Maximilian Gruber | University of Vienna (original) (raw)
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Papers by Maximilian Gruber
Adam Smith’ conception of how economy should work, as well as the positive effects of market ampl... more Adam Smith’ conception of how economy should work, as well as the positive effects of market amplification and trade are considered to be the roots of the liberal-capitalist economic system that we are still living in today. Nevertheless, it is quite obvious that not all participants of this system profit equally from its advantages which results in hierarchical differences between the different regions of the world: those that have managed to become centers of capital accumulation and high class industrial production and those which have to focus predominately on the provision of raw materials and less valuable industrial goods for the more central parts of the system. This essay tries to examine if and to which extent Adam Smith was also able to see inequalities as we do it today and how he considered these to be part of a world-wide system of economy. Another aim will be to show from which perspectives he looked at the economic and politic situation of his lifte-time and in which fields he wanted his concepts to be exercised. In order to provide a sustainable theoretic basement for this approach, this essay will focus on Immanuel Wallerstein’s world-system theory and it will try to apply this concept in a profound analysis of Smith’ Wealth of Nations. Regarding the current economic situation of developing and decolonized countries, the results of this analysis shall be shown in a conclusion in order demonstrate how illuminating Smith’s observations on Europe’s role in economy still are.
Adam Smith’ conception of how economy should work, as well as the positive effects of market ampl... more Adam Smith’ conception of how economy should work, as well as the positive effects of market amplification and trade are considered to be the roots of the liberal-capitalist economic system that we are still living in today. Nevertheless, it is quite obvious that not all participants of this system profit equally from its advantages which results in hierarchical differences between the different regions of the world: those that have managed to become centers of capital accumulation and high class industrial production and those which have to focus predominately on the provision of raw materials and less valuable industrial goods for the more central parts of the system. This essay tries to examine if and to which extent Adam Smith was also able to see inequalities as we do it today and how he considered these to be part of a world-wide system of economy. Another aim will be to show from which perspectives he looked at the economic and politic situation of his lifte-time and in which fields he wanted his concepts to be exercised. In order to provide a sustainable theoretic basement for this approach, this essay will focus on Immanuel Wallerstein’s world-system theory and it will try to apply this concept in a profound analysis of Smith’ Wealth of Nations. Regarding the current economic situation of developing and decolonized countries, the results of this analysis shall be shown in a conclusion in order demonstrate how illuminating Smith’s observations on Europe’s role in economy still are.