Economic systems shape social structures from "summary" of The Great Transformation by Karl Polanyi
Karl Polanyi argues that economic systems play a pivotal role in shaping social structures within societies. According to Polanyi, economic activities are not isolated entities but are deeply intertwined with the broader social fabric. He emphasizes that the organization of economic life has profound implications for the organization of society as a whole. In dissecting the relationship between economic systems and social structures, Polanyi highlights the transformative nature of capitalism. He contends that the rise of market economies in the 19th century led to significant changes in social relations, as individuals became increasingly integrated into the market system. This shift from traditional forms of economic organization to market-based economies had far-reaching consequences for social hierarchies and cultural norms. Polanyi further argues that the commodification of goods and la...
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