Adam Smith

A detailed Summary of Adam Smith

Adam Smith vs. Karl Marx Being reared in the typical capitalist community in the United States, it is much easier for me to relate to the thoughts of Adam Smith. This is not to say that I do not agree with some of the precepts of pure Communism, but like the old adage says, Communism looks good on paper, but in practice, it is completely ineffective. Historically, this form of government does not tend to succeed because of many factors. Some of these include basic economic differences, individualism, and technology and how it advances or serves as a detriment to the state. My stance is clear: I believe that Adam Smith has the more credible stance. Beginning with the economic side of the discussion Smith takes a Western approach in his thought processes. He states in so many words that workers are continually looking for the best job and the best wage. Marx believes that a wage-labor war will break down society and cause a downfall of the economic structure. The Capitalist belief is that each individual is continually exerting himself to find the most advantageous employment for whatever capital he can command (Smith 15). Smith says also in paragraph 15 that it is human nature for a person to better society while bettering himself.

have been reproached with the desire of abolishing the right of personally acquiring property as the fruit of a man's own labor, which property is alleged to be the groundwork of all personal freedom, activity and independence (Marx 55). In the Constitution under which we live as Capitalist says that each citizen has the right to personal property, Communism goes against everything that the American society is based on, which in my opinion is wrong and unjust. ...Differences of age and sex have no longer any distinctive social validity for the working class. All are instruments of labor, more or less expensive to use, according to their age and sex (Marx 31). From this quote he takes away the freedom of expression that we live under in the United States. Marx makes everyone out to be the same with no one having special abilities or personalities. In my opinion Marx and Communism are wrong by saying that everyone is the same and no one is any different than the next. Being a Christian I believe that everyone is different and special, the lack of diversity in the population makes it difficult for progress to advance and to stay ahead of the competition. In Adam's idea of society each person can do whatever they want to advance themselves and each person can pursue happiness in whatever fashion they believe to be the best. Technology creates new and better ways to do things which allow society to grow and become more advanced. In the Communi

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Approximate Word count = 975
Approximate Pages = 4 (250 words per page double spaced)

Category: English