• European Transition to a Market Society

  • May 23 2022
  • Length: 27 mins
  • Podcast
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European Transition to a Market Society

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  • For detailed writeup, and links to relevant materials, see: http://bit.ly/AZGTET - This podcast summarizes Karl Polanyi's masterpiece: The Great Transformation: Political and Economic Origins of our Times. It explains how a traditional society based on Biblical values was transformed into a secular modern society. The key driver of this change was the industrial revolution, which created massive surplus outputs. In order to be able to produce the surplus, an agricultural revolution was required to feed the masses of laborers involved in industrial production. In addition, it was necessary to create a labor market, where human lives could be bought and sold for money. This was created by the movement for enclosures, which was a massive landgrab by the aristocracy, which prevented the masses from accessing the land to feed themselves. Land, instead being accorded respect as Mother Earth, which feeds and supports our lives, was turned into a marketable commodity. This failure to recognize the real value of our habitat is at the root of the current environmental crisis.   
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