Truer Words Have Ever Been Spoken

Name the economist from the quote:
“Undoubtedly, our age will be credited with having seen the end of the self-regulating market.”

Karl Polanyi, in The Great Transformation, 1944. Oh, KP, if only you had been right we might have avoided this whole financial mess. But the ideology of market fundamentalism/self-regulating markets/neoliberalism managed to get past even the Great Depression and WWII.

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2 Comments

  1. Dan, it took me like 3 days to realize that this was titled: Truer Words Have ever been spoken. Man, that’s clever. Too bad I just got it.

  2. Vito Fabio Fabietti

     /  November 11, 2008

    Hello,
    Found your blog while googling Polanyi. Perhaps in our lifetime? Columnists and bloggers who have dug up their old copy of The Great Transformation during the last year are legio, and my teachers at the uni have talked about a new second movement, globalization from below and what not, for years. For the second movement to succeed in creating a good world order alternative to the SRM, grass root civil society concerns of justice need, they say, to find a mutually constitutive point of balance with the state/international system and its security interests and with the market with its growth interests. Let’s see what Bretton Woods II (or is it BW III?), UN Copenhagen 15 etc. will bring.

    Best regards
    Vito