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Comparing The Views Of Karl Marx And Andrew Carnegie

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In this paper, I discuss how Karl Marx, Adam Smith, and Andrew Carnegie agreed and disagreed about the concepts of capitalism with different standpoints. For example, Karl Marx mainly focused on the function of communism; Adam Smith emphasized the free trade in market, and Andrew Carnegie adopted the form of capitalism. I further explain the different perspectives of capitalism that impacted on society, and social and economic situation. The word, capitalism, is defined as an economic and political system in which a country’s trading business and industrial activities are made by private ownerships or corporations through the means of production, distribution, and social wealth. In 19th century, as the development of Industrial Revolution …show more content…

Capitalism led to inequality. For example, in capitalist society, bourgeoisie owned the majority of power by controlling schools, government, land, property, and factories. Under the power of capitalism, many factory owners held the right in the nation, and they only paid workers (the proletariat) with a low wage; this not only caused the workers to continually suffer in poverty, but it also resulted in the problem of unequal …show more content…

In Smith’s theory, he focused on the individual, but Marx preferred to pay much more attention on a specific social class. Marx says, “The distinguishing feature of Communism is no the abolition of property generally, but the abolition of bourgeois property (Marx, 1848).” For example, proletariat needed to build a new social class through revolution, and abolition of private property needed to be established in society. Marx had also offered other policies that helped to get rid of the different class distinctions between bourgeois and proletariat and distribute the wealth equally such as “abolition of all right of inheritance, exclusion of monopoly, equal liability of all to labor, and a more equable distribution of the population over the country (Marx, 1848).” These policies not only prohibited one to hold certain power and rights to rule others, but they also promoted the equal distribution of wealth in

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