Compare the philosophies of capitalism, socialism, and communism as described by Adam Smith, Robert Owen, and Karl Marx.

Explanation:

These are the laws of economy that Adam Smith introduced, and still regulate our economy today

Law of Self Interest

People work for their own good

Law of Supply and Demand

Enough goods would be produced at the lowest possible price to meet demand

Law of Competition

Competition Forces people to make a better product

Free Economy

The idea for businesses to freely regulate there own working conditions

Strongly Defended by Adam Smith

Believed that people should have freedom of how they want to work, and the wealth they accumulate

Published many novels that explained his theories on economy, but his most famous was

The Wealth of Nations

The Capitalist

Adam Smith

this led to

Owen's improvement of working conditons in his factory

Believed in helping the lower classes

He made many houses around his factory's for his workers. He set the rent low, and he also didn't employ children under the age of ten to his factories

The Believer of a Utopia

Robert Owen

Marx made little money and relied on Engels for support throughout his life, he published his Socialist theories, and made very little from them.

Written by Marx, and his co writer Freidrich Engels

The manifesto stated that the rule a factory owner had over his workers was unfair and unjust, because the workers worked their asses off on long hours, while the owners provided raw materials and collected profits

Called for the working class to converge and revolt agianst there 'evil' employers

Haves (Middle class) Bourgeoisie, the employers

Marx also divided the social classes into something he refered to as the warring classes

Have-nots (workers) Proletariat, performed the hard and labourious tasks of the factories

The Communist Manifesto

The Communist/ Socialist

Karl Marx

The Philosophers

Now some comparisons...

Although he did believe that you should work to earn your wealth, it was discovered after his death that he donated money to the poor secretly

Owen despised the idea of poverty and illness among the working class

Although all three had very different intentions, they did find it important to support the lower class, even if it was done secretly, making life easier, or composing radical pieces of work to ask for rebellion they all had a belief of supporting the lower class.

Now for the much broader topic of contrast...

Natural Laws of Economics

Laissez-faire

In 1824, He attempts to make an Utopia in the United States known as New Harmony. It was located in Indiana, but the town lasted for a short 3 years. Although the town was ephemeral, it did inspire many other such communities.

Believed that the Government should regulate the prices of all goods, and make all wages equal, in turn making all humans equal

There are certain topics that these philosophers believed in that were similar, but also very different...

Although Smith did help the lower class to an extent, he still kept true to his belief in a free market economy, and that people had to WORK and be EDUCATED to achieve the goals of which they have set for themselves, and if you dont work hard enough you don't deserve the jobs which have less physical burden.

And Owen believed strongly in giving support to the people he still asked for a level of labor and exertion, you may live in a Utopia but you must still work to achieve some form of wealth among your fellow man.

Marx entirely throws the scale off, by saying that everyone should have the same wages, even for different jobs, but as with the others he also asked a level of labor from his employees.

Which brings about another comparison between the three...

THEY ALL ASKED FOR A LEVEL OF LABOR! Each had a different range of how much one should labor, but they all believed in the aspect of not being a lazy person and making money for free, they all believed you had to go through a level of hardship to achieve any sum of money, even if it's equal to everyone elses, or 30 times the amount as the others.

the correct answer is b.

the united states constitution defines the structure of the national government and dictates the scope and limitation of its powers. the constitution is known as “the supreme law of the land” and all other laws are measured against it. the application of the articles and amendments of the constitution comprise constitutional law.

in addition to the united states constitution, each state has its own constitution and therefore, its own body of constitutional law as well. state constitutions resemble the federal constitution in that they outline the state government’s structure of legislative, executive and judicial branches as well as contain a bill of rights.

but there are various ways state constitutions differ from the federal constitution. often, state constitutions are much longer and more detailed than the federal constitution. state constitutions focus more on limiting rather than granting power since its general authority has already been established. as a result, the constitution of alabama is six hundred pages long whereas the federal constitution can be easily read in one sitting front to back.

the details in state constitutions are not particularly “constitutional” in nature. they often address topics unique to the state. the federal constitution can only be amended through a lengthy process designed to limit changes to this fundamental document. as a result, it has only been amended seventeen times since the adoption of the bill of rights in 1791.

state constitutions are more open to amendments. amendments can be proposed by legislature, a constitutional commission or citizens’ petition and can be accepted by referendum.   for example. the constitution of massachusetts has been amended one hundred and twenty times. the constitution of georgia has even been replaced altogether as many as ten times.