Adam Smith

Adam Smith, whose Wealth of Nations was published in 1776, was the father of modern economics and capitalism. He argued, that the free operation of market forces was the best recipe for a flourishing and growing economy. If everyone is as free as possible to pursue his or her own self-interest, he or she will be led by an “invisible hand”1 to promote the welfare of society as a whole. Many would agree that societies that …

…their own hands to advance within society. Marx disagrees by saying that when a person betters himself, he does not improve but instead endangers society. In Adam's idea of society each person can do whatever they want to advance them and each person can pursue happiness in whatever fashion they believe to be the best. Technology creates new and better ways to do things, which allow society to grow and become more advanced. ------------------------------------------------------------------------ **Bibliography**