Exploring Polanyi's lesser-known works as well as The Great Transformation, Baum provides a more complete and nuanced understanding of Polanyi's thought. He examines Polanyi's interpretation of modern economic and social history, clarifies the ethical presuppositions present in Polanyi's work, and addresses how Polanyi's understanding of the relation between ethics and economics touches on many issues relevant to the contemporary debate about the world's economic future. Baum argues that we should look to Polanyi's understanding of modern capitalism to reinstate the social discourse and, in political practice, the principles of reciprocity and solidarity. He points to examples, both in Canada and abroad, of attempts to formulate alternative models of economic development and to create new forms of institutional and cultural intervention. Karl Polanyi on Ethics and Economics provides fascinating insights into Polanyi's work and today's central social and political issues. It will be of great interest to sociologists, economists, political scientists, and philosophers.

GREGORY BAUM served as an expert for the Vatican Council II from 1960 to 1965. For 28 years, he taught theology at St. Michael's College in Toronto and, from 1986 on, was a professor of religious studies at McGill University in Montreal. He is the author of many books and articles on ecumenism, the theology of the Christian life, Catholic social teaching and the sociology of religion. Baum was the founding editor of The Ecumenist: A Journal of Theology, Culture and Society.

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"A concise and timely disquisition on Karl Polanyi's thought. Baum brings to light considerations that are still largely overlooked by Polanyi scholars and indicates alternative avenues of thinking about and solving the moral, social, and cultural predicaments of our times. He shows that there is, for people of the left, an intellectual and theoretical alternative outside the usual and well-worn radical discourse. This book is of extreme relevance." Daniel Salée, School of Community and Public Affairs, Concordia University. "A valuable and original contribution to a better understanding of Polanyi's lifelong concern with social ethics." Paul Medow, Department of Economics, York University.