More Similar than You’d Think - Adam Smith & Karl Marx

I really liked the visual for the invisible hand of the free market

So, under Marx, he simply believes you should let the government exploit and control people? Never once has any communist nation produced favorable results. Capitalism has increased prosperity for many. Both find ways to exploit people. Communist killed 100 million people in the pursuit of its goals. It starved and murdered anyone who didn't submit. Capitalist seem to exploit other nations vs their own. In the end, corrupt leadership seems to run both promising and never really delivering.

Scientific management

Free market? It’s a manipulated market.

UAL is on strike

Communism failed first. Now capitalism is failing

Smith invented capitalism?
?
???
No.

Smith said that a society cannot be healthy where most of the citizens are poor. So he did care about class struggle. In fact he wrote a lot on it. His conclusions were always rooted in harnessing human motivation where Carl Marx resented human motivation and sought to remove it through revolution, government intervention and redistribution. Which sounds a lot like murderous aristocratic theivery to me.

I agree with the thought of “Competition begets Innovation”, what a great concept on paper. What ends up happening is “Competition begets Monopolization”. Rather than needing to roll the dice with new products and risk brand quality and recognition, brands just buy up new ideas that start doing well or outright clone them when they can’t buy them. This leads to predatory practices and the antithesis of competition and innovation. We see these practices repeated in literally every industry.

Smith was aware of the repetetive aspect of labour division and the degrading effects and he mentioned in his book!

Capitalism > Communism
I can’t stop saying it 👌

Most of the scholarship of A Smith is based on superficial knowledge of his ideas. He was not a fan of the division of labor. That idea is found well into the book W O N.

Most of the scholarship of A Smith is based on superficial knowledge of his ideas. He was not a fan of the division of labor. That idea is found well into the book W O N.

Correction: Smith did not like "Division of Labor".

Capitalism has lifted more poor out of poverty than all religions and governments combined. Marx was a fool.

the solution is to give both freedom for people to do business, but at the same time give more salaries. duh.

SILENCE, CENTRIST.

Marx was a deadbeat leech who treated people around him very poorly. He was just as bad a person as the corrupt capitalists he wrote about.

Adam Smith asked Karl Marx: "Are you Kurdish?"

Karl Marx did not answer...

Do you comment on Adams The Morals of the Sentiments?

Very intelligent and neutral.. I think the present rich might say they are not rich because of stealing and exploiting the workers. They made the cake bigger so that workers have now a bigger piece while they have an even bigger piece. This might ignore some cheap labor exploitation in poor countries but it is probably not wrong. However the environment gets damaged and cheap labor is gradually disappearing too. So I don't know if local populations will not again have to suffer under wealth extraction because the rich want to stay rich and even become richer. Perhaps the present inflation is a sign of that.