Summary Of The Wealth Of Nations By Adam Smith

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How important will machinery become in future generations? In The Wealth of Nations, Adam Smith writes: “It is the great multiplication of the production of all the different arts, in consequence of the division of labor, which occasions, in a well-governed society, the universal opulence which extends itself to the lowest ranks of the people” (Smith, p. 12). Smith argues that the overwhelming significance of the industrial world in terms of the division of labor involves the concentration of a single task as a factory worker. But what is division of labor? It is “the great course of its increased powers, the greatest improvements in the productive powers of labor…” (Smith, p. 1). Within his work, Smith includes three benefit on why the division …show more content…
In opposition to Smith, they believe that history drives ideas. Marx and Engels consider this view because throughout history, there has always been a group more powerful than another group. This has been seen in tribal and ancient communal times, feudalism, and capitalism. Within the capitalist generation, the creation of factories and machineries has continued to exploit workers. Smith claims that employees’ ability to choose employers creates freedom, but Marx and Engels believe that is forced and involuntary because of the existing capitalist society which requires work in order to survive (Smith, p. 206). This competition enslaves individuals because of the capitalist structure they live in. Marx and Engel may argue that there may be a time in society when specialization in certain jobs is no longer required because of the advancements in technology will take over. In response to the critiques of Marx and Engels, Smith may argue that ideas drive history because materialistic reality creates ideologies, which drive the creation of machinery. This creation of machinery gives workers the opportunity to have skill, especially for those who may have little time for …show more content…
Why are individuals being taken away from their jobs? I understand that actual driving will be replaced with remote control consoles, but who does that benefit more: the employee or the employer? Funding is increasing for self-driving truck technologies and most of this money will benefit the engineers, investors, and owners rather than the drivers themselves. does this mean for future generations? It seems that we are approaching an epoch were all jobs that once required humans will be replaced by artificial intelligence. Throughout history, we have seen many forms of the exploitation of workers from the ones in power. However, this has reached a new high and it will only continue to get worse. There is not much they can do about technological advancements, but it puts them at an unfair advantage due to the division of labor. It has created power structures and the workers at the bottom have ideas imposed on them, which they are forced to accept. Human labor will soon become superfluous by the perfecting of future machinery (Engels, p. 707). This will create even more division between the people because of the existing competition. This “now puts these individuals in a position to raise themselves into the ruling class” (Marx, p. 174). The capitalistic society that we live in has enslaved workers. Although some groups will ultimately benefit from self-driving trucks, the workers

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