Liberal capitalism came about as a human response to the challenge of the Industrial Revolution. Under this form of capitalism, the human economy becomes a self-adjusting system of markets. This means that man adjusted its economy to incorporate the new employment of machinery in manufacture in order to continue to make a monetary profit. Polanyi expresses his belief that liberal capitalism emerged primarily out of fear; machine seemed to supersede human workers, the notion he refers to as “mechanism over organism” (p.109). Out of liberal capitalism emerged, naturally, a liberal economy. The original result of liberal capitalism was self-adjusting markets; Polanyi’s disapproval of the resulting liberal capitalism comes from the development
