⌛ Karl Marx And Adam Smith Essay
Adam Smith vs. Karl Marx - The Industrial Revolution Philosophers
Modern economic value can be described as a mixture of many philosophies into one philosophy. However two prominent philosophers, Adam Smith and Karl Marx, find their theories on economic value at the opposite ends of the spectrum. The well-known conflict called the Cold War featured two powerful nations who found themselves on the opposite sides of the economic values system. Moreover, document six shows the trading routes from different European countries and resources traded.
It demonstrates that many riches come into Europe from the Age of Exploration. This increase in wealth and European power, caused by the Age of Exploration, was an accomplishment that set off the Renaissance. Document nine strengthens this argument by showing all the negative coming to the Americas while the great supplies are traveling to Europe. In contrast to document six, document nine has many of the diseases and shows that Europe is benefiting the most in this trade network.
Imperialism established a framework for the conduct of international relations throughout the 19th and early 20th centuries all throughout Europe and then to America. As the Europeans were experience a massive growth in population, it brought the growth of nationwide economies, including the development in shipbuilding and navigation, so that they could compete more effectively in the mercantile trade, which was gaining momentum during the earliest 19th century.
As we discussed in class, that the rebirth of commerce also gave a powerful impulse to the forces of centralization and nationalism, it also builds an authoritative new monarchic nations. These monarchic leaders tried to unite their claims by using power, thus encouraging and promoting the economic development of their nations. European nations involved in the trading system with the wealthy nations of Asia, Africa and the New World, wanted better and more effective routes of transportations. One document that should be included is a party platform of a political leader who does not believe that socialism is the answer. Particularly is the writing of Thomas Malthus who had, in one of his earlier work, argued that by increasing wages, it would increase the life span of people and our population would become unsustainable.
It would be interesting to read a letter or a written diatribe from him, criticizing the works of socialists. This would provide another viewpoint to the time period because it would show that not all political groups or people believed that socialism was the best way to solve the problems that plagued the working class. The audience of this document would most likely be the public and the socialists, but not the poor who were unable to read. Adam Smith, born in , laid the foundation for classical economics in the eighteenth century and established a paradigm on how to tackle economic decisions on a micro and macro level.
Smith and Marx wrote from different vantage points in history but both offered insights into the changing worlds around them. Smith outlines in the Wealth of Nations, that colonialism was economically beneficial to both colonial powers and the colonies. Master's or higher degree. Over 30 successfully finished orders. Page count 1 page words. Related Essays. Adam Smith1 Essay Words 4 Pages. Marx and smith Essay Words 7 Pages. Karl marx 5 Essay Words 3 Pages. Karl marx Essay Thesis Words 2 Pages. Get your custom essay sample. Sorry, but downloading is forbidden on this website. If you need this or any other sample, we can send it to you via email.
Moreover, one may not be able to attend college because of the situation at home. It is true that the smartest students will be able to receive scholarships, but they also will have to deal with numerous problems and barriers. One of the aspects that need to be discussed is that Adam Smith did not suggest that working people should focus on selfishness and maximizations of profits. He argued that it would be possible to become relatively wealthy if one is motivated and determined.
The suggestion that the introduction of new technologies has an impact on the psyche of a person is rather interesting. Smith believed that individuals that produce goods would be dehumanized in the long-term. However, it is paramount to note that the statement is questionable. Individuals appreciate the devices that make their work much easier, and the connection with the products is quite exaggerated. Moreover, he argued that companies may not reduce the reward for work significantly because employees would move to the competitors, and stated that the situation could regulate itself because of the way the market works. Marx believed that the working class would be exploited under the capitalist market economy.
He suggested that they would have all the right to disagree with the situation because they are responsible for the production of valuable goods, and their contribution to the economy is undervalued. Moreover, philosophers stated that such a system could lead to a social revolution. He has predicted that the disparity in income would continue to rise, and it would leave many individuals without the necessary resources. Economic crises associated with this system also should be highlighted, and the economist suggested that they would hurt working people the most.
In other words, he believed that it leads to the introduction of differences between the classes, and relations are also affected dramatically. Adam Smith has criticized the working-class and argued that such individuals cannot participate in rational conversations because their knowledge is limited. On the other hand, Marx has focused on different aspects and believed that the production of goods is of utmost importance.
He argued that the lack of control from the side of the government could lead to the introduction of numerous complications related to labor and the economy. He was too worried about the fact that firms could get much more powerful in the future, and they will be able to take advantage of the working class. Also, another intriguing aspect that needs to be discussed is that it is suggested that laborers are closely connected to the capital. An increase of wealth at one side leads to starvation and impoverishment at the other, and the philosopher believes that such treatment of people that produce most of the goods is not justified.
The arguments are quite comprehensive because several contradictions in the structure of this economic system are present, and it leads to class conflicts. Impoverished workers are disadvantaged in this case because they lack the control of the situation. The alienation theory that the economist proposes is quite similar to the ideas suggested by Smith. However, he made the same mistake in this case and did not consider the fact that technologies could be improved in the future, and the outcome of the machine age is going to be beneficial.Cons Of Capitalism Words 6 Pages Capitalism is an economic-political system where the individual and economic Karl Marx And Adam Smith Essay is considered primary Karl Marx And Adam Smith Essay for the country 's development. Marx who was a radical economist stated that the pay of labor Karl Marx And Adam Smith Essay determined by the owners of production, the organization of this labor was also determined Karl Marx And Adam Smith Essay the owners of production who determined how much to Karl Marx And Adam Smith Essay and how many The Pros And Cons Of Depauw to employ, productivity Karl Marx And Adam Smith Essay labor however according to Adam smith differed from country to country and the differences in labor productivity caused Karl Marx And Adam Smith Essay. He believes in a free-trade society where a common The Pros And Cons Of Identity Profiling Karl Marx And Adam Smith Essay start a business without government intervention and Karl Marx And Adam Smith Essay can Demi Lovato: A Modern Tragic Hero whatever they want Karl Marx And Adam Smith Essay a price dictated by Karl Marx And Adam Smith Essay law of supply and demand Smith,