Adam Smith: Wealth of Nations |
Karl Marx: Communist Manifesto |
Adam Smith was a Scottish philosopher and a pioneer of political economy. He is known as one of the significant figures during the Scottish Enlightenment, which was a period in time where intellectual and scientific accomplishment was common in Scotland during the 18th century. He is known as one of the fathers of modern economics and is one of the best economical thinkers of all time.
The Wealth of Nations as a whole is basically a book by Adam Smith about the ways to build a nations wealth using a capitalistic approach, furthermore boosting that nations economy. He believed that individuals controlled production and the markets set he prices. He also believed in eveything being private and wanted the government to have no say in bussiness. Some of the topics and things discussed in the book are division of labour, productivity and free markets, etc, there are endless topics discussed. Throughout the book there are five parts, in order the parts are Book I: Of the Causes of Improvement in the productive Powers of Labour, Book II: Of the Nature, Accumulation, and Employment of Stock, Book III: Of the different Progress of Opulence in different Nations, Book IV: Of Systems of political Economy, and Book V: Of the Revenue of the Sovereign or Commonwealth. |
Karl Marx was a philosopher, economist, sociologist, historian, journalist, and a revolutionary socialist. His ideas played a big part in social sciences, and the socialist movement. He is considered to be one of the greatest economics of all time including with Adam Smith.
Communist Manifesto is represents an analyzed approach to class struggles and the problems of Capitalism. This book was backed up by the Communist League, the book withheld the leagues future plans and its purposes. This book as a whole is about how communism and everyone being equal is a better approach to economics compared to the criticized economy approach of capitalism where there are classes (upper, middle, lower). He believed in the restrictions of individuals and state control of the economy, the exact opposite of what Adam Smith believed in. Marx also believed in the control of private bussiness and market/production by the government. |
Created by Mike McKee
Marple Newtown Senior High School
Created and Published March 1, 2013
Marple Newtown Senior High School
Created and Published March 1, 2013