Basic Economyc Concept Level 3

Karl Marx and Adam Smith have some similirities and differences. Also both of them write and study. Smith's earn his reputation by explaining how national self-interest in a free-market economy leads to economy well-being. For the other part Karl Marx was communist most zealous in intellectual advocate. The purpuse of them is similar in some of their thoughts.

Smith's entered the University of Glasgow when he was 14 years old. Marx enrolled in the University of Bonn at the age of 17. Both of them want to study philosophy but only one of them achieved their dream. Smith was the only one supporterd by his family to study philosophy. Marx could not study philosophy because his father want him to study law.

Marx married and had seven children, but due to poverty, only three survived to adulthood. Smith never married and seems to have maintained a close relathionship with his mother, with whom he live. Smith's published works, one of them was the Invisible Hand where he presents the benefits of society when people behaved in their own interest. Marx's thoughts demonstrates strong influences like Adam Smith in classical political economy.

Finally both of them have similarities and differencess. Although they are in different belief but that does not matters because they are in the economy.