Karl Polanyi
| Karl Polanyi | |
|---|---|
| Born | October 25, 1886 Vienna, Austro-Hungarian Empire |
| Died | April 23, 1964 (aged 77) Pickering, Ontario Canada |
| Field | Economic sociology, Economic history, Economic anthropology |
| School or tradition |
Historical school of economics |
| Influences | Robert Owen, Bronisław Malinowski, G. D. H. Cole, Richard Tawney, Richard Thurnwald, Karl Marx, Aristotle, Karl Bücher, Ferdinand Tönnies, Adam Smith, Alfred Radcliffe-Brown, Werner Sombart, Max Weber, György Lukács, Carl Menger |
| Influenced | Mark Granovetter, Joseph Stiglitz, Moses Finley, Fred L. Block, David Graeber, Margaret Somers, Marshall Sahlins, Robin Hahnel, Giovanni Arrighi, Kari Polanyi Levitt, Dani Rodrik, Jacob Hacker, John Gray, Daniel Bell, James C. Scott, Ira Katznelson, Herman Daly, Tom Malleson, Samuel Bowles, Herbert Gintis, Ayşe Buğra, Immanuel Wallerstein, Peter Drucker, Regulation school, Arthur Koestler |
| Contributions | Embeddedness, Substantivism, Double Movement, Fictitious commodities, Economistic fallacy |
Karl Paul Polanyi (Hungarian: Polányi Károly [ˈpolaːɲi ˈkaːroj]; born October 25, 1886, Vienna, Austro-Hungarian Empire – April 23, 1964, Pickering, Ontario) was an Austro-Hungarian economic historian, economic anthropologist, economic sociologist, political economist, historical sociologist and social philosopher. He is known for his opposition to traditional economic thought and for his book, The Great Transformation, which argued that the emergence of market-based societies in modern Europe was not inevitable but historically contingent. Polanyi is remembered today as the originator of substantivism, a cultural approach to economics, which emphasized the way economies are embedded in society and culture. This view ran counter to mainstream economics but is popular in anthropology, economic history, economic sociology and political science.
Polanyi's approach to the ancient economies has been applied to a variety of cases, such as Pre-Columbian America and ancient Mesopotamia, although its utility to the study of ancient societies in general has been questioned. Polanyi's The Great Transformation became a model for historical sociology. His theories eventually became the foundation for the economic democracy movement. His daughter, Canadian economist Kari Polanyi Levitt (born 1923 in Vienna, Austria), is Emerita Professor of Economics at McGill University, Montreal.
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