Karl Marx and Adam Smith
Imagine that the Candian economy has completely collapsed. It is your job to devise and implement a new economic policy for the country. Who will you choose as your chief advisor, Karl Marx or AdamSmith? Why?
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Adam Smith.
Adam Smith is a Scottish man born (1728-1790) in the era of the invasion of industrialization and the decline of the custom command rule driven economic system of Europe. These industrialization changes symbolized the intellectual shift of way of doing things from the customary ways. Rationality, secularism, liberty and way of progressing were changing drastically. He studied economics in Glasgow, Scotland and Oxford University, England and was the government economic advisor as well as a……
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