scholarly journals On the divergence of early and contemporary HRM theories

2021 ◽  
Author(s):  
Anna Gordon
Keyword(s):  
Mass Production ◽  
Industrial Revolution ◽  
Adam Smith ◽  
Jeremy Bentham ◽  
Modern Management ◽  
Technical Advances ◽  
Wealth Of Nations ◽  
David Ricardo ◽  
Management Theories

The quest of human for better production and management methods to generate or to raise income is asancient as time. Adam Smith (1723 – 1790), David Ricardo (1772 – 1823), and Jeremy Bentham (1748 –1832) are considered to be the pioneers of modern management theories. The conventional managementtheories originated in the industrial revolution when technical advances, the expansion of commerce andmarkets, increasing populations generate mass production opportunities by means of a motorized andsystemic method. First, this research reviews three most crucial early works: An Inquiry into the Natureand Causes of the Wealth of Nations” (1776) by Adam Smith (1723 – 1790), “Letter to T. R. Malthus,October 9, 1820” by David Ricardo (1772 – 1823), and “Introduction to the Principles of Morals” (1789)by Jeremy Bentham (1748 – 1832). Second, we compare those early works with modern theories andpractices of HRM. We argued that the early theories were built upon materialistic consideration; while,the modern theories are established on both materialistic and humanitarian grounds. The trends in HRMliterature showed that we might witness, in coming decades, a surge of theories built on humanitarianprinciples.

Marx y las ciencias sociales: La interpretación de Veblen sobre Das Kapital

Protrepsis ◽  
2018 ◽  
pp. 61-76
Author(s):  
Victor M. Hernández Márquez
Keyword(s):  
Adam Smith ◽  
Jeremy Bentham ◽  
Thorstein Veblen ◽  
David Ricardo ◽  
Siglo Xx

El presente trabajo se propone exponer y discutir la recepción temprana de Das Kapital en el campo de las ciencias sociales, enfocándose en el análisis que Thorstein Veblen hizo a principios del siglo XX. Con una formación sólida como filósofo y como economista, Veblen era la persona mejor preparada para mostrar las virtudes y defectos de la teoría de Marx. Según su análisis, el cual denomino interpretación holista, la originalidad de Marx recae en la forma como amalgama elementos pertenecientes a dos tradiciones de pensamiento completamente ajenas entre sí; es decir, el idealismo alemán, y en particular, al teoría de Hegel, con la economía política inglesa de Adam Smith, Jeremy Bentham y David Ricardo. Por consiguiente, dado que la fuerza de la teoría del capital no recaen en los elementos considerados de manera aislada, sino en la forma en que han sido incorporado en una estructura lógica fuerte, sostiene Veblen, no tiene sentido discutir la teoría de Marx analizando cada uno de sus elementos por separado; proceder de esta forma solo puede dar lugar al tipo de incomprensiones que han provocado por igual criticas desafortunadas y extensos comentarios insustanciales, algunos de los cuales es posible encontrar aún en la literatura.

The Impartial Spectator Goes to Washington: Toward a Smithian Theory of Electoral Behavior

1985 ◽  
Vol 1 (2) ◽  
pp. 189-211 ◽  
Author(s):  
Geoffrey Brennan ◽  
Loren Lomasky
Keyword(s):  
Adam Smith ◽  
Electoral Behavior ◽  
Impartial Spectator ◽  
Body Of Knowledge ◽  
Wealth Of Nations ◽  
David Ricardo

When economists pay homage to the wisdom of the distant past (not the most common of professional exercises) it is more likely that a work two decades old is being admired than one two centuries old. Economics is a science, and the sciences are noteworthy for their digestion and assimilation of the work of previous generations. Contributions remain only as accretions to the accepted body of knowledge; the writings and the writers disappear almost without trace. A conspicuous exception to this rule of professional cannibalization is Adam Smith. Since 1776 he has not lacked for honors that have escaped even his most illustrious peers. Who, after all, wears a David Ricardo necktie? So to the author of The Wealth of Nations, all praise!

The Brexitologic of Competitiveness

2019 ◽  
Vol 12 (42) ◽  
pp. 147-171
Author(s):  
Denisa Čiderová ◽  
Dubravka Kovačević ◽  
Jozef Čerňák
Keyword(s):  
Industrial Revolution ◽  
Adam Smith ◽  
The European Union ◽  
Global Competitiveness ◽  
War Of Independence ◽  
American Colonies ◽  
The World ◽  
Global Competitiveness Index ◽  
Wealth Of Nations ◽  
Boston Tea Party

Abstract Adam Smith finalised his magnum opus An Inquiry into the Nature and Causes of the Wealth of Nations between 1773 (Boston Tea Party) and 1776 (Declaration of Independence), and in its final paragraph Britain should “endeavour to accommodate her future views and designs to the real mediocrity of her circumstances”. The Wealth of Nations was “aimed to influence British MPs [Members of Parliament] to support a peaceful resolution to the American colonies’ War of Independence”, A. Smith “urged legislators to awaken from the “golden dream” of empire and avoid “a long, expensive and ruinous war”“, and “rejection of the protectionist Corn Laws in favour of opening up to the world economy marked the start of an era of globalization which contributed to Britain’s prosperity”, as Yueh (2019, p. 16f) puts it. Over the years, industrialization brought about by the Industrial Revolution has been challenged by deindustrialization, globalization by deglobalization. So with the “Brexit issue” at stake, what has been the “Brexitologic of Competitiveness”? In an earlier relevant series of analyses published by Čiderová et al. between 2012-2014 our focus was on the Global Competitiveness Index (alias the GCI by the World Economic Forum) in a spectrum of territorial and temporal perspectives related to the European Union. Now, in this follow-up comparative study zooming out to globalization and zooming in to competitiveness, our focus is streamlined to the “openended Brexit issue” on the background of updates of the GCI (alias GCI 4.0) and the KOF Globalisation Index (the latter by ETH Zürich).

scholarly journals Teori Ekonomi David Ricardo, Robert Malthus dan Jean Baptiste Say

2021 ◽  
Author(s):  
Rezki Amalia Fathurrahman
Keyword(s):  
Adam Smith ◽  
Wealth Of Nations ◽  
David Ricardo

Seperti kita ketahui bahwa mencetus ekonomi kapitalis adalah Adam Smith yang terkenal bukunya yang berjudul “The Wealth of Nations”. Setelah telah teori ekonominya cukup terkenal. Lalu diteruskan oleh tokoh pemikir ekonomi yang bernama David Richardo yang terkenal dengan teori keunggulan komparatif yang menurut pendapatnya bahwa perdagangan bebas akan menghasilkan kedua belah pihak jika melakukan kerja sama dan melakukan pembagian kerja meskipun setiap negara memiliki keunggulan absolut yang berbeda dengan negara lain. Robert Malthus yang terkenal dengan teori kependudukan yang dimana ia berpendapat bahwa semakin banyak jumlah penduduk maka sumber daya alam yang ada akan cepat habis karena harus memenuhi kebutuhan manusia meskipun kenyataan zaman sekarang berbeda dengan zaman dahulu karena penduduk yang berpenghasilan cukup tinggi lebih memilih untuk memiliki satu atau dua anak karena alasan ingin mendidik anak menjadi lebih baik dan mampu menjadi generasi lebih baik sedangkan kelas menengah atau miskin lebih memilih banyak anak karena punya alasan bahwa banyak anak banyak rejeki karena di harapkan dengan banyak keturunan akan mengeluarkan mereka dari kemiskinan melalui anak-anak mereka. Jean Baptiste Say terkenal dengan hukum pasar say yang mengatakan bahwa penawaran akan menciptakan permintaan sendiri secara alami maksudnya bahwa naik pendapatan suatu negara bukan ditentukan banyaknya jumlah uang beredar tetapi berapa produksi barang dan jasa yang dilakukan, semakin banyak produksi barang dan jasa maka semakin tinggi jumlah pendapatan suatu negara.

scholarly journals Retrospectives: From Usury To Interest

2007 ◽  
Vol 21 (1) ◽  
pp. 227-236 ◽  
Author(s):  
Joseph Persky
Keyword(s):  
Political Economy ◽  
Interest Rate ◽  
Middle Ages ◽  
Industrial Revolution ◽  
Adam Smith ◽  
Modern World ◽  
Jeremy Bentham ◽  
The Interest Rate ◽  
Definition Of ◽  
Total Welfare

Since the Middle Ages, each epoch has participated in the debate over the conditions in which lending should be prohibited as usury. While disagreements over the definition of usury remain, the debate came to its modern climax on the eve of the industrial revolution, in a well-known interchange between Jeremy Bentham and Adam Smith in the late 1780s. Smith, for all his faith in a system of natural liberty, proved unwilling to let the interest rate float. Bentham argued anything else must reduce total welfare. From a superficial perspective, the entire affair amounts to nothing more than a modest dispute between a failing master (Smith died in 1790) and an over-eager disciple. (Bentham acknowledged in the Defence that all he knew of political economy originated in Smith's works.) Yet the argument struck a fundamental chord. Gilbert K. Chesterton identified Bentham's essay on usury as the very beginning of the “modern world.” I tend to agree.

The New World of Adam Smith

2017 ◽  
Author(s):  
John Kenneth Galbraith
Keyword(s):  
Public Policy ◽  
Political Economy ◽  
Eighteenth Century ◽  
Free Trade ◽  
New World ◽  
Industrial Revolution ◽  
Adam Smith ◽  
Standard Of Living ◽  
Wealth Of Nations ◽  
Trade Competition

This chapter examines Adam Smith's theories during the Industrial Revolution, which came to England and southern Scotland in the last third of the eighteenth century. During the Industrial Revolution, the workers who previously had been producing goods in their cottages or food and wool on their farms moved to the factories and the factory towns. Merchants began to invest their capital in factories and machinery or in the far from munificent wages that kept alive the workers. This change was made possible by the industrialist, whose orientation was to the production of goods, rather than their purchase or sale. The chapter discusses Smith's views on a variety of subjects, which he articulated in the Wealth of Nations, including borrowing, capitalism, free trade, competition, credit, distribution, innovation, justice, labor, manufacturing, merchants, monopolies, political economy, prices, production and productivity, profit, public policy, rent, standard of living, and value.

scholarly journals OVERCOMING ABSOLUTE AND COMPARATIVE ADVANTAGE: A REAPPRAISAL OF THE RELATIVE CHEAPNESS OF FOREIGN COMMODITIES AS THE BASIS OF INTERNATIONAL TRADE

2020 ◽  
Author(s):  
Jorge Morales Meoqui
Keyword(s):  
Comparative Advantage ◽  
Lower Cost ◽  
Adam Smith ◽  
Cost Advantage ◽  
Comparative Cost ◽  
International Specialization ◽  
Widespread Belief ◽  
Wealth Of Nations ◽  
Comparative Cost Advantage ◽  
David Ricardo

David Ricardo indicated in his famous numerical example in the Principles that it would be advantageous to Portugal to import English cloth made by 100 men, although it could have been produced locally with the labor of only 90 Portuguese men. As the production of the cloth required less quantity of labor in Portugal, it has been commonly inferred that this country had a production cost advantage over England in cloth making. This inference will be proven wrong here by showing that the English cloth had a lower cost of production than the Portuguese cloth. This finding refutes the widespread belief that Ricardo had formulated a new law, principle or rule for international specialization, known as comparative advantage. He used the same rule for specialization as Adam Smith in the Wealth of Nations. Thus, the popular contraposition of Smith’s absolute versus Ricardo’s comparative cost advantage has to be dismissed.

scholarly journals OVERCOMING ABSOLUTE AND COMPARATIVE ADVANTAGE: A REAPPRAISAL OF THE RELATIVE CHEAPNESS OF FOREIGN COMMODITIES AS THE BASIS OF INTERNATIONAL TRADE

2021 ◽  
pp. 1-17
Author(s):  
Jorge Morales Meoqui
Keyword(s):  
Comparative Advantage ◽  
Lower Cost ◽  
Adam Smith ◽  
Cost Advantage ◽  
Comparative Cost ◽  
International Specialization ◽  
Widespread Belief ◽  
Wealth Of Nations ◽  
Comparative Cost Advantage ◽  
David Ricardo

David Ricardo indicated in his famous numerical example in the Principles that it would be advantageous to Portugal to import English cloth made by 100 men, although it could have been produced locally with the labor of only 90 Portuguese men. As the production of the cloth required less quantity of labor in Portugal, it has been commonly inferred that this country had a production cost advantage over England in cloth making. This inference will be proven wrong here by showing that the English cloth had a lower cost of production than the Portuguese cloth. This finding refutes the widespread belief that Ricardo had formulated a new law, principle, or rule for international specialization, known as “comparative advantage.” He used the same rule for specialization as Adam Smith in the Wealth of Nations. Thus, the popular contraposition of Smith’s absolute versus Ricardo’s comparative cost advantage has to be dismissed.

Energy, transport, and consumption in the Industrial Revolution

2019 ◽  
Vol 42 ◽  
Author(s):  
Joseph A. Tainter ◽  
Temis G. Taylor
Keyword(s):  
Mass Production ◽  
Industrial Revolution ◽  
Energy Transport ◽  
Underlying Assumption

Abstract We question Baumard's underlying assumption that humans have a propensity to innovate. Affordable transportation and energy underpinned the Industrial Revolution, making mass production/consumption possible. Although we cannot accept Baumard's thesis on the Industrial Revolution, it may help explain why complexity and innovation increase rapidly in the context of abundant energy.

Two Intellectual Landmarks in the Year 1749

2019 ◽  
Vol 17 (2) ◽  
pp. 101-123
Author(s):  
Farhad Rassekh
Keyword(s):  
Paradigm Shift ◽  
David Hume ◽  
Adam Smith ◽  
Considerable Extent ◽  
Monetary Theory ◽  
Economic Theories ◽  
Classical Economics ◽  
Wealth Of Nations ◽  
Economic Thinking

In the year 1749 Adam Smith conceived his theory of commercial liberty and David Hume laid the foundation of his monetary theory. These two intellectual developments, despite their brevity, heralded a paradigm shift in economic thinking. Smith expanded and promulgated his theory over the course of his scholarly career, culminating in the publication of The Wealth of Nations in 1776. Hume elaborated on the constituents of his monetary framework in several essays that were published in 1752. Although Smith and Hume devised their economic theories in 1749 independently, these theories complemented each other and to a considerable extent created the structure of classical economics.

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