In my opinion Traditional economy is the best method that has been worked out for a long time because I really agree when different generations do a lot of activities base on tradition. In conclusion it is better be part of yours ancestors and do what they have done.
Command economy that it is control by the government is definetly is the worst system because you do not have any freedom to express yourself and you would be manipulating by one person and that does not sound fun. For example many people in Cuba are emigrating from there but sometimes they can't make it and they have to stay in Cuba.
Monday, August 30, 2010
Thursday, August 19, 2010
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.
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.
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