Economic transformations impact social relations from "summary" of The Great Transformation by Karl Polanyi
Economic transformations have a profound impact on social relations. When markets are allowed to dictate all aspects of society, individuals become commodities themselves. In such a system, everything, including labor, land, and money, is treated as a commodity to be bought and sold for a price. This commodification of society leads to a breakdown of traditional social bonds and values. Relationships that were once based on mutual trust and reciprocity are now driven by monetary gain. This shift in values can have far-reaching consequences, as individuals are forced to adapt to a new way of life based solely on economic principles. More...
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