Labor as fictitious commodity from "summary" of The Great Transformation by Karl Polanyi
Karl Polanyi explores the idea that labor is considered a fictitious commodity in the modern market economy. He argues that treating labor as a commodity for sale is fundamentally flawed because it fails to recognize the intrinsic human element of work. In a market economy, labor is bought and sold like any other commodity, such as land or raw materials. However, unlike these tangible goods, labor involves the physical and mental capacities of individuals, making it inherently different from other commodities. By reducing labor to a commodity, societies strip away the social and cultural significance of work. Work is not merely a means of earning a living; it is a way for individuals to contribute to society, express their creativity, and fulfill their sense of purpose. When labor is treated as a commodity, these essential aspects of work are overlooked, leading to a devaluation of human dignity and well-being. Polanyi argues that the commodification of labor has far-reachin...
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