Karl Polanyi's Concept of Non-Market Trade

Abstract

Karl Polanyi's studies in economic history were concerned with an unusually wide range of economies and societies. Aristotle's Greece, the ancient Near East and Hammurabi's Babylonia, pre-colonial West Africa, and the laissez-faire economy of the nineteenth century were among the areas which he explored. The main focus of his work might well be summed up by the title of the present conference, “The Organizational Forms of Economic Life and Their Evolution,” and equally well by the subtitle, “Non-Capitalistic Organization.” To talk of organizational forms (in the plural) and of non-capitalistic organization is to focus attention on different kinds of economic institutions and on ways of distinguishing among them. To raise this question in an evolutionary context is to suggest a departure from a notion of unilineal development that would tend to see earlier economies as miniature replicas or potential versions of our own market economy.