Question

How did Robert Owen's and Adam Smith's philosophies differ?

Answer 1

Smith championed the idea of universal education to promote harmony.

Smith supported a more even distribution of income than Owen.

Owen believed that economic production should be controlled by the government.

Owen wanted to let the "invisible hand of the market" guide the economy.

Answer 2

I think it's B.

Answer 3

Well, do you know the philosophies of each man?

Answer 4

Not much, but I feel like I know it in the back of my mind somewhere. I'm leaning on B but I'm not sure.

Answer 5

Well, do the terms Socialism, and Capitalism ring any bells?

Answer 6

I know what they are, but not how they relate. I'm pretty bad at history.

Answer 7

I don't have the memory for it.

Answer 8

No problem, I have the same issue with Math.

Answer 9

I'm a lot better at math actually.

Answer 10

Basically it breaks down like this:

Owen was a big guy with Socialism. During his day, there were a lot of problems with the economy, and his solution was to let the government control the means of production, and distribution of goods and labor.

This is in stark contrast to the philosophy of Smith, who was big on the Free Market, and Capitalism. Basically he wanted to let everyone try their own hand at having an idea and making it happen, and believed that if the idea was good, then the market would reward the person who had it with business. Conversely, if the idea was bad, the idea would die out because people wouldn't support it.


So, with that, do any answers stand out to you?

Answer 11

Is it C?

Answer 12

Yep, thats what I would chose if I were doing the assignment.

Answer 13

Thank you, you explained it very well.

Answer 14

Anytime!