Analysis Of The Great Transformation By Karl Polanyi

The theory that we find appropriate had been applied in the context of Karl Polanyi in chapter two, the Conservative twenties, Revolutionary thirties is Realism. This realism theory fitting since we all know every country around the world will do everything for their state’s survival. Furthermore, each country will compete with each other to obtain resources as much as they can. This is coincide with the theory of realism because, as we understand the narrative introduced by Polanyi, State also will be selfish in the event of threats where they might have to ignore the agreement that they had signed with their fellowship.
In this chapter, we get to know that people at that time did not realize that they live under international monetary system …show more content…
Unanimity is defined as agreement made by all people involved. As mentioned in the book, this unanimity rule has made a small state into the heart of world peace. This ruled out any possible constructive solutions that could solve the current problem faced by Europe. This rule further led to the establishment of an international order. In our opinion, this rule should not have been introduced into the system in the first place. Not to mentioned the possibilities of having misused of power among the committee involved in voting but also the lack of choices to …show more content…
The propaganda that submitted Self-regulating market system will be used and deemed to be a unique and effective system in the new era. According the authors in the article of the great transformation in chapter two, it is only beneficial if the country was in a disastrous situation. In our view, we do not quite agree with the view that submitted for Self-regulating market system is not only beneficial if the country was in a disastrous situation, but other state necessary and can user needs as well as in practice Self-regulating market system in our