The theorist who is most skeptical of the existence of markets in early states based on supply and demand is:
A) Diakonoff
B) Friedman and Rowlands
C) Polanyi
D) Earle

Question

Quizplus · Accepted Answer

Polanyi argues that in early states, economic exchange was embedded within social relations and was not governed by supply and demand in the same way that modern market economies are. She suggests that markets only emerged as a result of deliberate state intervention and were not a natural development. Diakonoff, Friedman and Rowlands, and Earle do not deny the existence of markets in early states, but rather focus on different aspects of their development and function.

The Theorist Who Is Most Skeptical of the Existence of Markets