Essay on Comparing Adam Smith and Karl Marx - 565 Words

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†¦show more content†¦Marx points out that the means of production are owned by only a small group of the population and most other people do not. These people who dont own the means of production (land, machinery, factories, tools, etc..) are called the proletariat and cannot sell their produce, only their labour-power... that is, they can sell hours of their time to other people. So the profits of their labour always go to those who hire them, and they are left with only a bare minimum wage. Smith and Marx both agree that capitalism requires ever expanding markets. Smith believes this is so because you cannot divide jobs down too much unless you have a large market. For example, city doctors, with their large population (market) can specialize while a country doctor must be a generalist. Unless the market continues to grow, jobs cannot be divided down further and large machines cannot be justified, thus production cannot continue to become more efficient. Marx, on the other hand, believes that you must have expanding markets because as you produce more you have more to sell (duh) and if you have more to sell you either have to have more people to sell it to or lower your prices in order to convince the same number of people to buy more. And the goal of course is to keep prices high. Smith says that the money that goes to paying wages comes from profits. ThereShow MoreRelatedAdam Smith Division Of Labour Summary1636 Words   |  7 PagesAdam Smith’s arguments on economic growth are heavily based on the concept of division of labour. The idea of division of labour relates to distinct specialization of the said labour force by breaking down one job into smaller components. Whereby one worker becomes an expert of their field, which is an isolated part of the production process. Throughout the 19th century, Victorian industries grew out of Maximum utilization of division of labour making it easy for employees to focus on their areaRead MoreAdam Smith And Karl Marx1674 Words   |  7 PagesI. Adam Smith and Karl Marx Contemporary economics are best explained by comparing two foundational thinkers that have contributed to the better understanding of liberalism, one being its proponent Adam Smith and the other being its most significant critic, Karl Marx. Both thinkers are profoundly important in locating and investigating the roots of neoliberalism as well as exploring alternatives ways to challenge neoliberal economics in the face of its post-cold war expansion as the inevitable andRead More Adam Smith v. Karl Marx Essay2236 Words   |  9 PagesAdam Smith v. Karl Marx Being reared in the typical capitalist community in the United States, it is much easier for me to relate to the thoughts of Adam Smith. 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Adam Smith being the pioneer of his economic system was acclaimed as the high priest of capitalism by many. The centerpiece of his work and viewsRead MoreA Comparison of the Economic Theories of Adam Smith and Karl Marx2203 Words   |  9 Pages There is perhaps not a more famous ongoing dialectic argument in the field of political economy than the one between Adam Smith and Karl Marx in regards to capitalism. The two thinkers, although coming to radically different conclusions about the outcomes of the capitalist system for all parties involved, agree on a surprising number of ideas such as labor being the source of commodities’ value, as well as the fact that the division of labor increases productivity. However, their different conceptionsRead MoreThe Paradox of Capitalism2320 Words   |  10 Pagesexploitation of the poor by the strong and powerful. For the ruling class, it symbolizes a system where opportunities abound for those who are devoted, innovative, and work hard. Karl Marx and Emile Durkheim, prominent social theorists studied the division of labour in a capitalist economy and both of their views have merit. Marx, well renowned German philosopher was one of the first incredibly influential social activ ists in history. He fear that we live in a materially determined economy has come toRead MoreRussia And The Steps Toward A Western Democracy1745 Words   |  7 Pagesgovernment control of everything from manufacturing, to the distribution of wealth, jobs, food and so forth. The communist ideology was greatly influenced by Karl Marx; a revolutionary communist who believed society functioned best when the governments intervened with markets (although the form of communism found in Russia was tweaked to what Karl Marx suggested) (Hauss, 2015). On the other side of the spectrum, Western nations like the US and Great Britain mainly believed that free markets, democratic

Case Study Engagement Strategy Essay - 1343 Words

Assignment 1: Engagement Strategy Joseph is a 70 year old Jewish-American gay male who wants to meet with me to discuss low income housing options for him and possibly his partner. My supervisor tells me that she is concerned that Joseph is in a violent relationship with his partner, Marcus, and wants me to assess how safe he feels living with Marcus at this time. Joseph appears very thin and has visible bruising on his forearms. Engagement Strategies Joseph is reaching out for assistance with low income housing options. He is not coming in for domestic violence. Because of this fact, it may be difficult to engage the patient on the matter due to the fact that he may be resistant to discussing it. Furthermore, individuals that experience violence are often isolated from family, friends, and social service that can provide support (Fullwood 2002). It is possible that Joseph is not aware of his situation or how bad it is. Many homosexual males are abused by their peers and family members due to their orientation in childhood (Harrison 1995). This may include teasing, taunting, mental and physical abuse. If this is the case for Joseph, he may normalize the abuse as something that is normal or â€Å"not as bad† as previous experiences. This could potentially cause him to rationalize and minimize his current situation to being something that is not an issue. Secondly, he may be resistant to allowin g help on the issue of domestic violence per his values as well as hisShow MoreRelatedWhy Do You Buy Your Brand? Essay1088 Words   |  5 PagesInstagram can be an effective social media platform for their brand? Even if many marketers want to leverage Instagram for their business, they lack a quick guide that has the tips to build a successful presence on Instagram. 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Alcoholism And Its Effects Essay Example For Students

Alcoholism And Its Effects Essay Michael PattersonProf. GouldApril 4, 1999English 120Alcohol Affects Us AllWhen people hear the word drug, they usually think of an illegal substance such as cocaine, heroin, marijuana, or any other drug that can be found on the street. Most people never consider the fact that consuming alcohol can be just as harmful as illegal drugs, not only on the body, but on the mind and spirit as well (#1). If constantly abused, alcohol can be even worse for one than taking illegal drugs (#5) Irresponsible drinking can destroy a persons life as well as the lives of those around them. When people become both physically and psychologically addicted to alcohol, they become an alcoholic and suffer from a disease called alcoholism. One denotation of this term is a diseased condition of the system, brought about by the continued use of alcoholic liquors (Websters Dictionary, 37). Another definition of this term, given to me by my English professor, Janet Gould who is in fact, a recovering alcoholic, i s that alcoholism is a mental dependence and a physical allergy (#3). Alcoholism somehow affects us all through a parent, sibling, friend, or even personal encounters with a stranger. In fact alcoholics may become angry and argumentative, quiet and withdrawn, or depressed. They may also feel more anxious, sad, tense, and confused. They then seek relief by drinking more (Gitlow 175). Alcohol and Alcoholism is a big part in our society, which should be recognized and dealt with. In addition about 7% of all adults who consume alcohol in the United States today are considered alcoholics, or have suffered from some sort of drinking problem in their lives (Secretary of health viii). Although there is no indication of how the alcoholism of families members is linked through genetics, studies show that about 50 to 80 percent of all alcoholics have had a close relative that was an alcoholic (Caplan 266). Many times alcoholism starts during a persons high school and college years; however some teenagers and young adults frequently abuse alcohol and never think about the physical, mental, and emotional toll that alcohol can have on a persons life (#3). Alcoholism usually begins with social drinking then a person will find excuses to drink more often (Burgess 13). When alcohol is made more readily available to an individual, such as in a college environment, it increases the risk that person will drink excessively (Ewing 173) (#5). The chances of a person becoming an alcoholic are much higher for a person who drinks excessively and lower for a person who drinks moderately. Most alcoholics start out by building up a tolerance, causing them to drink higher amounts of alcohol to get the same effect; this tolerance is the starting point of an alcoholics dependence and causes many problems in an alcoholics life (#2). Alcohol begins to control the individuals life and causes their drinking habits to conflict with their best interests (Burgess 16). Personal relationships can be torn apart, jobs are frequently lost, and the health of a person deteriorates when an individual begins to rely on a drink to get by (Burgess 16). Sometimes a person may start to drink at every waking moment of the day because they cannot deal with the withdrawals of being sober (Burgess 16). Furthermore, alcohol can have many physical effects on a persons body; internal organs and systems can be severely damaged and even shut down when too much alcohol is consumed (#2). The prolonged use of large amounts of alcohol without an adequate diet may cause serious liver damage, such as cirrhosis of the liver (Secretary of health 47). It has been estimated that 10% of all alcoholic persons develop cirrhosis, a disease characterized by diffuse scarring of the liver (Secretary of health 47). The central nervous system can also be permanently damaged causing a person to possibly blackout, hallucinate, and experience tremors. The term blackout does not mean loss of consciousness, but is referred to as the lost hour with the intoxicated person remembering nothing the next day (Burgess 13). The withdrawal symptoms that a severe alcoholic can experience are sometimes compared to the same withdrawals as a heroin addict, yet people still do not consider

The Long Loneliness free essay sample

This paper reviews the autobiography The Long Loneliness by Dorothy Day dealing with her conversion to Catholicism. The paper reviews the book The Long Loneliness which is set during the Depression era. Dorothy Day desperately searches for some meaning and purpose to her life. This search results in her conversion to Catholicism. From then onwards, she devotes herself to community work, which is her way of staying in touch with God. Her autobiography, The Long Loneliness talks about the turmoil of her times, and her renewed faith in religion and God. The paper reflects on various experiences of Days life and the lessons she learns from them. Dorothy Day is and will always be remembered as one of the most prolific American writers of the Depression era. But Day was not exactly a writer, as one would conclude from the warm reviews that that her books received. She was essentially a social activist who wrote novels only to serve her life goals and objectives. We will write a custom essay sample on The Long Loneliness or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page