While communists seeks to completly eliminate capitalists government and support the role of worker in search for equality, socialists seeks to increase public social programs than the private and advocates to reduce class structure instead. Socialists believe that it is not necessary to be in radical way overthrowing capitalist economies. In addition, socialists encourage both government establish and private manufacture, communists believe that all forms of production should come from state and everything belongs to the state. In brief, both communism and socialism have benefits and disadvantages. Neither communism nor socialism is perfect in terms of the form of government or economic system.
Karl Marx (1975) implied the importance of ‘commodity’ throughout his work. He argued that commodities played an important role in the formation of Capitalism as commodities where sold and bought in the market to increase the profit and sustain Capitalism. This Marxist ideology led to the formation of ‘commodification’. Contemporary Marxists argue that commodification is a term used to explain the extent to which welfare services are sold and bought from the market just like commodities. Thus having an exchange value – those objects that do not have an economic value are assigned a value.
In a socialist economy, all business properties are state owned. The focus of a socialist economy is to maximize social welfare instead of profit. Scholars theorize that socialism developed from capitalism. It rose to prominence to improve the flaws found in a capitalist economic system. Socialism provides a direct line between citizens and goods.
He believed that the economy is the most powerful social institution in the society and can create social stratification. Labour includes anyone that earns their money by selling their labor and getting paid by the time they put in. While capital includes anyone who gets their income from a surplus value. They relate to each other because they are both a general form of wealth. Weber believed that class divisions occurred from lack of control of production, but also from economic differences that have nothing to do with property.
This happens during the capitalist mode of the production. Although in The Fetishism of Commodities and the Secret Thereof Karl Marx still is concerned about the laborers, he is more focused on how the buyers of the products do not acknowledge that the products came from the work of laborers. As Marx says in The Fetishism of Commodities and the Secret Thereof, “A commodity appears at first sight an extremely obvious, trivial thing. But its analysis brings out that it is a very strange thing, abounding in metaphysical subtleties and theological niceties” (pg. 163).
Marx’s ideas not only justified how the specific events came about, but explained that the root of where these events came from. Marx’s ideas explained that the root of these events occurred from the inequality of how the capitalist class abused their wealth and power only to become wealthier and powerful, while the wage-workers become oblivious to it. A limitation of Marx’s ideas is that alienation does not relate to all cases of financial inequality, which are heavily based on culture. Marx’s ideas in regards to alienation is targets more individualistic cultures rather than collectivistic cultures. This is because individualistic cultures value one's own goals, motives, and success.
Adam Smith, an advocate of capitalism, in his book, The Wealth of Nations wrote that all individuals are selfish and by performing to the best of their capabilities towards their own selfish interests they contribute towards the nation’s collective growth. Karl Marx, on the other hand criticized capitalism and believed that socialism and communism are society’s best chance of maximizing individual happiness, about which he wrote in his book Das Kapital. In this paper, we will compare and contrast the economics theories of Adam Smith and Karl Marx on the lines of labor theory of value, division of labor, alienation of workers from labor and human happiness and surplus profit and its social implications. This paper will also discuss how… Adam Smith believes that there are two types of ‘values’ of a commodity – ‘utility value’ and ‘exchange value’. The utility value of a commodity is based on how useful a commodity is and the exchange value of a commodity refers to how much we can get in exchange for a commodity if we were to sell it.
Lenin is important in world history because he was all about getting the working class to conform and not question the Socialist economic system. Aldous Huxley has really got Lenin’s ideas anthropomorphized in the form of Lenina because she exemplifies how nobody could think or believe anything other than what the government, or Lenin wanted them to. Lenina is a robotic pawn of government in the World Slave State. Lenina isn’t a revolutionary like Vladmir Lenin, some would argue that Lenin and her simply share the same name. Lenin was a head figure in the Socialist government who coined the idea of having mass amounts of people working for “society” and ultimately the one who would benefit is the government.
The idea of socialism and communism may be slightly unrealistic and challenging to implement but in a utopian society, Marx’s view of the political structure is ideal. Arendt argues that there is no place for poverty in politics but Marx makes the point that poverty must be eliminated first so that politics can flourish. The only way to eliminate poverty is through the political system and the overthrow of the elite. As long as there is economic oppression, freedom is not attainable for every citizen. The separation of economics and freedom is unrealistic because money controls the actions of the people.
The serialisation of The Pickwick Papers, his first commercial success, began in 1836, the same year that he married Catherine Hogarth. The first chapters of Oliver Twist appeared in print in 1837 while The Pickwick Papers was still running. Many other novels followed and Dickens became a celebrity in America as well as Britain. He also set up and edited the journals Household Words (1850-9) and All The Year Round (1859-70). Charles Dickens died on 9 June 1870 leaving his last novel, The Mystery of Edwin Drood, unfinished.