Economic liberalism undermines social fabric from "summary" of The Great Transformation by Karl Polanyi
In examining the impact of economic liberalism on society, it becomes evident that the pursuit of profit and self-interest at the expense of social cohesion can have profound consequences. When economic activity is driven solely by market forces without regard for the well-being of individuals or communities, the social fabric that binds people together begins to unravel. The commodification of labor and land, as advocated by proponents of economic liberalism, leads to the erosion of traditional social relationships and values. People are reduced to mere factors of production, valued only for their ability to generate profit. This commodification not only devalues human life but also disrupts the delicate balance of social relations that sustain...
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