The free market is an impossible utopia

By Henry Farrell July 18

Fred Block (research professor of sociology at University of California at Davis) and Margaret Somers (professor of sociology and history at the University of Michigan) have a new book, “The Power of Market Fundamentalism: Karl Polanyi’s Critique” (Harvard University Press, 2014). The book argues that the ideas of Karl Polanyi, the author of “The Great Transformation,” a classic of 20th century political economy, are crucial if you want to understand the recession and its aftermath. I asked the authors a series of questions.