The Economical and Political Impacts of the Double Activity that Influenced the Cultural Transformation in the 19th Century
Polanyi’s Double Movement
In The Great Transformation, Karl Polanyi opens his conversation with the “nineteenth-century civilization features collapsed” (Polanyi 3). Polanyi theorizes the double movement to make clear the downfall of the nineteenth-century civilization. The double movements contains two contradicting movements caused by the marketplace system and world. Furthermore, Polanyi uses cost-effective and political impacts of the dual movement to describe cultural transformations.
Before the double motion, Polanyi claims that four institutions composed the nineteenth-century civilization. The four establishments were: the balance of power program, the international gold regular, the self-regulating marketplace, and the liberal talk about (Polanyi 3). In addition, Polanyi believes “that the total amount of power, the gold common, and the liberal condition…were… shaped in a single common matrix, the self-regulation industry” (Polanyi 31). Because of the self-regulating industry, the Industrial Revolution occurred. The Industrial Revolution bring about the to the primary movement in try to create market utopia.Polanyi’s general framework to go over civilizations downfall was the decline of classical liberal idea and the progression of laissez-faire. Polanyi describes the earliest movement as industry liberalism or economic liberalism, generally known as laissez-faire through the nineteenth-century in France.