polanyi; 1994). ... Polanyi postulates the "double movement" that will exist in the real economic world as a counter-balance in response to this this free – market liberalism system. ... In the con...

• Word Count: 1246
• Approx Pages: 5
• Has Bibliography
• Grade Level: Graduate