Was karl polanyi a marxist
Karl polanyi, the great transformation pdf...
Embeddedness
Economic concept
In economics and economic sociology, embeddedness refers to the degree to which economic activity is constrained by non-economic institutions.
The term was created by economic historian Karl Polanyi as part of his substantivist approach.
Karl polanyi, the economy as instituted process
Polanyi argued that in non-market societies there are no pure economic institutions to which formal economic models can be applied. In these cases economic activities such as "provisioning" are "embedded" in non-economic kinship, religious and political institutions.
In market societies, in contrast, economic activities have been rationalized, and economic action is "disembedded" from society and able to follow its own distinctive logic, captured in economic modeling. Polanyi's ideas were widely adopted and discussed in anthropology in what has been called the formalist–substantivist debate.[1] Subsequently, the term "embeddedness" was further developed by economic sociologist Mark Granovetter, who argue
