Economic Theories of Adam Smith, Karl Marx, John Maynard Keynes and Frederick Engles
A contrast and comparison of different economic theories that were developed by revolutionary thinkers.
# 27214 | 2,233 words | 6 sources | MLA | 2002 |
Published on May 27, 2003 in Economics (Macro) , Political Science (Communism) , Philosophy (History - 19th Century) , Philosophy (History - 18th Century) , Political Science (Marx / Engels)
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The author begins by describing each thinker's ideology for sound economic measures within society. The paper goes on to describe how each thinker's theory has been applied to different economic situations and how each ideology was used as a model for solving economic overturn. The author concludes that each thinker was a product of his time, and his ideas were undoubtedly shaped by the events and trends of the day. The definitive works of these men would, by all accounts, have come about in very different fashion had they been written at a different time in human history.
From the Paper:"Karl Marx and John Maynard Keynes each made their critiques of capitalism, though admittedly using very different techniques. Where Marx called for a proletarian revolution, the abolition of capitalism, and state-control over the means of production, Keynes simply offered a prescription for government to take a more hands-on approach(usually by deficit-spending) to control unemployment, inflation, and ultimately, the degree to which a nation's economy can fluctuate up or down. Each thinker's ideas have greatly affected economic changes in the world over the past 100 years."
Cite this Comparison Essay:
Economic Theories of Adam Smith, Karl Marx, John Maynard Keynes and Frederick Engles (2003, May 27) Retrieved February 07, 2023, from https://www.academon.com/comparison-essay/economic-theories-of-adam-smith-karl-marx-john-maynard-keynes-and-frederick-engles-27214/
"Economic Theories of Adam Smith, Karl Marx, John Maynard Keynes and Frederick Engles" 27 May 2003. Web. 07 February. 2023. <https://www.academon.com/comparison-essay/economic-theories-of-adam-smith-karl-marx-john-maynard-keynes-and-frederick-engles-27214/>