Question

How are Karl Marx and Adam smith different between property ownership? Help me please

Answer 1

Answer:

Karl Marx and Adam Smith are both very different when it comes to their views about property ownership.

Explanation:

Adam Smith defends private property and considers it to be not only one of the pillars of the market system, but of civilization itself.

Karl Marx, on the other hand, understands the function of private property in society, but criticizes the tendency that private property has to accumulate in a few hands, a phenomenon also known as capital accumulation, which Marx identifies as one of the pillars of capitalism. For this reason, Marx proposes an alternative property system based on common ownership, and this system is known as communism.