anonymous
  • anonymous
"Capital is reckless of the health or length of life of the laborer, unless under compulsion from society." Source: Marx, Capital, Volume I, Chapter 10 (1867) In what way is this statement consistent with the ideas of Adam Smith? Smith knew that the invisible hand of the market was not concerned with the health of the laborer. Smith thought that capitalism was a devastating concept that would bring misery to the masses. Smith understood that Socialists reforms were important for the maintenance of the capitalist system.
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katieb
  • katieb
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anonymous
  • anonymous
Smith recognized that capitalism was only a short transition period on the way to communism.

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