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Communism Vs. Capitalism: Communist Manifesto By Karl Marx

754 Words4 Pages

Communism versus Capitalism
Katherine Dourian
October 12, 2014
Global History 2
Andrew Vandall

Marx and Smith wrote during the same time period–during the industrial revolution where the materialistic and conventional values of the middle class had risen to power by oppressing and exploiting the working class. Smith, in his Wealth of Nations, wrote in favor of capitalism, whereas Marx, in his Communist Manifesto, harshly evaluated the capitalist system and proclaimed its inevitable destruction and consequent rise of the proletariat, working class. Marx believed a wage labor war would break down society and cause a downfall of the economic structure. This could quickly turn into a debate between the ideas …show more content…

Adam Smith was born on June 17, 1723 in Scotland. He was a professor at the University of Glasgow and he wrote “The Wealth of Nations”. In this book he defended the ideas of a free market and the three natural laws. Smith was a firm believer of Laissez Faire economics and also thought that economic liberty would result in economic progress. At the core of Adam Smith's Laissez Faire capitalist philosophies lies the three natural laws of economics. The first of three is the law of self interest; This question is asked by most people around the world today, the question is why work? Why spend 8-12 hours every day working? The answer for most people is you or your family. Why do you go to school? To get an education that will lead to a better life with more money, more food, and more luxuries such as vacations, electronics, and a better house for you and your family. Law number two of Smiths natural laws is the law of competition. A small family owned shop opens up on a street with some other surrounding small shops around it. Unlike the other shops this one sells dressers, store number one has one worker and they can make one

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