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Karl Marx Vs Adam Smith Essay

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Two extraordinary eighteenth-century political economists excelled their knowledge and understanding of economy and differences between social classes through two globally wellknown texts, Adam smith, The Wealth of Nations and Karl Marx’ Communist Manifesto.
In the late 1800’s, specialization meaning the basis of global trade was explored worldwide through different levels of wealth and class classification. Both Adam Smith and Karl Marx had very powerful yet different visions on the meaning of specialization and how it is conveyed to people in 1800’s from all types of social levels from Bourgeoisie to proletarians.
According to Adam Smith, economic growth is rooted in the increasing division of labour and the specialization of the labour force by the breaking down of …show more content…

This is constantly how the home-market works, each individual business is repetitively comparing prices and products to earn the most money to become the most successful business in a curtain industry. Marx and Smith have different views and values towards how their society should be handled, although the similar ideas and concepts to then connect to find patterns within The
Wealth of Nations and Communist Manifesto. Specialization was a main pattern found between the two authors exploring the idea of manufacturing products from finding and purchasing raw material to selling them and creating tactics in the home market. Class struggles was also a pattern found between Marx and Smith and they both have a strong beliefs in how to manage the society and treat the division of different wealth levels. Marx likes control and order within a group of class struggles as he has a bourgeoisie as a strong leader who is in charge of the thousands of proletarians that work all day making the same object. However Smith has thought to make the process more efficient by specializing workers in specific jobs for multiple people to make one

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