Karl Polanyi
Karl Paul Polanyi was an Austro-Hungarian scholar known for his opposition to traditional economic thought.
His seminal work, "The Great Transformation," argued that market-based societies in modern Europe were not inevitable.
Polanyi developed substantivism, a cultural approach to economics emphasizing how economies are embedded in society and culture.
His ideas gained popularity in anthropology, economic history, and political science.
Polanyi's work has been applied to various historical contexts and became a model for historical sociology.
His theories laid the foundation for the economic democracy movement.
Polanyi's daughter, Kari Polanyi Levitt, is an Emerita Professor of Economics at McGill University.
