Karl Polanyi changes the whole concept of the market, in my reading in any case, by talking about the market society. Polanyi reset the terms of the argument. It wasn’t just about whether markets were more efficient economically, it was about the human and environmental costs of allowing people and nature to be included as parts of the production process within the market economy. Karl Polanyi gave us a set of philosophical issues that we’re still wrestling with today. Are we content to allow people to become ever more incorporated into the market society if we can show that it’s not necessarily good for them? Are we comfortable in allowing more of the environment to be incorporated into a market society if we can show that it’s not good for the environment?
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