Economics 1 Page 15hours
Article writing homework help
Early on in the semester, we saw Karl Marx make some interesting claims about capitalism. Although Marx ultimately thought that capitalism should eventually be replaced by socialism, he was nevertheless clear in saying that capitalism is responsible for an unprecedented increase in the total wealth of society. In this week’s readings, Adam Smith gives us an account that can reveal why that might be so. For this week’s assignment, it will be your task to explain Smith’s view.
Instructions
In a new Word document, answer each of the following questions in your own words.
What does Smith consider to be the main cause of the wealth of nations? Why does this factor have such a powerful impact on wealth?
What effect does the number of people participating in the economy have on society’s wealth? Why?
In “The Communist Manifesto,” Marx said that capitalism encourages workers to move away from the countryside and into big cities. Given what Smith says in this week’s readings, why do you think that workers would do this? What could workers do more effectively in big cities that would lead them to leave the countryside?
