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Chapters
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Seattle Protests and Economic Crises
- The 1999 Seattle protests against the World Trade Organization signaled a shift in public sentiment towards free market policies.
- The subsequent economic crises in Asia, Russia, and Latin America further fueled this discontent.
Disembedded Economies
- Karl Polanyi argued that modern market economies are unique because they are "disembedded" from society.
- In previous societies, the economy was integrated into social relations, but in market societies, the economy drives society.
Polanyi's Family Background
- Karl Polanyi's father, Michael Polanyi, came from a prosperous Hungarian Jewish family.
- His mother, Cecile Wohl, came from an assimilated Jewish family in Vilna.