Great Transformation

What’s Great Transformation?? The belief that both national societies and the global economy can and should be organized through self-regulating markets.

Describing the great transformation of European civilization from the preindustrial world to the era of industrialization, and the shifts in ideas, ideologies, and social and economic policies accompanying it.

The International System The Hundred Years’ of Peace ( 1815-1914) Wars : six months in 1859, six weeks in 1866, and nine months in 1870-71 Conservatives Twenties, Revolutionaries Thirties

The Rise and Fall of the Market Economy Societies and Economic Systems Evolution of the Market Pattern

Pre-Market Economy Three general types of market economy Redistributive Trade and production was focused to a central entity such as a tribal leader or feudal lord and then redistributed to members of their society.

Reciprocity Exchange of goods is based on reciprocal exchanges between social entities. On a macro level this would include the production of goods to gift to other groups.

House Holding Economies where production is centered around individual households. Family units produce food, textile goods, and tools for their own use and consumption.

Market and Man Market and Nature Disruptive Strains

Transformation in Progress Popular Government and Market Economy Freedom in a Complex Society Balance of Power as Policy, Historical Law, Principle, and System

Selected References to the Evolution of Market Pattern Swings of the Pendulum After World War 1