Marx vs Smith's Views on Analyzing Current Political Issues - Essay Example

Karl Marx and Adam Smith are together since they all believe in classical economic thought. Moreover, Karl Marx is a renowned Communist while Adam Smith is associated with Classical ideologies. Therefore, adequate analysis of articles will sufficiently bring out the difference between the two theorists regarding current trends in society. Moreover, the essay will assess the debate between the different classes of thought Marx and Smith represent.

To reflect the claims above, the article in wall street journal titled, Politics Counts: the Red/Blue Retail Divide approaches issues affecting the rapid expansion of the United States economy. The United States is a two-party state, which comprises Democrats and Republicans. This article replicates that the consumption of goods and services from the party supporters differs greatly. Consumer subcultures have diversified so much that it threatens communal coexistence in the country. Democrats and Republicans have adopted different ways of shopping which if not curbed early will threaten mutual understanding. From this article, Marx's and Smith's ideologies clash. America is a democratic state so every civilian has a right to engage in activities wanted as long as it does not ruin stability in the country. Adam Smith emphasizes the free market whereas Marx articulates an economy where a ruling class should not exploit the proletariats. From this, allowing the party supporters to shop differently will aggravate political animosity in the country. Smith argues that free trade leads to increased economic prosperity while on the other hand, Marx argues that allowing free trade and competition will lead to the exploitation of workers by employers rendering them powerless. Conversely, labor should be part of the final product and employers need to conquer to step up the free competition, accompanied by a social and political constitution adopted in it, and the economic and political sway of the bourgeois class (Theriault 37).

Wall Street also carried out an article putting Some Facts in the Tax-the-Rich Debate. This article emphasizes tax fairness between the rich and the poor. For economic stability, the rich should be taxed a higher amount than the poor civilians. However, this sparked a debate among political elites among them president Obama who seconded the idea. This article has created a clash between classical and liberal theorists. Smith propagates on the political economy where he says both political and economic systems should be integrated together to achieve political stability. He bestows all powers to political elites and entrusts them with the privilege to make policies governing economic activities. Marx’s ideologies are against the political economy because it concentrates property and power on a few individuals, which leads to classes for instance propertied and propertyless. Taxing the rich more than the poor will reduce the gap between the propertied and the propertyless in society therefore, economic development will improve enabling all people to access goods and services. There are classes in the world whereby the oppressed struggle to free themselves from the oppressors that make society “a manifold gradation of social rank” (Marx 14).

The Wall street journal carried an article, States Get Say in Health Law. President Obama’s administration changed health policies, which will screen insurers’ considerations when charging insurance covers. Employer groups praised the policy but observed that it never covered the rights of small consumers who end up paying higher money than expected. Moreover, the policy will deter healthy people from paying the high premiums charged. Liberalists adjudicate for individual priority over the state; therefore, the people should have consent on policies implemented by the government. Marx argues that workers should have the freedom of doing what they want, for instance, choose the type of cover they want without state interference. According to this article, the law permits smokers to be charged 50% higher than non-smokers, which contravenes Smith’s virtues of life, for instance, self-command, prudence, benevolence, and justice. “The undeveloped state of the class struggle, as well as their own surroundings, causes Socialists of this kind to consider themselves far superior to all class antagonisms” (Marx 32).

Marx and smith's ideologies differ because Marx believes in Communism while Smith advocates for capitalism. For the economy to develop, political, social, and economic components need to merge. According to Smith, free trade creates fairness in competition and restores morality. Marx advocated for the protection of labor and the protection of their rights. The economy should be open for individual development and prosperity. These ideologies have created coherence in society as individuals try to merge them to provide social order in society.