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11 Dec 2019
In chapter 4 of The Great Transformation, Karl Polanyi shows how markets have largely been incidental to human economic organization until the end of feudalism and the recent advent of capitalism. Using the concepts of reciprocity, distribution, and householding (you should define and explain these three concepts), explain how until markets became important, the economy of a society was largely embedded within its social institutions.
In chapter 4 of The Great Transformation, Karl Polanyi shows how markets have largely been incidental to human economic organization until the end of feudalism and the recent advent of capitalism. Using the concepts of reciprocity, distribution, and householding (you should define and explain these three concepts), explain how until markets became important, the economy of a society was largely embedded within its social institutions.
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