Th Grt Trnsfrmtn s bk by Krl Plny, Hngrn pltcl cnmst. Frst pblshd n 1944 by Frrr & Rnhrt, t dls wth th scl nd pltcl phvls tht tk plc n nglnd drng th rs f th mrkt cnmy. Plny cntnds tht th mdrn mrkt cnmy nd th mdrn ntn-stt shld b ndrstd nt s dscrt lmnts bt s sngl hmn nvntn, whch h clls th "Mrkt Scty".
dstngshng chrctrstc f th "Mrkt Scty" s tht hmnty's cnmc mntlts hv bn chngd. Prr t ths, ppl bsd thr cnms n rcprcty nd rdstrbtn crss prsnl nd cmmnl rltnshps. s cnsqnc f ndstrlztn nd ncrsng stt nflnc, cmpttv mrkts wr crtd tht ndrmnd ths prvs scl tndncs, rplcng thm wth frml nstttns tht md t prmt slf-rgltng mrkt cnmy. Th xpnsn f cptlst nstttns wth n cnmclly lbrl mndst nt nly chngd lws bt ls fndmntlly ltrd hmnknd's cnmc rltns; prr t ths, mrkts plyd vry mnr rl n hmn ffrs nd wr nt vn cpbl f sttng prcs bcs f thr dmntv sz. t ws nly ftr ndstrlztn nd th nst f grtr stt cntrl vr nwly crtd mrkt nstttns tht th myth f hmn ntr's prpnsty twrd rtnl fr trd bcm wdsprd. Hwvr, Plny ssrts nstd tht "mn's cnmy, s rl, s sbmrgd n hs scl rltnshps," nd h thrfr prpss n ltrntv thngrphc cnmc pprch clld "sbstntvsm", n ppstn t "frmlsm", bth trms cnd by Plny n ftr wrk.
n brdr thrtcl lvl, Th Grt Trnsfrmtn rgs tht mrkts cnnt slly b ndrstd thrgh cnmc thry. Rthr, mrkts r mbddd n scl nd pltcl lgcs, whch mks t ncssry fr cnmc nlysts t tk nt ccnt pltcs whn tryng t ndrstnd th cnmy. Fr ths rsn, Th Grt Trnsfrmtn s ky wrk n th flds f pltcl cnmy nd ntrntnl pltcl cnmy.