Karl Marx Essay | Student Essay

This student essay consists of approximately 2 pages of analysis of Smith vs. Marx.
This section contains 407 words
(approx. 2 pages at 300 words per page)
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Smith vs. Marx

Summary: A comparison between Adam Smith's arguments for a free-market economy and Karl Marx's arguments for communism. Both individuals sought to attain a stable economy and government and to reduce class tensions by ensuring a larger middle class. While Smith and Marx supported completely different approaches to achieve these ends, neither of their proposed systems proved to be completely infallible.
While it may seem as if capitalism and communism are complete contradictions of each other, they do have some similarities along with their many differences.

Both Adam Smith and Karl Marx hoped to attain a stable economy and government through their separate systems. They both wished to reduce class tensions by ensuring a larger middle class. However, each went about it in very different ways.

In his ideas on capitalism, Smith believed that by leaving government completely out of the economy, people would be driven to work hard in order to make a living. He believed that "an invisible hand" would ensure the success of the economy, and that the system would be guaranteed because of human nature. If work got too difficult or the pay was too low, he reasoned that workers would not be tolerant. This system would enlarge the middle class and greatly decrease...

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This section contains 407 words
(approx. 2 pages at 300 words per page)
Buy the Student Essay on Smith vs. Marx
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