Corpus ID: 911355

The Great Transformation: The Political and Economic Origins of Our Time

@inproceedings{Polanyi2001TheGT,
  title={The Great Transformation: The Political and Economic Origins of Our Time},
  author={K. Polanyi and J. Stiglitz and F. Block},
  year={2001}
}
But the fount and matrix of the system was the self-regulating market. It was this innovation which gave rise to a specific civilization. The gold standard was merely an attempt to extend the domestic market system to the international field; the balance of power system was a superstructure erected upon and, partly, worked through the gold standard; the liberal state was itself a creation of the self-regulating market. The key to the institutional system of the 19 century lay in the laws… Expand
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