Karl Marx Vs Adam Smith Analysis

Durkheim: What makes society progressive is the growth of a nation towards the better. What makes a nation powerful and grow is the division of labor. It has been apparent over the centuries of technological growth that within a society the more societal advancements there are, the more division of labor there is within the nation. Durkheim considered the division of labor has a natural law, one that not only was in humans but all organisms. Durkheim felt that although everything should be divided into his or her own labor, it was all for the greater good, the social solidarity.

The Industrial Revolution is one of the most influential periods in history that continues to shape our lives today. Originating in England in the 18th century, this period is characterized by rapid industrialization, a dramatic shift from the production of agricultural goods to manufactured goods, and an explosion of urban centres. Its impacts are great and can still be felt today: from the proliferation of wage labor and consumer culture to the establishment and maintenance of Western global dominance. Two great philosopher documenting and discussing this phenomena during the time are Adam Smith and Karl Marx. Writing from the 18th and 19th century respectively, both have written extensively on this so-called revolution. Yet, examining the

Adam 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

Compare and Contrast: Kant, Marx and Burke Notably, many philosophers and scholars believe that the past is a powerful stimulus that dictates a given country’s future. On the contrary, for some of them, the statement, “Do not allow yourself to be overawed by traditional beliefs and institutions. Slavish regard for the past prevents society from achieving a happier life,” seems very true. However, the past may not necessarily affect a society adversely. Indeed, philosophers such as Immanuel Kant, Karl Marx, and Edmund Burke have conflicted thoughts on the impact on traditions on a community’s future since Kant and Marx seemed to support the statement mentioned above while Burke was more conservative with this idea and believed that

Socialism is one of the roles of government in the economy. Adam Smith, who is the father of capitalism, believes in laissez-faire, "hands off" the government. He believes all production should be sale at the best possible lowest price. (Doc 5) While Adam Smith believes in capitalism, Engel is criticizing it. Engel believes the capitalism seizes everything for themselves but not the poor, they remain nothing. (Doc 7) Karl Marx, the author of a 23 page pamphlet, "The Communist Manifesto", and Engels recommend that all the working men of all countries should unite and is to be equal, should overthrow of all existing social conditions.

The accumulation of capital and the division of labor are what Adam Smith believed to be the driving forces of economic growth in any nation. Smith found that when the division of labor had broken down the production of almost any commodity into a series of simple operations it was more natural for tools and machinery to be invented that replace hand labor and expedite the entire production process, thereby increasing worker productivity. This increased productivity combines with the growing capital stock to increse national output which enables society enjoy higher levels of consumption, constituting a genuine rise in the wealth of the nation according to Smith.

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. But Marx said that capitalism was only one stage... that every country must go through capitalism, to get that increased production, but that capitalism is unstable. It requires expanding markets and will end up creating a large gap between the wealthy and the poor, with more and more people becoming poor. Because of this instability, he thought that it would eventually collapse.

Section 3: Karl Marx was the founder of communism, and also believed that government should make the economic decisions, so that everyone in society received a fair share of resources. Adam Smith obviously did not believe in the command economy. Adam Smith wanted the opposite of a command economy, which is the free market economy. The free market economy is where individuals in a society make the economic decisions, instead of

The father of modern day capitalism is what he was called. Smith developed the idea of the free market system. “The economy would be better with a free market system with some government control,” he proposed. This includes the ideas of tariffs, subsidies, regulations and among other examples. He devoted his time to laissez-faire. In his book, Wealth of Nations, he proposed that a nation's wealth should not be judged on gold and silver, but the total production and commerce (GDP). Though some disagreed about the idea Smith had of government intervention, he thought the government should not be involved in the economy or business. Therefore he outlined three important government duties; the government should intervene when it comes to national defense, administrating justice, and supplying certain things. His motivation was thinking about how members can use the market to make rational decisions about the economic

1. C. Wright Mill’s and Karl Marx shared the same views on capitalist society. In fact, they both were conflict theorists that believed certain groups and leaders kept a significant amount of power within society. Marx’s focus was on social class and how certain positions in the social class dictated one’s life. All things considered, Marx broke it down into two antagonistic classes, which are the proletariat and bourgeoisie.