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Compare And Contrast Command Economy Vs Command Economies

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Would you rather have fewer worries or would you rather have freedom? These are the main points in the debate that discusses which type of economy (market or command) best suites governments wellbeing, as well as the people of the nation. As expected, many people have different opinions in this well-respected debate, and many people bring up convincing points. However, who is right? Which economic system is a better choice? Is there even a right answer? Command and market economies are in many ways different. As stated in the writing prompt, it implies that command economies are a type of economy where citizens have little to no freedoms. The government of the nation makes all economic decisions and owns much of the property. On …show more content…

First off, the amendments were written to supply people with the rights they were not allowed while living in England. People who believe in command economies are trying to caustic the rights we live by today with government control. As said in the document by T.P. Whitney, it states, "He is not stupid and sees that almost all the produce ends up in the hands of the government. The local Communist party boss is always coming back for more and more." With a command economy, people are being forced into hard work and given make the bare minimum. This is not right and should not be accepted. People deserve to receive what they have been working hard for. People do not deserve to be treated like merely a tool in a bigger picture. People have rights and should be treated as equal to the men and women in the government. The government workers should not profit off of the lower and middle classes hard work. In a market economy, people can work for themselves and can receive everything they worked for. It says in the document by Adam Smith, "It advocates the liberation of economic production from all limiting regulation in order to benefit the people." This is an extremely powerful quote because this is addressing the problem that is ubiquitous. The government should not work for their gain, but for the gain of the people of their

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As of 2018 numerous types of economies exist throughout the world, most of which are not only one type but a mix of the two most basic types of economies being a command economy, or a free market/ capitalist economy. If a nation named Athia were to exist it would have a mixed economy, incorporating the positive aspects of a command, and free market economies into one. Firstly, a command economy theoretically is one in which the government determines what goods should be produced, how they are produced, the number of goods, and the pricing of both the goods and labor (such as minimum wage). The government also enforces regulations that businesses must follow.

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3) In a command economy the government sets the production, distribution and prices. Command economies are typically part of communist societies or also run by dictators which can be seen in Cuba, former Soviet Union, and North Korea (Investopedia.com). Although in an attempt to distribute products equally, due to the inability for Command economies to predict market wants shortages happen often. In comparison to a Free Market society the production and distribution is controlled by the consumers so producers are more educated on the wants and needs of the market.

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The government is using their power to make sure the work gets done. This closely relates to the other reason the privileged take advantage of the less

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Adam Smith Adam Smith (1723-1790) was a figure of the Scottish Enlightenment. He criticized the government's regulation of trade/industry and instead pushed for economic liberalism. He believed in free trade competition based on the idea that the “invisible hand” will benefit all. Smith also advocated for the “division of labor,” which entails separating production into individual tasks that can be specialized. “Division of labor” helps increase the speed and efficiency of workers.

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Adam Smith, an advocate of capitalism, in his book, The Wealth of Nations wrote that all individuals are selfish and by performing to the best of their capabilities towards their own selfish interests they contribute towards the nation’s collective growth. Karl Marx, on the other hand criticized capitalism and believed that socialism and communism are society’s best chance of maximizing individual happiness, about which he wrote in his book Das Kapital. In this paper, we will compare and contrast the economics theories of Adam Smith and Karl Marx on the lines of labor theory of value, division of labor, alienation of workers from labor and human happiness and surplus profit and its social implications. This paper will also discuss how… Adam Smith believes that there are two types of ‘values’ of a commodity – ‘utility value’ and ‘exchange value’. The utility value of a commodity is based on how useful a commodity is and the exchange value of a commodity refers to how much we can get in exchange for a commodity if we were to sell it.

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In Utopia, Sir Thomas More wrote, “‘A king who can only rule his people by taking from them the pleasures of life show that he does not know how to govern free men.’” More meant that a leader who governs their people by taking their wealth from them does not know how to govern free people. An ideal leader is one who governs the free without making them dependent on the government or the leader themselves. More’s point was that by taking their peoples wealth away, they are really not free as of that point because the leaders are now controlling them. The leaders have the power of their money to control them and their actions.

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