Question

Use the following quote from Karl Marx to answer the question below:

"Capital is reckless of the health or length of life of the laborer, unless under compulsion from society."

Source: Marx, Capital, Volume I, Chapter 10 (1867)

Answer 1

In what way is this statement consistent with the ideas of Adam Smith?

Smith knew that the invisible hand of the market was not concerned with the health of the laborer.

Smith thought that capitalism was a devastating concept that would bring misery to the masses.

Smith understood that Socialists reforms were important for the maintenance of the capitalist system.

Smith recognized that capitalism was only a short transition period on the way to communism.

Answer 2

@beccaboo333

Answer 3

give me a minute

Answer 4

"An Inquiry Into the Nature and Causes of the Wealth of Nations," also shortened as "The Wealth of Nations," documented industrial development in Europe. While critics note that Smith didn't invent many of the ideas that he wrote about, he was the first person to compile and publish them in a format designed to explain them to the average reader of the day. As a result, he is responsible for popularizing many of the ideas that underpin the school of thought that became known as classical economics.

Other economists built on Smith's work to solidify classical economic theory, which would become the dominant school of economic thought through the Great Depression.

Laissez-faire philosophies, such as minimizing the role of government intervention and taxation in the free markets, and the idea that an "invisible hand" guides supply and demand are among the key ideas Smith's writing is responsible for promoting. These ideas reflect the concept that each person, by looking out for him or herself, inadvertently helps to create the best outcome for all. "It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest," Smith wrote.

Answer 5

@beccaboo333 which one im so confused sorry

Answer 6

@shortstuff15

Answer 7

why did u tag me?

Answer 8

its not the first one or second option

Answer 9

its either the third or fourth one.. which do you think is it? ill tell you if youre wrong

Answer 10

i would go with the 4th one

Answer 11

I'm pretty sure it is that. But i'm not entirely sure.
communism: a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

Answer 12

so yes, 4th one

Answer 13

thank you

Answer 14

Which of the following systems believes that the role of the government is only to promote competition and provide public goods?

Answer 15

Capitalism

Socialism

Communism

Laissez-faire

Answer 16

The answer for the first question is actually A.

Answer 17

It's either A or D, I'm totally confused and this post even got me more confused...