What did Polanyi contribute to economics?
Opposition to central planning
Supply and demand theory
Monetary policy
Fiscal policy
Answer
Opposition to central planning was a key contribution of Karl Polanyi to economics. He argued that markets were not self-regulating and that government intervention was necessary to protect society from the negative effects of capitalism. Polanyi's work helped to shape the development of economic anthropology and economic sociology, and his ideas continue to be influential in contemporary debates about the role of the state in the economy.
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