How did the theories of Adam Smith and Karl Marx differ?

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2026-07-10 05:36

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Adam Smith and Karl Marx had fundamentally different views on economics and society. Smith, often regarded as the father of capitalism, advocated for free markets and the idea that individual self-interest drives economic prosperity through the "invisible hand." In contrast, Marx critiqued capitalism, arguing that it leads to class struggle and exploitation of the proletariat by the bourgeoisie, ultimately calling for a classless society through revolution. While Smith emphasized the benefits of capitalism, Marx highlighted its inherent inequalities and the need for systemic change.

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