Challenging Dominant Market Theories in Five Ways[1]

This article discusses why many social scientists including Karl Polanyi, Max Weber, and Karl Marx are dissatisfied with an overreliance on markets, and a conceptualization of markets being efficient, fair and rational. Topics include five types of arguments critical of markets including the Marxian approach to markets, the rise of Karl Polanyi's view that markets are fragile, and a more complex decision-making approach starting with Max Weber's view of social action.