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Four Horsemen of The Apocalypse: Marx, Weber, Schumpeter, and Polany

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  • Hüseyin Özel

    (Hacettepe University, Department of Economics)

Abstract

This paper aims at understanding the unstable character of the capitalist society, by drawing upon some respective work of Marx, Weber, Schumpeter, and Polanyi. All four, it is argued, share similar visions towards capitalism and contend that the working of capitalism undermines its own institutional structure. The paper advances three theses: all four thinkers conceive human history as displaying both human self expression and the loss of freedom due to increasing rationalization and alienation; according to them capitalism creates both the preconditions of self-realization and rationalization at once; and they also believe that the very success of capitalism is the basic cause of its failure.

Suggested Citation

  • Hüseyin Özel, 2018. "Four Horsemen of The Apocalypse: Marx, Weber, Schumpeter, and Polany," Yildiz Social Science Review, Yildiz Technical University, vol. 4(2), pages 111-124.
    • Handle: RePEc:aye:journl:v:4:y:2018:i:2:p:111-124
    as

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    References listed on IDEAS

    as
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    5. E. K. Hunt, 1979. "The Importance of Thorstein Veblen for Contemporary Marxism," Journal of Economic Issues, Taylor & Francis Journals, vol. 13(1), pages 113-140, March.
    6. John E. Elliott, 1980. "Marx and Schumpeter on Capitalism's Creative Destruction: A Comparative Restatement," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 95(1), pages 45-68.
    7. Shionoya, Yuichi, 2004. "Scope and Method of Schumpeter's Universal Social Science: Economic Sociology, Instrumentalism, and Rhetoric," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(3), pages 331-347, September.
    8. J. Stanley Metcalfe & John Foster (ed.), 2004. "Evolution and Economic Complexity," Books, Edward Elgar Publishing, number 3216.
    9. Hugo Reinert & Erik S. Reinert, 2006. "Creative Destruction in Economics: Nietzsche, Sombart, Schumpeter," The European Heritage in Economics and the Social Sciences, in: Jürgen G. Backhaus & Wolfgang Drechsler (ed.), Friedrich Nietzsche (1844–1900), chapter 4, pages 55-85, Springer.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Marx; Polanyi; Weber; Schumpeter; Alienation; Iron cage; creative destruction; double movementJournal: Yildiz Social Science Review;
    All these keywords.

    JEL classification:

    • F00 - International Economics - - General - - - General
    • F30 - International Economics - - International Finance - - - General
    • G00 - Financial Economics - - General - - - General
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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