How Did Marx And Engels Promote The Common Welfare Of Society?

Adam Smith, Karl Marx and Fredrich Engels were three of the primary contributors to the modern economic society. Smith strongly believed that people operate for their own self-interest which led to his idea of capitalism. Capitalism is the idea that the individual controls trade instead of the state or country’s government. Smith believed that capitalism acted as a catalyst mechanism, enabling man to use his self-interests for the betterment of himself which in turn betters the society. In contrast, Marx and Engels believed that society owns the means of production, and through this, individuals are offered equal opportunities in life. This idea created the foundations for the communist society. With these definitions in mind, Karl Marx and Fredrich Engels would disagree with Smith’s quote. Individual self-interest does not create or promotes the common welfare of society for three reasons: division, thievery, and economic equality.
Marx and Engels would disagree with Smith’s quote because the establishment of capitalism creates a division in society. In a capitalist society, classes form from an individual’s relationship to the means of production. Marx and Engels believe that this relationship to commodity separates the rich from the poor. Thus, the bourgeoisie own
Since self interest is the primary concern of the bourgeoisie, they will do anything to maximize their profitability, including valuing a worker only for the labor they accomplish. In this way, the rich become richer and the poor become poorer. So, instead of encouraging the common good, Marx and Engels perceive the capitalist society as a den of thieves. They steal from the poor and hoard that wealth to invest in more. Smith’s vision of individual interest benefitting the people, therefore, does not align to the impartial communist society that Marx and Engels