Industrial Future Essay

292 Words2 Pages
The Industrial Future 1. Look back at the chart you created to compare and contrast the ideas of Adam Smith, Robert Owen, and Karl Marx. Then consider what you have learned about life in the late nineteenth century. Imagine that you are reading the works of Smith, Owen, and Marx in 1900. Whose ideas do you think offer the most hope for improving the industrialized world as you see it in 1900? Why? Write a short essay of one or two paragraphs that: • Names the man whose ideas you think offer the most hope for improving the industrialized world • Briefly describes his political or economic philosophy and his ideas • Explains why you think his ideas offer the most hope for improving the industrialized world. All of the information you need to address the first and second bullet points above should be included in the chart. You will be graded on content, organization, and mechanics (grammar, punctuation, spelling, and sentence structure). Submit the essay to your teacher by the due date to receive full credit. Answer: I think Adam Smiths ideas offer the most hope for improving the industrialized world. He was a Scottish economist and he also was a capitalist. His opinion on the industrial world was that competition would make business more efficient and keep prices down. He thought that the business owners should receive the profits made. He also thought that individuals who will be guided by market forces should own or control the resources, or means of production. I think his ideas provide the most hope because if the prices are low than more people will be buying stuff and making the businesses money. Therefore Adam Smiths ideas would be the best idea for improving the industrialized
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