Birthdate: October 25, 1886
Sun Sign: Scorpio
Birthplace: Vienna, Austria
Died: April 23, 1964
Karl Paul Polanyi was an influential Austro-Hungarian economist and sociologist recognized for his work in “The Great Transformation.” He introduced the concept of the Double Movement, which explores the conflict between market forces and social protections. Polanyi’s theory of substantivism stressed the interconnectedness of economies with society and culture, shaping fields like historical sociology and the economic democracy movement. He was also a political figure, establishing the National Citizens’ Radical Party and seeking refuge from oppressive governments in Hungary and Austria. Polanyi later shared his expertise at Bennington College and Columbia University in the United States.
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