Do We Need a New 'Great Transformation'? Is One Likely?

Frances Stewart

No RP2006-36, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Karl Polanyi wrote The Great Transformation in 1944 which analysed the double movement Europe experienced, from a situation where the market was heavily regulated and controlled in the eighteenth century to a virtually unregulated market in the nineteenth century, and the huge transformation in which the market was once more brought under control as a reaction to the poverty, unemployment and insecurity brought about by the unregulated market. Yet in both developed and developing countries there has since been a reaction with a new move towards the market.

Keywords: Economic development; Economic policy; Globalization; Government policy (Poor); Trade regulation (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (4)

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