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Essay / Analyzing the Ideologies of Adam Smith vs. Karl Marx
Adam Smith and Karl Marx are both considered two of the twenty most influential people in the world during the millennium. They are both respected in their vision of creating a perfect society where everyone is happy. Adam Smith, a brilliant Scottish philosopher-political economist born in 1723, aimed for perfect freedom for all individuals through the capitalist approach. While Karl Marx, born in 1818, believed in individual freedom from society and logically criticized capitalism by explaining why it was irrational and why it would collapse. Determining what type of state would guarantee the greatest freedom to individuals was their main philosophical problem. They differed in their views on human nature, social decisions made in society, the role of competition, and the effects of the division of labor on human beings. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get the original essay Perfect liberty, according to Smith, will enable a system of natural liberty to be established in which each man, so long as he does not violate the laws of justice, is perfectly free to pursue his own interests in his own way . This self-interest produces a market and in fact produces perfect freedom. In Smith's theory of human nature, Smith suggests that human nature will turn the beneficence of the rich toward the poor out of sympathy for their condition. Marx disagreed with Smith's passions regarding human nature and the phenomena of sympathy. Marx said that because it was always in the economic interest of capital to profit or exploit workers, nothing could persuade capitalists to change their ways. He believed that peaceful progress toward equality and social justice was impossible. According to Marx, the only way to establish justice was for workers to overthrow the capitalists through violent revolution. He urged workers around the world to revolt against their leaders. Marx says that all injustice and inequality is the result of an underlying conflict in society. He believed that there was a class struggle between the class of people who can afford to own money-making businesses or the bourgeoisie, and the class of people who do not have money to buy supplies and are therefore obliged to work for a salary which he called workers. , or the Proletariats. He believed that capitalism was the cause of this conflict. Marx also believed that capitalism turned people into machines. The population would migrate to urban areas to find work in factories. There was no protection for them, there were low wages, horrible working conditions and many tragedies occurred during this time. Smith believed that the market should be the main driver and focus on society and the economy other than the state. His theory on the role of the state is an approach where the rich stay out of the state and let the market do what it wants. He believed in the concept of the invisible hand, which transforms man's private interests and passions into public good. He believed in free competition, where people compete, prices are reasonable, which encourages them to shop. He makes a strong argument that this theory of affirming a free market will bring overall good to society. It ensures the availability of goods that people want, encourages efficient use of resources and production, promotes innovations and productivity, and results in an unfettered market where more goods.