[neuralk]

An article with a title like this, people are only responding to the question (which is rhetorical anyway). The OP submission has only been up 1 hour at the time of this comment and the vast majority of the 100+ comments here are addressing only the title question or reactions to it. None mention Polanyi and few discuss the author's most salient points at the end of the article.

[noir-york]

Polanyi as a thinker isn't frankly particularly imaginative or interesting: for someone who read British economic history, it appears he missed Adam Smith's Moral Sentiments, political liberalism, and the rise of a parliamentary labour movement in England (as opposed to a revolutionary party).

If Polanyi had considered the above he wouldn't have come to the conclusion that the two possibilities are either socialism or fascism.

The prescriptions - social welfare, etc - at the end of the article are known. The question is why they haven't been implemented in the US (they have in most other Western counties to various degrees).

I address other points in another comment below.