Adam Smith was an economist from the mid-late 1700’s and he was able to explain the knowledge of Capitalism; elaborating on how to make money from the free markets that was influential to survival at that time. He wrote a book, An Inquiry Into the Nature and Causes of the Wealth of Nations, which describes the origins of Capitalism in great details with petty examples of this logic set in motion. On the other side of the spectrum, Karl Marx and Friedrich Engels both produce a collaborative piece called The Communist Manifesto which heavily criticizes the bourgeoisie, and pushes for a lifestyle in which all property is government owned; eliminating the class system and having all people of the nation work for the same salary. There is a stark
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Both in a sense describe how government should be run and the drastic impact it has on its people. Smith describes in his first paragraph that every person is out to make money or be as wealthy as possible, so people look for a job or ,if they start their own job, employers that will make him or her the wealthiest. However people are selfish and are only out to better themselves, the only reason society benefits from this is that employment betters the economy (Smith 660). “Smith also argued that capital for the production and distribution of wealth could work most effectively in the absence of government interference” (Welch). To elaborate, Smith truly believes that achieving wealth is main goal of all humans on earth. In theory, as long as everyone works and works to the best of their they will become rich, and this system is a win-win situation because economy from trade would skyrocket from the multitude of people being employed. Smith also discusses some strategies to making money and maximizing profit for one’s self. For example, to make …show more content…
One can argue that from Smith’s point of view, individuality exists in the way a person can make money; everyone has their own ideas and everyone can and will use those ideas to make money. It is the idea of expressing or employing certain strategies in a way that profits any one person the most but ultimately benefiting society as a whole and directly branches to competition. “Competition forces them to improve the way they are organized and make a better use of the resources available” (Netivist). This is how people would express their individuality by creating new methods of trade and production that in turn advances our society. Equally the same people who agree with Smith and the idea of Capitalism would completely be against Communism, saying how it destroys individuality if everybody would be apart of the same class. However, Marx responds, “the Bourgeoisie already does this [destroys individuality] for everyone but themselves; the working people of the world must unite” (Mullan, CAL-105-I, 12/07/2016). Marx believes that high class rips free thought away from those who are not rich enough, and to an extend this is true; it is safe to say both systems have their faults and benefits as present times dictates both economies
Both in a sense describe how government should be run and the drastic impact it has on its people. Smith describes in his first paragraph that every person is out to make money or be as wealthy as possible, so people look for a job or ,if they start their own job, employers that will make him or her the wealthiest. However people are selfish and are only out to better themselves, the only reason society benefits from this is that employment betters the economy (Smith 660). “Smith also argued that capital for the production and distribution of wealth could work most effectively in the absence of government interference” (Welch). To elaborate, Smith truly believes that achieving wealth is main goal of all humans on earth. In theory, as long as everyone works and works to the best of their they will become rich, and this system is a win-win situation because economy from trade would skyrocket from the multitude of people being employed. Smith also discusses some strategies to making money and maximizing profit for one’s self. For example, to make …show more content…
One can argue that from Smith’s point of view, individuality exists in the way a person can make money; everyone has their own ideas and everyone can and will use those ideas to make money. It is the idea of expressing or employing certain strategies in a way that profits any one person the most but ultimately benefiting society as a whole and directly branches to competition. “Competition forces them to improve the way they are organized and make a better use of the resources available” (Netivist). This is how people would express their individuality by creating new methods of trade and production that in turn advances our society. Equally the same people who agree with Smith and the idea of Capitalism would completely be against Communism, saying how it destroys individuality if everybody would be apart of the same class. However, Marx responds, “the Bourgeoisie already does this [destroys individuality] for everyone but themselves; the working people of the world must unite” (Mullan, CAL-105-I, 12/07/2016). Marx believes that high class rips free thought away from those who are not rich enough, and to an extend this is true; it is safe to say both systems have their faults and benefits as present times dictates both economies