Research Article

The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences

Volume: 5 Number: 2 November 30, 2019
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The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences

Abstract

The present paper attempt at comparing two opposite accounts, developed to explain the same phenomenon, the rise of fascism and socialism in Europe in the 1930s, namely, Karl Polanyi’s The Great Transformation, and Friedrich A. Hayek’s The Road of Serfdom, in reference to the notion of the “unintended consequences.” The idea of unintended consequences, postulates, as an answer to the problem of “order” that even though the actions of individual human beings are carried out on their intentions, they will have some consequences that were not intended by any of these individuals, is taken as a reference point because both Polanyi and Hayek use this idea as an important ingredient of their social theories. However, it is argued in the paper firstly that the idea of unintended consequences cannot fulfil its promise, namely to explain the social order, especially in Hayek’s case. In Hayek, it remains essentially a mere abstraction and reduces to a functional argument based on the “representative individual” whereas in Polanyi it was conceived in terms of interactions between individuals who belong to different sections of the society, and thus it is helpful in presenting the institutional strains and contradictions of capitalism on a more concrete level. But, secondly, it is argued that it is not the differences in the use of the idea of unintended consequences per se but the difference between the respective visions of these two thinkers, concerning human beings and freedom, which actually constitutes the essential, unbridgeable gap between their social theories.

Keywords

References

  1. Bhaskar, Roy (1979), The Possibility of Naturalism: A Philosophical Critique of the Contemporary Human Sciences, Brighton: Harvester.
  2. Berlin, Isaiah (1969). “Historical Inevitability,” in Four Essays on Liberty, Oxford, New York, Oxford University Press.
  3. Caldwell, Bruce (1997), “Hayek and Socialism”, The Journal of Economic Literature, Vol. 35, No. 4, p. 1856-1890.
  4. Caldwell, Bruce (2004), Hayek’s Challenge: An Intellectual Biography, Chicago: Chicago University Press.
  5. Dalton, George (ed.) (1968). Primitive, Archaic, and Modern Economies: Essays of Karl Polanyi, New York: Anchor Books.
  6. Giddens, Anthony (1981). A Contemporary Critique of Historical Materialism (vol. 1:) Power, Property and State, London: Macmillan, 1981.
  7. Giddens, Anthony (1984), The Constitution of Society: Outline of the Theory of Structuration, Cambridge: Polity Press.
  8. Gould, Stephen J. and R. C. Lewontin (1979), “The Spandrels of San Marco and the Panglossian Paradigm: A Critique of the Adaptationist Programme”, Proc. B. Soc. Lond. B, Vol. 205, p. 581-98.

Details

Primary Language

English

Subjects

-

Journal Section

Research Article

Authors

Publication Date

November 30, 2019

Submission Date

July 16, 2019

Acceptance Date

November 30, 2019

Published in Issue

Year 2019 Volume: 5 Number: 2

APA
Özel, H. (2019). The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences. Yildiz Social Science Review, 5(2), 135-154. https://doi.org/10.51803/yssr.592786
AMA
1.Özel H. The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences. YSSR. 2019;5(2):135-154. doi:10.51803/yssr.592786
Chicago
Özel, Hüseyin. 2019. “The Road to Serfdom Against The Great Transformation: A Comparison With Reference to Unintended Consequences”. Yildiz Social Science Review 5 (2): 135-54. https://doi.org/10.51803/yssr.592786.
EndNote
Özel H (November 1, 2019) The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences. Yildiz Social Science Review 5 2 135–154.
IEEE
[1]H. Özel, “The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences”, YSSR, vol. 5, no. 2, pp. 135–154, Nov. 2019, doi: 10.51803/yssr.592786.
ISNAD
Özel, Hüseyin. “The Road to Serfdom Against The Great Transformation: A Comparison With Reference to Unintended Consequences”. Yildiz Social Science Review 5/2 (November 1, 2019): 135-154. https://doi.org/10.51803/yssr.592786.
JAMA
1.Özel H. The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences. YSSR. 2019;5:135–154.
MLA
Özel, Hüseyin. “The Road to Serfdom Against The Great Transformation: A Comparison With Reference to Unintended Consequences”. Yildiz Social Science Review, vol. 5, no. 2, Nov. 2019, pp. 135-54, doi:10.51803/yssr.592786.
Vancouver
1.Hüseyin Özel. The Road to Serfdom against The Great Transformation: A Comparison with Reference to Unintended Consequences. YSSR. 2019 Nov. 1;5(2):135-54. doi:10.51803/yssr.592786

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