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In this economic system smith believed that basic economic questions were answered by which group?
market
Did Marx believed his economic system would pay workers according to their needs?
Marx believed that capitalism would have already placed all workers in company owned towns (or something equivalent) that provided for all their needs, before the revolution. The workers "pay" would not be in money but in company "credit" at the company store, company hospital, etc. After the revolution this system could just be kept in place, with minor modification to even the distribution of wealth. The workers would be better off afterwards because the capitalist's that used to own the companies would have their "excess wealth" removed and divided among the workers.Nothing like this ever happened.
What economic reality for workers was most closely associated with the development of the factory system?
Reduced need for skilled workers.
In his economic system smith believed that basic economic questions were answered by which group?
market aPLUS
In his economic system Adam Smith believed that the basic economic question should be answered by whom?
Market
What economic system did Karl Marx believe created poverty?
Karl Marx believed that capitalism was the economic system that created poverty. He argued that the capitalist system led to exploitation of workers, unequal distribution of wealth, and alienation, ultimately perpetuating poverty among the working class.
In this economic system smith believed that basic economic questions were answered by which group?
market
Did Marx believed his economic system would pay workers according to their needs?
Marx believed that capitalism would have already placed all workers in company owned towns (or something equivalent) that provided for all their needs, before the revolution. The workers "pay" would not be in money but in company "credit" at the company store, company hospital, etc. After the revolution this system could just be kept in place, with minor modification to even the distribution of wealth. The workers would be better off afterwards because the capitalist's that used to own the companies would have their "excess wealth" removed and divided among the workers.Nothing like this ever happened.
What economic reality for workers was most closely associated with the development of the factory system?
Reduced need for skilled workers.
In his economic system smith believed that basic economic questions were answered by which group?
market aPLUS
In his economic system Adam Smith believed that the basic economic question should be answered by whom?
Market
What is Marxism-Leninism system?
Lenin was not a Marxist, so there can be no such system. Lenin advocated workers being led, whereas Marx believed workers could and should liberate themselves.
In what way was the caste system related to economic status?
By having skilled mental workers.
What is the economic system providing free choice and individual incentive for workers inverstors and consumers?
capitalism
What did Karl Marx argue was the top social institute?
Karl Marx argued that the economic system, particularly capitalism, was the top social institution that shaped society. He believed that economic relationships, such as those between capitalists and workers, determined power dynamics, social structure, and even individuals' consciousness.
According Karl Marx losing control of one's work results in?
According to Karl Marx, losing control of one's work can result in alienation and exploitation. This occurs when workers no longer feel a sense of ownership or connection to the products of their labor, leading to dissatisfaction and feelings of powerlessness. Marx believed that addressing these issues required a restructuring of the social and economic system.
Did Karl Marx believe his economic system would pay workers according to their needs?
‘Pay’ is the wrong term. In the higher phase of Communism, people would take what they needed from what had been produced.
