Comparing Adam Smith and Karl Marx Essay -- Politics Political Essays

Comparing Adam metalworker and Karl MarxSmith and Marx agree upon the splendor of capitalist economy as unleashing productive powers. Capitalism is born out of the subdivision of labour... that is, it is made possible by dividing jobs up into simple tasks as a way of increasing efficiency. By increasing efficiency, then everyone can fetch to a greater extent than they personally need. The extra produced can go towards the accumulation of capital, (machines, much land, more tools, etc) which will allow for even more increased efficiency and production. Both thought that this increased production was great. But Marx said that capitalism was only one stage... that every country must go through capitalism, to get that increased production, but that capitalism is unstable. It requires expanding markets and will end up creating a large gap between the wealthy and the poor, with more and more people becoming poor. Because of this instability, he thought that it would eventually collap se. However, here is where they split. Smith thinks that as everyone produces more, they have more to sell (exchange) and ever...