Issue 1: Can Capitalism Lead to Human Happiness?
This issue consists of supporting and opposing arguments. Adam Smith explains the supporting argument; and Karl Marx and Friedrich Engels jointly explain the opposing arguments; all well known philosophers. The debate at hand is whether the capitalism economic system or communism economic system provides the most contentment to people. Adam Smith: YES
Smith argues, ”If we will but leave self-interested people to seek their own advantage, the result, unintended by any one of them, will be the greater advantage of all. No government interference is necessary to protect the general welfare.” Smith supports his argument by explaining, what most people consider the “American Dream”. He is very detailed in describing the process of developing wealth through manufacturing goods and services. He covers the division of labor, explaining that a manufacture owner employs a small number of the population to work to deliver the demands of the greater population. Each division of the manufacturing process conducts specified duties and tasks to create a part of the manufacturing process. The manufacturing process includes both skilled and unskilled labor. By dividing labor and creating specialized areas of the process increases the quantity of output within a shorter time period. As the process is further separated, so is the compensation, which creates a great division of class. The invention of machines has allowed one man to complete the task of many workers. The manufacturing process also creates multiple opportunities for other manufacturing owners to create an item or fixture to be utilized in the manufacturing of the main product. Considering this type of work environment will create a difference in class. The highest class will be the wealthiest, the private owner. The owner would employ all the other classes and level of wealth will be determined by position and compensation, the poorest being the worker the least...
Please join StudyMode to read the full document