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Baltimore IMC

Commentary :: Economy

The Great Transition

"The “Great Transition” is meant to echo the phrase used by Karl Polanyi, The Great Transformation, the title of Polanyi’s important 1944 book describing the shift from the world of the commons to that of the total market order. Polanyi argued that the coming of the market order swept aside all sorts of social arrangements that had prevailed for millennia of human history: the role of family, kinship, community and religion, the importance of moral order and other non-market principles…"

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