About the book
Hungarian political economist Karl Polanyi argues that the market economy and the modern nation-state grew up together as a single invention, a whole he names the Market Society. Begun in England in the late 1930s and completed in America while World War II was under way, the book traces how industrialization replaced older economies built on reciprocity and redistribution with markets that put prices on land and labor. Much of his evidence comes from England's Speenhamland laws. Polanyi holds that markets are embedded in social and political life and cannot be explained by economic theory alone, a view that made the work a key text in political economy. It first appeared in 1944.
Satya Nadella has said his father recommended it to him long ago, and it appears on a published list of seven books the Microsoft chief executive recommends.
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This book has 1 recommendation
Satya Nadella (CEO/Microsoft)
"My father recommended this book long ago,” says Nadella of the 1944 classic by a Hungarian-American writer who chronicles the development of England’s market economy and argues that society should drive economic change.
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