Compare And Contrast Adam Smith And Adrl Marx
analytical Essay
737 words
The two great minds of Adam Smith and Karl Marx have just as many similarities as they have differences. Both want to help the general populous by reducing poverty. Both have a distaste for big business and elitists. Both believed that the most valuable entity in an economy was labor and the ability to produce goods. Both were philosophers and economists that put great thought into the morals of their economic systems. Despite having common goals and beliefs, they differed in how to achieve an economy that worked for everyone, not just the über wealthy. Adam Smith developed an economic system based upon private business, competition, and limited government involvement. He believed that an invisible hand would guide the market towards increased …show more content…
In this essay, the author
- Explains that adam smith and karl marx had similar goals and beliefs, but differed in how to achieve an economy that worked for everyone.
- Analyzes how adam smith developed an economic system based on private business, competition, and limited government involvement. he believed that an invisible hand would guide the market towards increased productivity and lower prices.
- Analyzes smith's argument that greed and selfishness improve the standards of living and thus benefit society as a whole.
- Explains that marx believed capitalism was not the best way to achieve the goals of lesser poverty and the prevention of businesses becoming too large. the bourgeoisie participated in the exploitation of workers by increasing working hours and reducing wages.
- Compares marx and smith, two people with a common goal of reducing poverty, with completely different opinions on how to achieve it. smith believes in the power of the invisible hand to guide businesses to help the poor.
Marx believed that capitalism was not the best way to achieve the goals of lesser poverty and the prevention of businesses becoming too large. What he used as evidence were the different classes, the working class proletariat and the capitalist bourgeoisie. The bourgeoisie participated in the exploitation of workers by increasing working hours, reducing wages, and requiring that laborers be more productive. There was little risk involved if a worker was to die or become unable to work. Most laborers were unskilled and could be easily replaced with a member of the Reserve Army. These horrible conditions coined the term The Race to the Bottom. This is the idea that businesses will do everything within their powers to cut costs, allowing for them to have larger profits or a lower selling price to undercut their competition. The Race to the Bottom isn’t just an idea; it is a reality. Businesses cut wages, decrease the safety of the work place, and squeeze as much as they can out of their workers. Out of necessity, governments have had to pass laws and regulations to keep workers and consumer safe.
Marx and Smith, two people with a common goal of reducing poverty, with completely different opinions on how to achieve it. Smith believes in the power of the invisible hand to guide businesses to help the poorest of society. Marx believes in the power of the people themselves to help those in the lowest economic classes of society. Each solution is not without its flaws or
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- Industrial Revolution Seminar Questionsexplanatory essayAdam Smith's view was that a free market would help everyone, poor and rich alike. It would increase the production of goods so that more would be affordable to everyone. A growing economy would make capitalists invest in new ventures.
In this essay, the author
- Explains that rich landowners took over land previously owned by peasants and migrated to cities, which triggered the industrial revolution.
- Explains how the use of coal, which would power steam engines, as a source of energy greatly helped trigger the industrial revolution.
- Explains that britain had large supplies of coal to power steam engines, and iron to build machinery. trade from a growing overseas empire aided the growth of british economy and allowed the business class to gain capital.
- Explains that population explosion, agricultural changes, and the increasing demand for more workers led to urbanization, or the migration of people to cities.
- Explains that the industrial revolution was made possible by a revolution in agriculture, which improved farm productivity.
- Explains that utilitarians believed that the goal of society was to achieve the greatest amount of happiness for as many people as possible.
- Explains that marx viewed history as driven by economics, and that the proletariat would take over the means of production to set up a society in which wealth and power was equal.
1306 wordsRead More - Comparing Adam Smith and Karl Marxanalytical essayComparing Adam Smith and Karl Marx Smith and Marx agree upon the importance of capitalism as unleashing productive powers. Capitalism is born out of the division of labour... that is, it is made possible by dividing jobs up into simple tasks as a way of increasing efficiency. By increasing efficiency, then everyone can produce more than they personally need. The extra produced can go towards the accumulation of capital, (machines, more land, more tools, etc) which will allow for even more increased efficiency and production. Both thought that this increased production was great.
In this essay, the author
- Compares adam smith and karl marx on the importance of capitalism as unleashing productive powers.
- Explains that smith thinks that as everyone produces more, they have more to sell (exchange) and everyone will be happier.
- Explains that marx points out that the means of production are owned by only a small group of the population and most other people don't. the proletariat cannot sell their produce, only their labour-power.
- Argues that smith and marx agree that capitalism requires ever expanding markets. smith believes that jobs cannot be divided down too much unless the market continues to grow.
- Analyzes how smith and marx agree that if there are too many people and too little jobs, wages are lowered.
562 wordsRead More - Karl Marx and Adam Smithanalytical essayKarl Marx and Adam Smith wrote in the same time period – during the industrial revolution, where the bourgeois had risen to power by oppressing and exploiting the proletariat. The term bourgeois refers to the people in the class of modern capitalists, owners of the means of social production and employers of wage labor. The proletarians are the people in the class of modern wage laborers who, having no means of production of their own, are reduced to selling their labor power in order to live. While Smith, in his Wealth of Nations, wrote in favor of capitalism, Marx, in his Communist Manifesto, was a harsh critic of the system and declared its inevitable destruction and consequent rise of the working class.
In this essay, the author
- Analyzes how marx favors the abolition of bourgeois private property, which is wage-labor by workers, creating capital — the kind of property that exploits workers.
- Opines that marx's arguments in the communist manifesto raise the question of why capitalism has survived.
- Analyzes how marx failed to foresee a compromise between socialism and capitalism. he proposed to eliminate mental and physical superiority amongst workers by having only one class in society.
- Explains that karl marx and adam smith wrote during the industrial revolution, where the bourgeois oppressed and exploit the proletariat. marx, in his communist manifesto, was a harsh critic of the system.
1390 wordsRead More - Compare And Contrast Karl Marx And Kuyperanalytical essayTwo great writers, whose ideas have been read by many, are Karl Marx and Abraham Kuyper. Marx was a philosopher and because of his writing about Communist many places responded with revolutions. Kuyper was a Christian leader inspired many with his writings about society and culture. Marx and Kuyper both addressed how social issues in the world. Marx and Kuyper’s views of human nature are very different. While Kuyper believes that God shapes our lives and humans have no control; Marx, on the other hand, believes that human beings can shape and control the direction of their own lives. Both men show their beliefs of human nature through history, government, economy, and society. Though they both believe in equal society they don’t agree on the
In this essay, the author
- Compares karl marx and abraham kuyper's views of human nature. both men believe in equal society, but disagree on how a perfect society can be achieved.
- Analyzes how marx uses the french revolution as an example of an event caused by class struggle.
- Analyzes how kuyper disagrees with the french revolution's cause, stating that it was the result of people throwing away god for individualism.
- Explains that marx argues that government is another aspect of society that should be equal. the government should own the land and redistribute it to everyone, equally.
- Analyzes how kuyper states that government controls the social life of its country and its connection with material wealth. the government, which should have protected the weak, became an instrument against them.
- Analyzes how marx argues for the equal distribution of industry and laborers, arguing that communism does not let people rule over or control other people.
- Analyzes how kuyper explains that we live in a world where the strong eat the weak, leaving them with nothing. jesus felt bad for the rich and sided with the poor.
- Explains marx's view that the social problem of society is private property and the different social classes. the ruling classes have too much power and only leave the scraps for everyone else.
- Analyzes kuyper's argument that the social problem of society is sin. humans are born sinful and are full of evil desires, like greed and selfishness.
- Explains that marx's solution to the problems with society is communism. he says that communist is the ideal-- perfection.
- Explains kuyper's solution to the problems with society is god. he says that human beings can be more compassionate towards the poor and treat each other like equals.
- Opines that to fully evaluate these ideas, it is necessary to understand the assumptions they are founded on. marx assumed that everyone would be content after communism, while kuyper assumed everyone will be godly. human nature is to be better than everyone else.
- Opines that kuyper is correct when he says that only through god will these problems of society be fixed. communism will never be utopia because humans are sinful and greedy individuals.
1384 wordsRead More - Adam Smith's Political Philosophiesexplanatory essayAdam Smith was a philosopher whose political philosophies was based off of economics. He believed to some extent that there should be a redistribution of wealth, but at the same time there should be a limit to government interference in economy. He wanted the state to end politics that favor industry over agriculture or vice versa, and that business should be left to the business people. He also believed that the government cannot make people virtuous with laws, and that the state should not promote religion or
In this essay, the author
- Explains that adam smith was a philosopher whose political philosophies were based off of economics. he wanted the state to end politics that favor industry over agriculture, and that business should be left to the business people.
88 wordsRead More - Adam Smith v. Karl Marxanalytical essay...both of their ideas. They seem to use similar methods, using logical statements to convey their points that seem to very much contrast each other. Marx’s philosophies deal with improving society for the better to reach industrial prosperity while Smith believes that the incentives of a free market will allow this happen and that human nature will cause Marx’s theory to fail. In the end both men want one common goal which is the best possible economic system for society because both realize that economics is single greatest controller of the major aspects of society.
In this essay, the author
- Opines that adam smith's stance is more credible than marx'. smith believes that each person has the right to the pursuit of happiness.
- Argues that marx and communism are wrong by saying that everyone is the same and no one is any different than the next.
- Opines that smith is correct about the advancement of technology, the support of individualism, and economic differences.
- Opines that being raised in a capitalist society makes them side with smith more because that is what they believe to be right and just.
- Describes the contrasting viewpoints of adam smith and karl marx.
- Compares adam smith and karl marx's views of economics, which they believe to be the controlling factor for all political and social aspects in society.
- Analyzes how marx sees the potential for intellectual growth that can take society to a new level in fairness and equality.
- Analyzes smith's view that all men are laborers in a free economic society. they argue that social conditioning is stopping workers from leaving their jobs.
- Analyzes how marx's writings and ideas struck a vivid chord among many people, that the communist system was tried around many parts of the world.
- Analyzes how smith's description of the capitalist process is effective in describing the view of an individual in society. both writers seem to have valid arguments for both of their ideas.
- Cites marx, karl, a world of ideas, ed. lee jacobus, boston, 1998.
- Describes smith, adam, and jacobus' views on the principle of the commercial or mercantile system.
2228 wordsRead More - Adam Smith Essayanalytical essay“It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.” This is a quote from the book Wealth of Nations, which Adam Smith wrote, addresses well about why and what reason people work for. The butcher, the brewer, or the baker does not cut, stir, or bake because they want to please the customer or to feed the poor, but to earn money and for their own happiness. Adam Smith, who fully understood the concepts of capitalism and free market system, became one of the most well respected economists throughout the world. Smith became famous because of his philosophy of economics. Because of his thoughts on economics, today he is well known as the “father of economics.”
In this essay, the author
- Quotes adam smith's book wealth of nations, which addresses why and what reason people work for. the butcher, the brewer, or the baker does not cut, stir or bake because they want to please the customer or feed the poor.
- Narrates how adam smith was born in kirkcaldy, scotland. his father was a lawyer who married margaret douglas in 1720 and died two months after his birth.
- Analyzes how the book, wealth of nations, plays a major role in studying smith's idea on economics. the book defends the free market policies.
- Explains that the wealth of nations consists of two volumes divided into five books. the first book covers the causes of improvement in the productive powers of labour and the order according to which its produce is naturally distributed among the different ranks of the people
- Explains that smith's book, "of the causes of improvement," talks about the division of labor and the wage of labours.
- Explains smith's explanation of the differences in the wages of individual professions in wealth of nations. the agreeableness of employments, cheapness, constancy, inconstancy, trust, and probability of success make up for small pecuniary gain.
- Argues that the wage differs in profession because of five reasons: ease or hardship, cleanliness or dirtiness, honourableness or dishonour
- Explains that smith's book, "of the nature, accumulation, and employment of stock," addresses the accumulation of capital.
- Analyzes adam's concept of the invisible hand, which guides free markets and capitalism through competition for scarce resources, and laissez-faire which states government should intervene as little as possible in economic affairs.
- Explains that adam smith strongly denied the idea of mercantilism in his fourth book, of systems of political economy. free market opens up new markets for more profits and lowers the cost of goods if they are imported.
- Explains that smith's fifth book, of the revenue of the sovereign or commonwealth, addresses about his thoughts on sovereigns.
- Explains that adam smith fully understood how wealth can be accumulated. his concepts of capitalism and free market are still the root of many nations and bring wealth to these nations.
1020 wordsRead More - Adam Smith Essayanalytical essayAdam Smith was a man of many achievements. As a Scottish philosopher and political economist he became famous by his classical and influential books. In 1759 he wrote a book called “The Theory of Mortal Sentiments”and in 1775 he wrote another called “An Inquiry to the Nature and Causes of the Wealth of Nations”. Known as the “father of modern economics” Adam Smith has greatly influenced society. Adam Smith’s history impacted the way that our society is today. Adam’s childhood, environment, education and events throughout his life contributed to the way that we view society. With Adam’s theories and great works he molded a pathway to different stand points on the public and its society. Among his great works are the wealth of nations and inquiry to the nature and causes of the wealth of nations alongside the theory Adam named the invisible hand. Adam also thought about the public from an economic and political stand point. Due to factors that influenced Adam’s early life, he was able to learn from those before him to become the great economist, politician, and philosopher that he was. This way, even though Adam Smith lived during the time of the scientific revolution his words of wisdom in politics and the economy are still used today in the public.
In this essay, the author
- Explains that adam smith, a scottish philosopher and political economist, became famous by his influential books, including the theory of mortal sentiments and an inquiry to the nature and causes of the wealth of nations
- Explains that adam smith was born on june 5th, 1723 in kirkcaldy, scotland. he was raised by a widowed mother, who gave him an education to support his mother and himself.
- Describes adam smith's "invisible hand theory" in his book, wealth of nations.
- Explains that every individual labors to render the annual revenue of the society as great as he can. he is led by an invisible hand to promote an end which was no part of his intention.
- Explains that the invisible hand guides markets and capitalism through competition for rare resources and is the natural way of the economy.
- Explains that adam smith's wealth of nations and the theory of mortal sentiments were two of adams' greatest works that impacted society.
- Analyzes how adam smith's theories changed the course of wealth, trade, and labor. his views were political and economic, thus helping the public economy and politics develop during the life and after the death.
847 wordsRead More - Industrialism Essayargumentative essayThe man whose writings “most reflects and explains the character of the early Industrial Revolution” was enlightenment thinker Adam Smith (Sanders 223). To this very day, he is still referenced as one of the most important economic theorists throughout history. Through his writing in The Wealth of Nations (perhaps his biggest piece of work) in 1776, he essentially created the theory of free-market capitalism and the laissez-faire model that is still used today.
In this essay, the author
- Explains that andrew carnegie was a staunch believer in the free-market system and advocated for the social darwinist theory of survival of the fittest and self-determination.
- Analyzes how smith and carnegie were concerned about the "proper administration of wealth", or how money was being distributed among society. they believe that the wealthy had a duty to serve the poor by investing money in trusts and public works.
- Explains karl marx's theory and philosophy, which was coined as marxism, in his book, the communist manifesto.
- Explains that the industrial revolution was pivotal in the world's history. the enlightenment thinker adam smith created the theory of free-market capitalism and the laissez-faire model in the wealth of nations.
- Compares marx's communist and free-market capitalist visions. smith and carnegie strongly support the laissez-faire, hands-off attitude of the government.
1315 wordsRead More - Kuyper Against Marxanalytical essayIn Marx’s opinion, the cause of poverty has always been due to the struggle between social classes, with one class keeping its power by suppressing the other classes. He claims the opposing forces of the Industrial Age are the bourgeois and the proletarians. Marx describes the bourgeois as a middle class drunk on power. The bourgeois are the controllers of industrialization, the owners of the factories that abuse their workers and strip all human dignity away from them for pennies. Industry, Marx says, has made the proletariat working class only a tool for increasing the wealth of the bourgeoisie. Because the aim of the bourgeoisie is to increase their trade and wealth, it is necessary to exploit the worker to maximize profit. This, according to Marx, is why the labor of the proletariat continued to steadily increase while the wages of the proletariat continued to steadily decrease.
In this essay, the author
- Analyzes how kuyper and marx differed on the cause and solution to the poverty and despair in the modern world.
- Analyzes marx's view that poverty is due to the struggle between social classes, with one class keeping its power by suppressing the other classes.
- Analyzes marx' claim that the bourgeoisie took advantage of the proletariat through a horrible ratio of wages to labor and other atrocities.
- Analyzes how kuyper recognizes the social problems of the industrial age, but attributes the cause of poverty to individual greed, misguided thinking, and human sinfulness rather than a widespread clash between social classes.
- Analyzes kuyper's claim that certain individuals in every society have always been able to twist society into their own control, not because the higher class is inherently worse than the lower class, but because of the sinfulness and greed of man.
- Explains that marx's solution to poverty and social injustice is communism. the principles of communism are elimination of private land ownership, graduated or progressive income tax, confiscation of rebel and emigrant property, state control of money and credit, universal labor, combination of agriculture and manufacture
- Opines that kuyper's solution is christian action. he believes that various christian social agencies can cause social change through political and charitable actions.
- Analyzes how karl marx would consider abraham kuyper one of bourgeois socialists he mentions in the manifesto.
- Analyzes how kuyper views marx as a democratic socialist and believes that social-democracy is the root problem of the industrial age's despair.
- Opines that marx's arguments are brutal and sacrifice much that should not be sacrificed. kuyper’s revolution is too costly.
- Argues that poverty and disparity between the rich and the poor still exist in the twenty-first century. depression has reached epidemic proportions due to increased hostility or marginalization of religion and a lapse of christian intervention.
- Argues that communism lacks the ability to function as evidenced by the collapse or rise of dictators in "communist" countries that defy the equality and shared power that the communist state is supposed to protect.
- Analyzes how kuyper's approach saved the industrial age and brought the injustice and poverty of the workers to the forefront of public thought.
- Concludes that marx's blunt amputation-like approach to poverty is less suited to the problems of the twenty-first century world than kuyper’s methodical approach.
1801 wordsRead More