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Who was the great exponent of economic and social determinism?
Karl Marx
Who was the father of a command economy Adam smith or Karl marx?
Karl Marx is considered the father of a command economy, as he advocated for a system where the state controls production and distribution of resources to achieve equality and eliminate class distinctions. Adam Smith, on the other hand, is known for his ideas on capitalism and the free market, emphasizing individual self-interest and competition as drivers of economic prosperity.
Is competition good or bad for consumers?
It depends. Two political philosophers, Adam Smith and Karl Marx, had differing opinions on this matter. Adam Smith was the founder of capitalism and believed in what he called "the Invisible Hand". This meant that competition would eventually result in innovation as one group tried to beat the other and would ultimately further society's interests. Karl Marx is the father of communism and believed that competition, and eventually capitalism, would lead to the exploitation of the working class. Not to mention it causes stress and "arms races" where people would be too obsessed with victory or beating the other person at something. Look up the "tragedy of the commons" from economics.
Who started capitalism?
== == Capitalism has, and has had, many supporters and had no founder because it developed gradually and naturally as the feudal arrangements of the Middle Ages gave way. You may be thinking though of Adam Smith whose book, "The Wealth of Nations", published in 1776, gave the first and most important analysis of the principles on which it is based. Economists still study it to this day.
Wealth accumulation in history economic thoughts?
Wealth accumulation has been a central focus in historical economic thought, evolving from mercantilist views that emphasized state control and trade surpluses to classical economics, which highlighted individual entrepreneurship and market efficiencies. Thinkers like Adam Smith argued that wealth stems from productivity and specialization, while Karl Marx critiqued capitalist accumulation as exploitative. In contemporary economics, debates continue over wealth distribution, with discussions on inequality and the role of government in regulating markets to ensure equitable growth. Overall, the understanding of wealth accumulation reflects broader societal values and economic structures throughout history.
Karl Marx would have agreed with Adam Smith?
Karl Marx and Adam Smith had different views on capitalism. Marx criticized Smith's ideas for promoting inequality, exploitation, and class struggle. Marx believed in the abolition of private ownership of property and the means of production, while Smith advocated for free markets and individual self-interest.
Who was the great exponent of economic and social determinism?
Karl Marx
Who challenged Adam Smiths views?
Adam Smith's views were notably challenged by Karl Marx, who criticized the capitalist system that Smith championed. Marx argued that capitalism inherently leads to class struggle and exploitation of workers, contrasting with Smith's ideas of the "invisible hand" and the benefits of free markets. Additionally, economists like John Maynard Keynes later challenged Smith's notions by emphasizing the role of government intervention in stabilizing the economy, particularly during recessions.
Who introduced the concept the division of labor?
karl marx,adam smith,max weber
What are some examples of an economist?
Karl, Marx, thomas, Malthus, Adam, Smith, Roger Leroy.
Did Adam Smith Alfred Marshall or Karl Marx compare demand and supply to two blades of a pair of scissors?
Marshall
When did Karl Ferdinand Adam die?
Karl Ferdinand Adam died in 1868.
When was Karl Ferdinand Adam born?
Karl Ferdinand Adam was born in 1806.
Did Karl max say People should be able to pursue a profit in business because they can see what consumers want?
adam smith
What has the author Karl Adam written?
Karl Adam has written: 'The Christ of Faith' 'Saint Augustine'
When did Karl U. Smith die?
Karl U. Smith died in 1994.
When was Karl U. Smith born?
Karl U. Smith was born in 1907.
