term1 Definition1term2 Definition2term3 Definition3
Please sign in to your Google account to access your documents:
Karl Marx
➔ Pessimistic and revolutionary
➔ Believed once the capitalist has set up the means of production all value is created by the work put in to create the goods
➔Pro socialism and capitalism
Adam Smith
➔Developed the term “invisible hand”
➔Saw harmony and growth in the economy
➔Founder of free market capitalism
➔Believed humans would strive towards increased productivity
Invisible Hand
Individual's action in their own self interest, manage to produce and purchase thegoods and services that society requires
Need help typing ? See our FAQ (opens in new window)
Please sign in to create this set. We'll bring you back here when you are done.
Discard Changes Sign in
Please sign in to add to folders.
Sign in
Don't have an account? Sign Up »
You have created 2 folders. Please upgrade to Cram Premium to create hundreds of folders!