(Thanks to Stephen Goranson who located the key citations dated 1925 and January 30, 1947. Barry Popik also pointed to the words of Kurt Tucholsky. Thanks to James Marx who pointed to the line spoken by Charlie Chaplin in “Monsieur Verdoux” and to the work by Beilby Porteus. Thanks to Alex Stroup who also pointed to “Monsieur Verdoux”. Thanks to Fred Shapiro’s “The Yale Book of Quotations” which included the Chaplin citation and the 1958 citation. Thanks to commenters Mary and Tucker Lieberman for pointing to Erich Maria Remarque.)
Comparing Adam Smith and Karl Marx
Smith and Marx agree upon the importance of capitalism as unleashing productive powers. Capitalism is born out of the division 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 produce more than they personally need. The extra produced can go towards the accumulation of capital, (machines, more 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 collapse.
However, here is where they split. Smith thinks that as everyone produces more, they have more to sell (exchange) and ever... Read Full Essay Click the button above to view the complete essay, speech, term paper, or research paper