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Polanyi - Economic Liberalism "Utopian"

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Polanyi declares economic liberalism as utopian. Define "economic Liberalism" and "utopian". Why does Polanyi think economic Liberalism is utopian, and what evidence does Polanyi offer for this claim. Critically evaluate Polanyi's claim. Is he right?

Can you please help offer me some ideas/opinions? Thank you very much!!

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Solution Summary

This solution define "economic liberalism" and "utopian" and critically evaluates Polanyi's claim that that posits that economic liberalism is utopian, including the evidence Polanyi offers for this claim. Supplemented with an informative article on the second contradiction of Polanyi.