Adam Smith "Wealth of Nations"
-capitalism a source of wealth
-competition leads to economic growth
-worker exploitation? - higher wages leads to productivity (not reality)
-land , labour, capital = modes of production
-equal class structure, value leads to exploitation
-loss of control over work = alienation
-class conflict lead to social change (rev), socialism
Division of Labour
-specialization vs. deskilling
-Adam Smith "key to success"
-Charles Babbage "lower labour cost=profit)
-Karl Marx "alienation=class conflict"
Division of Labour (Emile Durkheim)
-interdependence in society
-excessive DOL = social isolation
-society must work together to overcome "growing pains" of industrial capitalism
-critic of bureaucracies, result of industrial cap
-informal work replaced, job diversity narrowed
-bureaucracy = "iron cage"
Trends of Industrial Capitalism
-Scandinavian experiments w/ democracy
-Asian tigers - state guided, investments
-China politically com, economically cap
Problems of Industrial cap
-Great Depression followed by golden era