Marx Vs Adam Smith Essay

Adam Smith’s work was the most influential of our time, shaping how most of the world, particularly the United States, practices economics to this day. In contrast, Karl Marx is a more controversial figure and the founder of the communist ideology. There is no question that the two had very differing ideologies, but one thing they have in common is that their principles were intended to benefit the good of the nation’s people. Many nations were influenced in some way by the principles of these men, and it’s important to consider that some things could still be learned off what these men advocated. Here are a few examples of the differing opinions of them both.
Smith believed in the idea of growing the economy, and increasing the wealth of the nation and its people. One of the many values he believed could achieve a growing economy is the idea of self command, which advocates for individuals to act upon their own economic

He points out the laborers do not gain property working for these people, and are instead exploited in order for the higher class to gain more wealth while the laborers live in poverty. In opposition to the values of Smith, Marx envision to abolish the idea of economic independence, and the social divide it creates by ensuring that capital be “converted into common property”, meaning every person shares in the wealth the nation generates. He wanted to the government to mandate the production of goods to be creating only what is believed to be needed for the people. Without doing so, he believed in time the surplus of products created would advance technology and would make it unnecessary for workers to keep working, and in turn create a disorganized