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Karl Marx and Adam Smith Essay

Project id 1004490
Subject area Other
Document type Essay
Words 3356
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Karl Marx and Adam Smith Karl Marx and Adam Smith wrote in precisely the exact same time period -- during the industrial revolution, where the bourgeois had climbed to power by oppressing and exploiting the proletariat. The expression bourgeois refers to the men and women in the class of modern capitalists, owners of the means of social production and employers of wage labor. The proletarians are the men and women in the class of modern wage laborers who, having no means of production of their own, are reduced to selling their labour power to be able to reside. Even though Smith, in his Wealth of Nations, wrote in favour of capitalism, Marx, in his Communist Manifesto, was a harsh critic of this system and declared its inevitable destruction and consequent growth of the working class. Based on Marx, history is a series of class struggles that fall and rise based on economic changes. Marx claimed that society has an economic foundation; economic changes force a resultant restructuring of society. As an instance, the thirteenth century in Europe saw the pinnacle and the decline of the feudal system. Rather than private military solutions Vassals started giving money to their own lords as obligations. The lords favored these cash payments because it allowed them to employ professional boxers who were better trained and more disciplined than their vassals. Wars were being obtained by professional men-at-arms and archers. The original feudal system of honor and devotion was diluted into a financial relationship where the subjects vowed allegiance to the lords just for the term of employment. This new temporary connection between warrior and lord, called "bastard feudalism," was the first step to the division of labor as seen in the times of Adam Smith and Karl Marx. It marked th...

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