... industrial revolution and the emergence of the capitalist economy where markets in which market prices were determined more by adherence to social, religious and political normative forces than forces of competition in trade (Polanyi; 1994). This is called the "just price" in which various social structures and influences regulated market price and counteracted the price from being ... free to be determined by competitive forces of supply and demand, and is free from any social institutional influences. Polanyi postulates the "double movement" that will exist in the real economic world ...

• Word Count: 1246
• Approx Pages: 5
• Has Bibliography
• Grade Level: Graduate