Karl Polanyi, Date of Birth, Place of Birth, Date of Death


Karl Polanyi

economist, philosopher and historian

Date of Birth: 25-Oct-1886

Place of Birth: Vienna, Austria

Date of Death: 23-Apr-1964

Profession: writer, economist, historian, university teacher, journalist, sociologist, anthropologist, philosopher, economic historian

Nationality: Hungary

Zodiac Sign: Scorpio

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About Karl Polanyi

  • Karl Paul Polanyi (; Hungarian: Polányi Károly ['pola??i 'ka?roj]; October 25, 1886 – April 23, 1964) was an Austro-Hungarian economic historian, economic anthropologist, economic sociologist, political economist, historical sociologist and social philosopher.
  • He is known for his opposition to traditional economic thought and for his book, The Great Transformation, which argued that the emergence of market-based societies in modern Europe was not inevitable but historically contingent.
  • Polanyi is remembered today as the originator of substantivism, a cultural approach to economics, which emphasized the way economies are embedded in society and culture.
  • This view ran counter to mainstream economics but is popular in anthropology, economic history, economic sociology and political science. Polanyi's approach to the ancient economies has been applied to a variety of cases, such as Pre-Columbian America and ancient Mesopotamia, although its utility to the study of ancient societies in general has been questioned.
  • Polanyi's The Great Transformation became a model for historical sociology.
  • His theories eventually became the foundation for the economic democracy movement.
  • His daughter, Canadian economist Kari Polanyi Levitt (born 1923 in Vienna, Austria), is Emerita Professor of Economics at McGill University, Montreal.

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