Market expansion disrupts traditional economies from "summary" of The Great Transformation by Karl Polanyi
The process of market expansion has a profound impact on traditional economies. As markets grow and extend their reach, they inevitably come into contact with pre-existing economic structures that are based on different principles. These traditional economies are often centered around social relationships, reciprocity, and shared values, rather than the impersonal forces of supply and demand that govern market exchange. When market forces collide with these traditional economic systems, the result is often disruption and dislocation. The values and norms that have guided economic behavior in a community for generations are suddenly upended by the profit motive and the pursu...
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