Adam Smith And Karl Marx

A nation is just a vast establishment, where the labour of each, however diverse in character, adds to the wealth of all. Two brilliant people of their time are both respected in their views for creating a near perfect society where everyone is happy. Adam Smith, a respected Scottish political economist philosopher born in 1723, had the goal of perfect liberty for all individuals through the capitalistic approach. While Karl Marx, born in 1818, believed in individual freedom for society and intellectually criticized capitalism giving reasons as to why it was irrational and why it would fail. Adam Smith’s very first sentence claims that, "The greatest improvement in the productive powers

Karl Marx and Max Weber were influential sociologists that paved the way for modern sociological school of thought. Both, Karl Marx and Max Weber contributed a lot to the study and foundation of sociology. Without their contributions sociology would not be as prominent as it is today. From the contribution of how sociology should be studied, to how they applied their theories to everyday life has influenced many sociologists. Predominantly, both of these theorists’ discussed the effects of capitalism, how it has developed, shaped and changed society into what it is today. Specifically, Karl Marx’s contribution of the bourgeoisie vs. the proletariat class and Max Weber’s social stratification has helped individuals to understand how modern day society has transformed into what it is today. Particularly, this paper will lie out Weber’s theory of social stratification and Marx’s theory of the bourgeoisie vs. the proletariat class; additionally this essay will also compare and contrast the ideas of these two influential sociologists. Finally this essay will criticize both of these sociologists’ theories and display that Marx and Weber do not explain how modern day society and classes have been formed.

Karl 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.

The simplistic perception of capitalist society varies greatly among Smith and Marx. Smith believed that capitalism is a mechanism designed to curb man's selfishness and put it to work for the general good of all (Baumol, 1976). Conversely, Marx believed that capitalism is based on neither good nor evil, but a product of historical circumstances or experience (Baumol, 1976). Marx also believed that the law of motion in capitalism frustrates, rather than facilitates, the individual ends (wealth). Marx believed that wealth divides capitalists by class, and that workers must develop in a universal class (Levine, 1998). Marx also disagreed with Smith in believing that production must cease to be a labor process if it

Adam Smith and Karl Marx both came from very different worlds, however they saw the world in similar ways. Both had thoughts derived from different views. Smith had a very capitalistic view on things, while Marx was socialist in many ways. They expressed their thoughts in ways that were surprisingly similar while other ideas were dissimilar. Ultimately socialism and capitalism can go hand in hand. One main idea that both works addressed was the productivity of work and the ability to accumulate property, stock and capital. They both wanted a wealthy nation but Marx believed that redistribution of wealth was the way to go. Smith believed in a free economic system that gave capitalists rights to accumulate their wealth.

Adam Smith and Karl Marx are both famous for their philosophies on economics, more specifically the division of labor. For each of them the division of labor is rather similar in its definition, but the outcome of the division of labor differs drastically from Smith to Marx. For Smith the division of labor leads to mass production and allows large amounts of people to get things that were once available only to the rich. Smith believes that small specialized tasks leads to the invention of new technologies, and that individuals working selfishly to better themselves in the capitalistic world is beneficial to everyone. For Marx the division of labor is more about the relationship between the employee and the employer. He believes that

The story “lord of the flies’’ by William Golding, the novel correlates to the philosophical views of John Locke and Thomas Hobbes. John Locke was an English philosopher that surmised man's natural moral compass would point towards good, Locke's philosophical writings stated “ that individuals in a state of nature would have stronger moral limits on their actions. Essentially, Locke thought that our human nature was characterized by reason and tolerance. People, Locke believed, were basically good’’ ( Locke and Hobbes Overview 2). John Locke thought if people were given no rules they would make a paradise, flourishing in law, order, and structure, Thomas Hobbes believed people were naturally cruel and chaotic, with a need of a strong ruler to make decisions. Hobbes stated, “Who felt that mankind was inherently evil and required a strong central authority to ward off this inclination toward an immoral behavior, Locke believed that human nature allowed men to be selfish’’( Locke and Hobbes Overview 2 ). Thomas Hobbes believed a strong iron-fisted ruler was needed for the safety and well being of a society. The ideals of man in a natural state, follow Thomas Hobbes philosophical view represented through Jack's brutish and monarch like attitude which lead to them living in a dystopian society.

Way back in 1776 the English economist Adam Smith asserted that a free market economy would best promote economic growth and raise living standards (Schiller, p.3). As he saw it, the pursuit of profits would induce capitalists to improve products, reduce prices, and advance technology also known as market capitalism (Schiller, p.3-4). He promoted the idea of laissez-faire meaning no government involvement (Schiller, p.4). On the other hand, Karl Marx, a German philosopher, had a different view of a market capitalism. Marx predicated that the capitalist system of private ownership would eventually self-destruct (Schiller, p.4). The capitalists who owned the land, the factories, and the machinery would continue exploiting working class until it rose up and overthrew the social order (Schiller, p.4). He believed that long-term prosperity

Human reason has been one of the guiding principles in our society since the beginning of time and because action is preceded by thought, these two go hand in hand. Every choice we make is based on our thinking process, differentiating between what is good or bad, and contemplating cause and effect. Machiavelli, Locke, and Marx all have distinct conceptions of human nature, which has led to a variety of conclusions regarding the political structures of society that still have resonance today, which goes to show how much of an impact their theories have.

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

Adam Smith born the year 1723 was thought to be one of the world’s greatest economists. In Fact he was known as the father of economy. He was also known by the way he thought and the way he wrote about the country's economy and in this paper I will explain the way he described and the way he thought of the economy and why his thoughts have carried on for the last two hundred years.

In the 18th century, a fierce debate broke out among many philosophers about the nature of the human psyche. Many argued whether humans in a state of nature were constantly at war with one another or whether these same humans were peaceful in their natural setting. From this debate, many other important philosophical arguments arose over the state of human nature. One of the most important arguments was the discussion of equality between human beings. Many authors believed that natural inequalities existed between human being. While others debated that human inequality was either negligible or completely non-existent. Within this debate, two thinkers, Thomas Hobbes and Adam Smith, came down with complex arguments on the equality of human beings. This essay will begin by walking through the argument of each influential thinkers. After establishing the argument of each writer the essay will then make the argument that Thomas Hobbes has a greater commitment to the idea of natural equality based off his that even though natural differences exist these are so negligible that their existence is unimportant.

Wendell Berry expands on a fundamental point from Adam Smith’s work The Theory of Moral Sentiments, which is also reflected in his work, The Wealth of Nations. That point is the concept of sympathy and why humans experience it and how it impacts our society and economy. Berry discusses sympathy in his lecture and concludes that sympathy is found in a certain type of person and that sympathy is based on a connection to one’s surroundings. Berry and Smith both share a similar understanding of human nature and what values are the best for individuals and society. Both Berry and Smith believe a society’s strength comes from an individual’s value of community and respect for others.

Though Karl Marx and Alexis de Tocqueville differ, they both contributed greatly to revolutionary concepts of their era. To better understand the analyses between politics, social, and economic changes Marx and Tocqueville discuss, we must first understand the shift of their time and the need for sociological analysis. The 19th century was a time of change and adaptation for everyone and few scholars were capable and willing to understand the impacts these changes would have on society and its entities. Both industrial and democratic revolutions affected their times and created shifts in society. The industrialization affected many aspects of society. It created a structural change in the economy shifting from agrarian income to industrial and commercial income. Technology impacted labour force and production shifting to large-scale manufacturing creating new types of investments. These changes affected class structure, migration, and workers which in turn affected economy and a shift in politics.

There is perhaps not a more famous ongoing dialectic argument in the field of political economy than the one between Adam Smith and Karl Marx in regards to capitalism. The two thinkers, although coming to radically different conclusions about the outcomes of the capitalist system for all parties involved, agree on a surprising number of ideas such as labor being the source of commodities’ value, as well as the fact that the division of labor increases productivity. However, their different conceptions of what determines the price of a commodity, the driving force behind and the effects of the division of labor, and the purpose of the capitalist system have widespread implications that cause their holistic arguments to diverge considerably.