Capitalism: The Communist Manifesto By Karl Marx
As the feudal system in Europe began crumbling with the dawn of the Industrial Revolution a void was created in the European social and economic structure, Scottish philosopher Adam Smith took it upon himself to fill this void and in 1776 published The Wealth of Nations; just as Newtons Principia Mathematica laid the foundation for modern physics so to did Adams work lay the foundation for modern economics. For the next 70 years Adams doctrine went unchallenged until Karl Marx presented his rebuttal in the Communist Manifesto.
Capitalism as envisioned by Smith called for complete private control of the economy, and a small government that practiced a hands off policy. Such a system, Smith believed, would allow for the greatest amount of wealth, …show more content…
Capitalism on the other hand is focused on working for individual growth, and personal ownership to provide wealth for one's self. Communism places the economy in governments hands, while capitalism removes the government from the economy entirely. Communism sets direct demands on the work you do and what you need to produce, so others can benefit as well as you from your hard work. Communism asks the government to decide what is needed for each individual to live and be equal. The government tells the community what demands need to be meets to produce and distribute enough materials equally. Capitalism depends on supply and demand instead of quotas, in order to make sure there is not too much or too little of certain products. If there is not enough of a product wanted then the price will rise, which will in turn cause production to increase. Once there is more than enough of that product on the market, the demand will begin to drop, resulting in the price and production to drop and so on. Capitalism creates a system where peoples first concern is themselves, rather than the others, making things a personal investment instead of community investment. Communism is built on the idea that humans are inherently just, and as such will work not just for themselves, but for their countrymen as well. Capitalism is built on the idea
Capitalism as envisioned by Smith called for complete private control of the economy, and a small government that practiced a hands off policy. Such a system, Smith believed, would allow for the greatest amount of wealth, …show more content…
Capitalism on the other hand is focused on working for individual growth, and personal ownership to provide wealth for one's self. Communism places the economy in governments hands, while capitalism removes the government from the economy entirely. Communism sets direct demands on the work you do and what you need to produce, so others can benefit as well as you from your hard work. Communism asks the government to decide what is needed for each individual to live and be equal. The government tells the community what demands need to be meets to produce and distribute enough materials equally. Capitalism depends on supply and demand instead of quotas, in order to make sure there is not too much or too little of certain products. If there is not enough of a product wanted then the price will rise, which will in turn cause production to increase. Once there is more than enough of that product on the market, the demand will begin to drop, resulting in the price and production to drop and so on. Capitalism creates a system where peoples first concern is themselves, rather than the others, making things a personal investment instead of community investment. Communism is built on the idea that humans are inherently just, and as such will work not just for themselves, but for their countrymen as well. Capitalism is built on the idea