A Comparison of the Economic Philosophies of Adam Smith, John Stuart Mi

As far back as slice has been on earth, he has been driven towards building a community among his peers. Whether that is a community of hunters and gatherers who shargon whatever the day has brought to them indoors their tribe, or a larger community which within its structure lie the inner dwellings of partition of labor and societal classes. Adam Smith (18th Century), John Stuart Mill (19th Century), and Karl Marx (19th Century) are of the same cloth, but in modern terms their community is pen as a government, and they each have their own distinct opinions on the drive instilled within human nature that shape their personal economic theories. I will be dissecting the views of each of these economists, in regards to the role of government within their envisioned society. While showcasing the difference in views, I want to centering on the subtle similarities that these famous economists shared within their economic carry by and their beliefs regarding human nature.The firs t economist we will discuss is Adam Smith. onwards we discuss Smiths views, we will provide a brief description of the move in which Smith was able to create his assumptions, and formulate his theories. Smith canvas Social Philosophy at the University of Glasgow and the University of Oxford, the latter of which he was not as fond of. The primary economic theory at the time (18th Century) was mercantilism, which rivet on foreign workmanship and a positive balance of trade (Net Imports Net ExportsTrade Surplus). Around 1760, Smith was in France, which was horribly in debt due to the ruinous aiding of Americans against the British, amongst other reasons. Smith envisioned the government performing a larger role, one which consisted of protection through mercha... ...iety being tampered or an individual causing harm to others and deemed unfit. All of these economists looked out for the well being of mankind, even if their government-economic structures were polar opposites, they all had the intention of correcting the mankind. Some ideas translate better than others and in hindsight , a mixture of all these great economists ideas are what balances out a capitalist system.Works CitedHeilbroner, R. (1997). Teachings from the Worldly Philosophy. - W.W. Norton & Company.Marx, K., & Engels, F. (2000). Manifesto of the Communist caller . Germany Zodiac.Mill, J. S. (2001). On Liberty. Kitchener Batoche Books. (Original work published 1859)Smith, A. (2005). AN INQUIRY INTO THE NATURE AND CAUSES OF THE WEALTH OF NATIONS. Hazleton A PENN STATE ELECTRONIC CLASSICS SERIES PUBLICATION. (Original work published 1776)