The reproving of Karl Polanyi

Critical Review 13 (3-4):285-314 (1999)
Abstract
Abstract Karl Polanyi's The Great Transformation has had enormous influence since its publication in 1944. In form, this influence has been salutary: Polanyi targets one of the main weaknesses of modern economics. But in substance, Polanyi's influence has been baneful. Mirroring the methodological blindness he criticizes, Polanyi insists on the all?or?nothing existence/ nonexistence of laissez faire?and on its all?or?nothing goodness/badness.
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