Few figures are more crucial to understanding the upheavals of our contemporary era than Karl Polanyi. In a world riven by social and economic crises, from rising inequality to the decay of democratic institutions and profound technological disruption, Polanyi’s path-breaking account of the dynamics of market capitalism and his defence of society and nature against the dangerous tendencies of the market capitalist system are more relevant than ever. This book brings together Polanyi’s most important articles and essays to give a unique selection of his essential shorter writings, mixing classic texts with significant but previously little-known pieces. It highlights the coherence and richness of Polanyi’s theoretical and political approach, making it indispensable for understanding his overarching intellectual contribution. The volume includes his interwar writings, which deal with the world economic crisis and the socialist alternative to conservative and fascist developments; his reflection on political theory and the international situation after the war; and his comparative studies of economic institutions. Polanyi’s political writings are complemented and supported by the critique of economic determinism and what he termed ‘our obsolete market mentality’. This book is an invaluable companion to Polanyi’s masterpiece, The Great Transformation, and an essential resource for students and scholars of political economy, sociology, history and political philosophy.

Few figures are more crucial to understanding the upheavals of our contemporary era than Karl Polanyi. In a world riven by social and economic crises, from rising inequality to the decay of democratic institutions and profound technological disruption, Polanyi's path-breaking account of the dynamics of market capitalism and his defence of society and nature against the dangerous tendencies of the market capitalist system are more relevant than ever.This book brings together Polanyi's most important articles and essays to give a unique selection of his essential shorter writings, mixing classic texts with significant but previously little-known pieces. It highlights the coherence and richness of Polanyi's theoretical and political approach, making it indispensable for understanding his overarching intellectual contribution. The volume includes his interwar writings, which deal with the world economic crisis and the socialist alternative to conservative and fascist developments; his reflection on political theory and the international situation after the war; and his comparative studies of economic institutions. Polanyi's political writings are complemented and supported by the critique of economic determinism and what he termed 'our obsolete market mentality'.This book is an invaluable companion to Polanyi's masterpiece, The Great Transformation, and an essential resource for students and scholars of political economy, sociology, history and political philosophy.

Acknowledgements viiIntroduction by Michele Cangiani and Claus Thomasberger 1Part I Red Vienna 131 On Freedom 152 New Reflections Concerning our Theory and Practice 413 The Functionalist Theory of Society and the Problem of Socialist Economic Accounting 51Part II The World Economic Crisis and The Rise of Fascism 594 Economy and Democracy 615 The Mechanism of the World Economic Crisis 666 The Essence of Fascism 817 The Fascist Virus 108Part III On Marx and the Christian Roots of Western Civilization 1238 Fascism and Marxism 1258.1 Fascism and Marxian Terminology 1258.2 Marxism Re-Stated 1299 Marx on Corporativism 13510 Community and Society. The Christian Criticism of our Social Order 14411 Christianity and Economic Life 154Part IV The Great Transformation, Political Philosophy and Democracy 16512 Jean-Jacques Rousseau, or Is a Free Society Possible? 16713 Common Man's Masterplan 17714 The Meaning of Parliamentary Democracy 18715 Our Obsolete Market Mentality. Civilization Must Find a New Thought Pattern 197Part V Alignments on the International Stage 21316 Why Make Russia Run Amok? 21517 British Labour and American New Dealers 22618 Universal Capitalism or Regional Planning? 231Part VI Towards a Comparative Study of Economic Institutions 24119 On Belief in Economic Determinism 24320 The Livelihood of Man, Introduction 25121 The Economistic Fallacy 26322 The Two Meanings of Economic 27523 The Economy Embedded in Society 290Postscript 29924 Hamlet 301Notes 314Index 327