Is Adam Smith Inherently Impossible In Today's Society

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SOCB42 Classic Sociological Theory I November 25, 2016
Essay 2
Name: WONG Yuk Lun Anthony Student Number: 1002162072 From Marx’s perspective, he thinks that the modern society is inherently unstable. According to Marx, our society is divided into different classes. For instance: The bourgeoisies, owners and the proletariats. The majority of people in the society belong to the proletariats and most resources are owned and controlled by these two classes of people. He stresses that if capitalism and bourgeoisies fall, then our human society will become a classless one. On the contrary, Adam Smith holds a positive and optimistic view to the capitalistic society. In his opinion, he thinks that individuals especially workers …show more content…

Also, he opposed Marx’s idea of revolution to restore justice for the masses. The reason is because Smith valued order and stability over relief from oppression. The ideas of holding lands and aristocracy are not the main focus of Smith. I think Smith will try to refute Marx’s claim by emphasizing on the importance and prevalence of a free market economy. In fact, Adam Smith believed that an individual could freely consume and spend according to the earning abilities. Thus, a worker can also become a consumer in the free market economy. (i.e. capitalistic society). When a worker makes purchase of goods and services, then it will become the profit of the producers. This is a reciprocal practice and would help to facilitate economic activities and ultimately boost the economic growth and development of the …show more content…

As "the self-conscious, independent movement of the immense majority, in the interests of the immense majority" (Marx-Engels Reader 481). When looking at the breakup of the social order of feudalism and the emergence of a modern society, Marx and Tocqueville come up with different conclusions about the nature of this modern social order. Tocqueville views the society as fundamental equality whereas Marx views society which primarily consists of two distinctive classes. The bourgeoisies and the proletariats. In reality, these two classes are increasingly polarized due to the prevalence and rapid growth capitalism. Capitalism becomes more

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