Marx, Engels, and Smith Capitalism Term Paper

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" (Marx & Engles, "The Communist Manifesto," Chapter 2) the little pin-maker is long sense dead, suggestted the authors of the "Manifesto." The little peasant or artisan has been replaced by the pin factory owner, and there is no nobility to the wage slavery of the worker to the factory.

Later on, in Captial, rather than the more vehement rhetoric of the politically agitating "Manifesto," Marx was to more cautiously suggest a controlled, rather than completely communal marketplace where the surplus-value "realized by the sale of a certain commodity appears to the capitalist as an excess of its selling price over its value," should be contained and better allocated to the worker rather than through pure privatization.

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(Marx, Capital, Volume III, Part 1, Chapter 1) but the more politically incendiary words of Marx and Engels regarding communal ownership are what are remembered best by history, much like Adam Smith's notion of an invisible capitalist hand that sets all excesses of the market right. Although neither concept perfectly explain the inequities or benefits of communal or capitalist economies, these concepts remain the schematic brush by which Marxism and Capitalism are understood.

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