1. Key Theories of Market Society
Polanyi builds his argument by defining the foundation for free market economies. ... 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. ... Polanyi argues that negative consequences are inevitable from pursuing this utopian ideal as a struggle for resources in a resource-scarce world will ultimately lead to demise of nature and effectively human society. This presents a surprisingly relevant model that can be applied to economies of today. ... When Polanyi's theory is ext...
- Word Count: 1246
- Approx Pages: 5
- Has Bibliography
- Grade Level: Graduate