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Karl Marx Vs Adam Smith Analysis

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Karl Marx Vs Adam Smith Analysis
It is undeniable that Karl Marx and Adam Smith had different opinions regarding what capitalism is all about. Adam Smith in the Wealth of Nations suggested that the free market where the people and their businesses have the liberty to create products as many as they can and impose prices depending on how high or low they want them to be would lead to the best and most attractive economic result for the people and the producers because of the “Invisible Hand.” Ion the other hand, Karl Marx in Capital said that the employees would be taken advantage of by the capitalists or businessmen because capitalism offers a huge benefit to the wealthy and is detrimental to the impoverished people. The wealthy people will get wealthier while the poor people will get more impoverished. Nonetheless, in spite of these differences in opinions in can be said …show more content…
This entails the resources used to produce the products like the plants, equipment and materials. The mode of production regularly develops towards an acknowledgment of its maximum capacity, but this development produces conflicts between the proletariat and the bourgeoisie. In capitalism, the capitalists come up with products and for them to make the most money they force the employees to work hard while giving them very minimal compensation. This is why no matter how hard they work they are unable to improve their lives. They eventually realize that they have to stop the capitalists from abusing them. This is why Marx believes that capitalism will lead to the inevitable clash between the poor people and the capitalists. The poor people will eventually grow tired of being abused by the capitalists and so they will be forced to organize an uprising to defeat the capitalists and end their reign in society. This in turn will pave the way for the proletariat to establish a new economic system known as
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