What is Polanyi best remembered as the originator of?
Substantivism
Capitalism
Essentialism
Conceptualism
Answer
Polanyi is best remembered as the originator of substantivism. Substantivism is a perspective in economics which argues that the economy is embedded in social institutions and cannot be understood apart from them. In contrast to neoclassical economics, which views the economy as a self-regulating system, substantivists argue that the economy is shaped by social, political, and cultural factors.
The Karl Polanyi Trivia Challenge: Unearth the Legacy of an Extraordinary Economist
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