Archives For economics

How we used to live together

Jerry —  August 8, 2013 — 5 Comments

We are modern. We see the world through modern eyes, in a modern context. It’s very hard to unlearn that perspective, or even to understand what it means.

From the modernist point of view, a lot of behaviors and institutions from times gone by make no sense at all. If you want to be entertained learning why the strange customs of the British pre-modern aristocracy were actually well suited to their times and contributed directly to a couple hundred years of Rule Britannia, read The Institutional Revolution: Measurement and the Economic Emergence of the Modern World, by Doug Allen.

That would be entertaining, but not as useful as a reading of The Great Transformation, written by Karl Polanyi in 1944. In the video below, I distill what I got from the book. I’ll offer some comments after it.

The three ways we stayed alive before: householding, reciprocity and redistribution. The three fictitious commodities brought by the industrial revolution: land, labor and money. Poverty, new in 1650; unemployment, new in 1750. The mind boggles.

I’m going to keep creating 5minUs of books that have influenced me, and I encourage you to, as well. Together we might be able to read our way through huge stacks of important works. Contradictions and debate welcome. That’s the point, too.