An Inquiry Into The Nature And Causes Of The Wealth Of Nations By Adam Smith

1008 Words Dec 12th, 2016 5 Pages
Adam Smith was an economist from the mid-late 1700’s and he was able to explain the knowledge of Capitalism; elaborating on how to make money from the free markets that was influential to survival at that time. He wrote a book, An Inquiry Into the Nature and Causes of the Wealth of Nations, which describes the origins of Capitalism in great details with petty examples of this logic set in motion. On the other side of the spectrum, Karl Marx and Friedrich Engels both produce a collaborative piece called The Communist Manifesto which heavily criticizes the bourgeoisie, and pushes for a lifestyle in which all property is government owned; eliminating the class system and having all people of the nation work for the same salary. There is a stark contrast in the ideals of Smith, who believed making money and creating the highest profit margin was the way of life, than to Marx, who believed the big businesses owned by the rich was a vicious system that only benefitted themselves. Both in a sense describe how government should be run and the drastic impact it has on its people. Smith describes in his first paragraph that every person is out to make money or be as wealthy as possible, so people look for a job or ,if they start their own job, employers that will make him or her the wealthiest. However people are selfish and are only out to better themselves, the only reason society benefits from this is that employment betters the economy (Smith 660). “Smith also argued that capital…

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