Camille Gross
Reflective Blog
This week in class we discussed Karl Marx and Adam Smith. We did a very fun activity where two people had to act as Marx or Adam and what they would be like if they ever met. We also had to think about what they would do to fix the economy in other countries and in Weserville. Doing this activity really helped to understand the brilliant minds of Marx and Smith, the numerous ways to help damaged economies, and understand the differences between market and command economies. They were both very intellectual men but with very different feelings about the economy and it was so fascinating to learn about there views. The activity was very helpful in understanding their reasoning behind their views.
Reading about both of Marx and Smith's views, I would have to agree more with Smith. I approve more of a market economy because producers and consumers are the ones who really should be making their own decisions. Producers are the ones who are making the item and they should be allowed to choose who they want or do not want to sell it to. We live in a market economy and we are very use to living like this with so much freedom and it is very hard to understand what it is like in a command economy when we do not even know what that experience is like. It is hard to imagine living without the freedom to choose who to sell products to and having someone make all the huge decisions for you.
I agree that it would be very hard to imagine living without the freedom to choose who to sell products to and have someone make all the huge decisions for you. I do say that Karl Marx did have many great ideas though such as the government controlling public enterprises, so that individuals do not have to care for it. Overall though, Adam Smith really did have the best ideas overall! :) Good job old sport!
ReplyDeleteIt's true that living our entire lives in a (mostly) free market economy makes it difficult to understand what having a command economy would actually be like. I agree that the producers should be able to decide how they want to sell their products. A market economy allows the most individual freedom, which is essential to our way of life.
ReplyDeleteIt is true that I never really think about what it would be like to have no choice in what goods I could have. The fact that producers control what will be produced is much better than the government controlling everything. I do not think that I would enjoy having the government making decisions for me so a market economy is the best way to go. A market economy offers the freedom that I take for granted, but that other countries would literally kill for.
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