Why is Polanyi's opinion counter to mainstream economics?
It emphasizes economies embedded in society and culture
It supports total free market policies
It disregards globalization
It denies the existence of economic downturns
Answer
Karl Polanyi's views on economics run counter to mainstream economics, which emphasizes a rational economic actor who is only concerned with maximizing their utility. Polanyi argues that economies are embedded in society and culture, and that economic decisions are not made in a vacuum. Rather, they are influenced by social norms, cultural values, and political institutions.
The Karl Polanyi Trivia Challenge: Unearth the Legacy of an Extraordinary Economist
Related Quizzes
Subscribe Now!
Learn something
new everyday
Playing quizzes is free! We send 1 quiz every week to your inbox