Essays on Adam Smith

A collectivist believes that the society’s needs are above individuals needs, decisions in a collective society are made based upon the group’s best interest and what is most beneficial to the society rather than each individual. The first modern idea of collectivism was best displayed...

Throughout the 19th century there was this German philosopher called Karl Marx that later in his life became the founder of the political theory called communism. He has been characterized by writing great books; his most important ones being Capital: A Critique of Political Economy...

Another muslim scholar of jurisprudence, is Taqi al-DIn Abu al- Abbas Ahmad Ibn Abdu al-Halim Ibn Abdu al-Salam widely known among the Muslims as Ibn Taymiyyah. Born in Syria, he lived almost in the same era of Ibn Khaldun and dealt with similar political and...

Adam Smith is known as the “Father of Capitalism” on the other hand his peer, Karl Marx, is known as the “Father of Communism. ” The thoughts of these two men differentiate as a general rule; however there is some similitude in the thinking behind...

Ethics are fundamental rule, principal and moral value to judge what is right or wrong and good or bad. It is social accepted behaviour pattern to make a rational judgement based on basic framework. To gain social protection, ethical voluntary code of conduct is applied....

Smith was born on June 5, 1723, at Kirkcaldy, Scotland. His namesake father was by profession an advocate, solicitor and prosecutor. He went to the best schools of Scotland –Burgh School of Kirkcaldy where he learnt writing, mathematics and history. He later studied Philosophy from...

In Adam Smith’s work, An Inquiry into the Nature and Causes of the Wealth of Nations he proposes a theory as to how nations generate and accumulate wealth. Smith’s work in the Wealth of Nations is deemed to be one of the most influential works...

While Adam Smith died 200 years ago, it is clear his work has had more impact than any other leader in economic history on modern economic policy. While Karl Marx and John Maynard Keynes’s prescription did not withstand the time test, Smith’s ideas are continuously...

In this paper, I will contrast three different views of free markets from Adam Smith, Keynes, and Karl Marx. Adam Smith supported the ideas of free market, and he believes that it will work positively in the economic society. “Adam Smith is usually thought to...