Societal wellbeing dependent on economic stability from "summary" of The Great Transformation by Karl Polanyi
Societal wellbeing is inextricably linked to the stability of the economy. When the economic system is in turmoil, the very fabric of society is threatened. As Karl Polanyi argues, a society cannot thrive if its economic foundations are shaky. The well-being of individuals, families, and communities is intimately tied to the health of the economy. In a society where economic stability is lacking, people are vulnerable to the whims of the market. They may find themselves without jobs, without access to basic necessities, and without a sense of security. This insecurity can lead to social unrest, as people struggle to make ends meet and to provide for themselves ...
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