It was characteristic of the economic system of the nineteenth century that it was institutionally distinct from the rest of society. In a market economy, the production and distribution of material goods is carried on through a self-regulating system of markets, governed by laws of its own, the so-called laws of supply and demand, motivated in the last resort by two simple incentives, fear of hunger and hope of gain. This institutional arrangement is thus separate from the noneconomic institutions of society: its kinship organization and its political and religious systems. Neither the blood tie, nor legal compulsion, nor religious obligation, nor fealty, nor magic created the sociologically defined situations that insured the participation of individuals in the system. They were, rather, the creation of institutions like private property in the means of production and the wage system operating on purely economic incentives.
Karl PolanyiRelated topics
arrangement blood carry century characteristic distribution fealty fear gain goods hope hunger insured last market nineteenth nor organization participation production property rest simple thus tie means LawsRelated quotes
In the winter of 1841 Schelling gave his famous series of lectures at the University of Berlin before a distinguished audience including Kierkegaard, Burckhardt, Engels, Bakunin. Schelling set out to overthrow Hegel, whose vast rationalist system including the identification of abstract truth with reality and the bringing of all history into an "absolute whole,” held immense and dominant popularity in the Europe of the middle of the nineteenth century. – 1844 Kierkegaard published Philosophical Fragments, and two years later he wrote the declaration of independence for existentialism, Concluding Unscientific Postscript to Philosophical Fragments. Also in 1844 there appeared the second edition of Schopenhauer's The world as will and idea,.. central emphasis "will” along with "idea” -- two related works by Marx 1844-45 – "attacked abstract truth' as "ideology” "using Hegel as his whipping boy” "men and groups bring truth into being” "money economy turns people into things”.
Rollo May
Planning is to be based on the democratic approach and method. There should, therefore, be definite place for voluntary effort...a substantial advance should be made towards solving the problems of unemployment. At the same a large increase is the supply of consumer goods should be secured through cottage and small scale industries...The Socialist pattern implies a large and growing public sector in the national economy...And economy based on the socialistic pattern does not preclude the existence of a private sector, particularly in agriculture and small scale industries...In the public and private sectors alike, the relations of workers to management should be such as would give to them a distinctive role and a share in the making of decisions affecting the enterprise...In any case, a series of measures will have to be adopted to eliminate speculative and unearned gains...Special attention will have to be given to the elimination of conspicuous consumption...
Gulzarilal Nanda
In order better to grasp the thought of Malthus, let us translate it into philosophical propositions by stripping it of its rhetorical gloss: -
"'"Individual liberty, and property, which is its expression, are economical data; equality and solidarity are not."
"Under this system, each one by himself, each one for himself: labor, like all merchandise, is subject to fluctuation: hence the risks of the proletariat."
"Whoever has neither income nor wages has no right to demand anything of others: his misfortune falls on his own head; in the game of fortune, luck has been against him."
From the point of view of political economy these propositions are irrefutable; and Malthus, who has formulated them with such alarming exactness, is secure against all reproach. From the point of view of the conditions of social science, these same propositions are radically false, and even contradictory.
Pierre-Joseph Proudhon
Such laws as the franchise-tax law in this State, which the Court of Appeals recently unanimously decided constitutional -- such a law as that passed in Congress last year for the purpose of establishing a Department of Commerce and Labor, under which there should be a bureau to oversee and secure publicity from the great corporations which do an interstate business -- such a law as that passed at the same time for the regulation of the great highways of commerce so as to keep these roads clear on fair terms to all producers in getting their goods to market -- these laws are in the interest not merely of the people as a whole, but of the propertied classes. For in no way is the stability of property better assured than by making it patent to our people that property bears its proper share of the burdens of the State; that property is handled not only in the interest of the owner, but in the interest of the whole community.
Theodore Roosevelt
I want to mention the British Government's attitude to poorer countries in relation to 1992 and the EEC. There was a delegation here recently led by Mr. Julian Hunte from St. Lucia concerning the implications of the Single European Act for the survival of the Windward Islands. There is a problem because of the likelihood of the closure of markets for bananas and some of the smaller eastern Caribbean countries and the low price that the producers receive for them. It is necessary for the British Government to do something to protect the markets that those islands have traditionally enjoyed. If not, they will become seriously impoverished and further indebted. They will lose out because of Britain's obsession with moving deeper into the Common Market and accepting the Common Market's single economy rather than protecting those who have traditionally supplied goods to this country.
Jeremy Corbyn