Adam Smith And Karl Marx

1924 Words Oct 17th, 2014 8 Pages
In his book Born in Blood & Fire, John Chasteen defines Progress as any transformation that made Latin America similar to European and US models, resulting in human improvement. These transformations included the application of advanced technology, new political aspects, and economic growth. Neocolonialism was born from Progress, which can be explained as the influence foreign countries had on Latin America’s colonization. There was, however, different views on which way Progress should be achieved Latin America. Adam Smith and Karl Marx are examples of the main two views. Adam Smith, a Scottish Philosopher, was a critique of controlled markets and supported the idea that consumers should be able to engage in a free market in order to achieve overall self- profit. As a believer in capitalism, Smith also viewed private property and overall self- interest as positives. Implementing these ideas without the interference of the government, Smith believed, led to unlimited wealth and the most desirable economic outcome. Karl Marx, on the contrary, believed that poor people suffered for the benefit of the higher social class. Co-author of the famous document, The Communist Manifesto, Marx supported communism, the abortion of distinguished social classes, and developed into one of the widely known critics of capitalism; Marx believe that the idea of capitalism gave an advantage to the people who were already rich and gave no opportunity for the working class to rise socially or…

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