A comparison of Capitalism and Marxism This essay testament analyse the economic principles of uppercaseism and communism by giving apprise historical background on both and describing the two. I will begin with the father of economy, Adam metalworker, and finish with the theories of Karl Marx. Adam Smith believed that if everyone behaves selfishly we are doing what is best for the economy of our society. This is what is known as ?enlightened selfishness.? ?Enlightened selfishness? is one of the main elements of capitalism. Profit is the actor for production of goods and greed is a virtue.
You can own personal property, but to maintain that private property you need capital to invest. Investing in something is always a risk. The large the risk, the larger the pay-off. In a capitalistic society, the government does what is known as laissez-faire. This means that the government does not interfere with the market. This is known as the ?hidden hand.? The desired result of laissez-fair...If you want to get a full essay, order it on our website:
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