Most famously known as the author of The Communist Manifesto, Marx argued for socialism/ a lower stage of communism during the industrial revolution, encouraging public ownership of the means of production, distribution, and exchange. Profile of Adam Smith, by James Tassie, 1787: Author of the Wealth of Nations. Smith states, As subsistence is, in the nature of things, prior to conveniency and luxury. Economies can be formal or informal, and economic activity can occur in. It creates a high where people become passive and wait for their reward after death. Karl Marx Vs Adam Smith Analysis Adam Smith argued for capitalism while Karl Marx argued against. Adam Smith uses this example to address long-term economic growth. Religion is the opium of the people Religion is like a drug.
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