What did Karl Polanyi question the conceptual validity of?
Self-regulating markets
Democratic governments
European Union
Quantum theory
Answer
Karl Polanyi was a social and economic historian who questioned the conceptual validity of self-regulating markets. He argued that markets are not natural phenomena but are instead socially constructed and embedded in particular social and cultural contexts. Polanyi further argued that the idea of a self-regulating market is a utopian fiction that has never existed in practice and that cannot exist in practice.
The Karl Polanyi Trivia Challenge: Unearth the Legacy of an Extraordinary Economist
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