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30 October, 16:17

Explain how Adam Smith and Karl Marx had an impact on industrialism

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  1. 30 October, 16:36
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    The Industrial Revolution drastically increased class divisions as a class of entrepreneurs and business owners became wealthy off paying laborers meager wages. Adam Smith claimed that the "invisible hand" of competition and demand would allow the free market to grow and succeed without government interference. While Adam Smith contended that the most ideal economic system is capitalism, Karl Marx thought otherwise. Adam Smith also opposed the idea of revolution to restore justice for the masses because he valued order and stability over relief from oppression.
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