Adam Smith and Karl Polanyi on the division of labor : a comparison and contrast

Download
2013
Erkul, Abdullah
The concept of the division of labor is comprehensively discussed in Adam Smith’s classic work, The Wealth of Nations (1776), and it holds a key function in his theory of economic development. As a rigorous reader of Smith, Karl Polanyi does not make use of this concept very much in his works; while he conveys Smith’s general understanding throughout The Great Transformation (1944). This calls for a review of the two authors’ use and perception of the concept of the division of labor. As opposed to Smith's economic theory based on the division of labor, Polanyi's substantivist approach to economic phenomena poses a different dynamic of social change based on commodity fiction. For this reason, Polanyi leaves out The Wealth of Nations' key ingredient, division of labor. In retrospect, this thesis work aims to compare and contrast the analytical frameworks of Smith and Polanyi based upon their views on the division of labor and finds affinities in their methodologies and approaches to economic phenomena.

Suggestions

The theory of capitalism and its ontological foundations: comparative study of Marx and Deleuze&Guattari
Kocagül, Volkan; Sol, Ayhan; Department of Philosophy (2006)
The main objective of this thesis is to examine the theory of capitalism and its ontological foundations through the major works of Marx and Deleuze&Guattari. In his monumental book called Capital, Karl Marx develops an account of capitalism based on his understanding of philosophy of which takes its roots from Hegel and Feuerbach. Additionally, English political economy and French socialism serve as reliable grounds for Marx’s analysis. In light of the writings of these historical precursors, Marx constitu...
Capitalism and democracy at a crossroads: the civilizational dimension
Ozveren, E (1998-06-01)
This paper evaluates Schumpeter's grand vision as reflected in his Capitalism, Socialism and Democracy, and elaborates it in conjunction with the so-called "globalization" trends characteristic of the wake of the twenty-first century. In addition to the evolutionary nature of his methodology, the institutionalist dimension of Schumpeter's definitions are brought to light. A case is made for a fundamental process of "uncreative destruction" as far as the institutional setup of the economy is concerned. The c...
Growth of capitalism: how does innovation reinforce capitalism in the progress of its authority?
Kahraman, Ömer Ersin; Taymaz, Erol; Department of Science and Technology Policy Studies (2010)
The main aim of this thesis is to discuss the role of innovation in the capitalist mode of production so as to achieve the domination of capitalism in the human world by capitalizing it. The idea of freedom is handled as a reason for politics when one confronts another in this quest. Process innovations are accepted as methods of improving the profitability of production which deprives dispossessed masses from their productive power outside the workplace while product innovation is claimed to be the process...
Arendt and Marx on the relation between labor and freedom /
Uğur, Mesude; Parkan, Barış; Department of Philosophy (2014)
The aim of this study is to examine the relation between labor and freedom in the philosophy of Arendt which is in contrast to the relation between labor and freedom in the philosophy of Marx. My first motivation for comparing the relation between labor and freedom in the philosophies of Arendt and Marx is to understand whether labor is a form of slavery or freedom. And secondly, I try to understand whether Arendt’s conception of freedom which opposes freedom to labor, thereby excluding the relation between...
BRAUDEL'S MATURE MEDITERRANEAN: CIVILIZATION AND CAPITALISM
Karagoz, Ufuk; Ozveren, Eyup (2015-01-01)
This paper identifies the mature form of Braudel's conception of the Mediterranean within the broader context of his Civilization and Capitalism: 15th-18th Century, where it is only indirectly represented. While the Mediterranean as a historical protagonist albeit to different degrees appears in parallel fashion in the unfolding of all his three major books, The Mediterranean hosts only a nascent and fuzzy form of the tripartite schema of Civilization and Capitalism which Braudel derived from the study of t...
Citation Formats
A. Erkul, “ Adam Smith and Karl Polanyi on the division of labor : a comparison and contrast,” M.S. - Master of Science, Middle East Technical University, 2013.