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

Download

index.pdf

Date

2013

Author

Erkul, Abdullah

Metadata

Show full item record

Item Usage Stats

413
views

128
downloads

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.

Subject Keywords

Division of labor., Economics., Capitalism., Liberalism.

URI

http://etd.lib.metu.edu.tr/upload/12616168/index.pdf
https://hdl.handle.net/11511/22741

Collections

Graduate School of Social Sciences, Thesis

Suggestions

OpenMETU
Core

Financial development, financial openness and growth: an empirical investigation Ünaldı Akgün, Burçin; Özmen, Erdal; Department of Economics (2011) The economic literature posits that a well-functioning economy requires a well-regulated financial system, and a sound financial system is essential to the fundamentals of an economy, however, even the most influential economists disagree sharply about the role of the finance-growth relationship in economic development. One of the most important questions concerning financial openness is whether it spurs long-run economic growth, and if yes, do these benefits outweigh the risks for developing countries. In ...
Spatial-temporal fixed and hegemonic transitions in the historical capitalism Taşkesen, Suat; Tayfur, Mehmet Fatih; Department of International Relations (2010) This thesis analyzes the historical capitalism in a historical context. ccumulation cycles, hegemonic transitions, and their interrelated structures n the historical capitalism will be discussed alongside inspired prose, and completed final drafts. The thesis will also trace the causes and effects of accumulation cycles and hegemonic transitions and will seek to answer questions such as how and why those cycles and transitions ocur, what are the determinants and how and why those determinants effect those p...
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...
Neoliberal pension reform as a class project: the cases of Chile and Turkey Yılmaz Akın, Burcu Gökçe; Bedirhanoğlu Toker, Pınar; Department of International Relations (2014) The purpose of the thesis is to demonstrate the validity of David Harvey’s argument that neoliberalism is a class project in relation to the transformation of pension systems in the countries of the South that have been forced by the International Financial Institutions since the 1980s. The proposed reform has tried to be justified by a discourse that has emphasized the need for sustainable pension systems in the face of population ageing while population ageing has indeed been one of the most important dem...
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...

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.