Ideal Ideal: Comparison, Contrast, and Synthesis of Marxist Socialism and Adam Smith's Capitalist ideals

Ideal Ideal The Industrial Revolution and its shifts in economic thinking can easily be considered one of, if not the, most influential elements shaping the western world as we see it today. These shifts in thinking, rooted in the writings of many 17th and 18th century philosophers, led to shifts in legislation, political structure, and new class lines were drawn. The function of this new system, the capitalist system, has been pondered, discussed, and written …

…be effective for the entire class structure. By taking elements of both, a more just society that promotes excellence through competition, as well as equity of opportunity, a more just society can be formed. Both capitalist and communist views represent utopian societies, but neither functions as intended. Only through a regulated capitalist market coupled with social reform and equitable legislation can a society exist which rewards hard work and shows compassion toward the working class.