“Socialism is, essentially, the tendency inherent in an industrial civilization to transcend the self-regulating market by consciously subordinating it to a democratic society. It is the solution natural to the industrial workers who see no reason why production should not be regulated directly and why markets should be more than a useful but subordinate trait in a free society. From the point of view of the community as a whole, socialism is merely the continuation of that endeavor to make society a distinctively human relationship of persons which in Western Europe was always associated with Christian traditions.”

— Karl Polanyi , book The Great Transformation

The Great Transformation (1944), Ch. 19 : Popular Government and Market Economy

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Karl Polanyi 10

economist, philosopher and historian 1886–1964

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