Compare and contrast the three ways to deal with the industrial revolution proposed by smith,Marx and Owen.

Question

Compare and contrast the three ways to deal with the industrial revolution proposed by smith, Marx and Owen.

Answer 1

Look for these concepts in your textbook, or online resources.

 

 Principles of Capitalism by Adam Smith

1776:  The Wealth of Nations:  Defended the idea of a free economy, or free markets.  Economic liberty guaranteed economic progress.  Government need not interfere in the economy. If individuals freely followed their self-interest, the world          would be an orderly, progressive place.

 

Karl Marx

“The working men have no country.” – The Communist Manifesto

Human societies have always been divided into raring classes:  bourgeoisie (middle class employers) & proletariat (workers.) The wealthy controlled production; the poor
performed backbreaking labor under terrible conditions.

 “The proletarians have nothing to lose but their chains.  They have a world to won.  Workingmen of all countries, unite.”

Workers would control the government in a ‘dictatorship of the proletariat.’  Government would wither away as a classless society developed; pure communism.

A form of complete socialism in which the means of production would be owned by the people. Private property would cease to exist; all would be shared equally.