Adam Smith and Karl Marx

Marx believes that the task of political economy is to understand all assumptions that enable social life for a certain period of time in production and social relations. (Peterson, 17). In some countries, as Hobbes said, the lives of the poor are "hatred, savage and short-lived", whereas in other countries the poor are better at the same level of wealth . The purpose of political economy is to understand the process in which these differences occur. The two historical figures analyzing capitalism are A. Smith and K. Marx.

As the two most important economists in history, Adam Smith and Karl Marx dealt with division of labor in their work. The first chapter of Smith's "Wealth of the Countries" (Cahn, 2012, pp. 663 - 680) contains an explanation of this phenomenon, according to Schumpeter, Smith's role is more than "mere economy" That is not it. Factors of progress "(Rosenberg, 1965, p. 128). What Smith is taking is this utilitarian attitude towards division of labor. Marx showed a similar understanding of the impact of labor on division of labor and founded a class of workers who realized that their labor is just a part of social production relations (Gorz, 1989, p. 24).

In this article I will explain the analysis of capital accumulation, income distribution, and technology progress by David Ricardo, Adam Smith, and Karl Marx, major classical economists. A detailed discussion on Ricardo's research on the division of Smith's view, the use of labor theory to replace machines, Marx's capitalist theory, and that version of Ricardo's analysis will be explained. Finally, we can conclude that classical economists constitute a consistent school of thinking.