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Adam Smith vs. Karl Marx

Adam Smith vs. Karl Marx
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Part 1: Adam Smith & Capitalism
Short reading on Adam Smith followed by these questions:
1.Could you be a terrible baker, make baked goods that taste terrible, charge high prices, and still make money? Why / why not?
2.To make money as a baker, what would you have to do?
3.How then does the desire to make more money as a baker benefit society?
4.According to Adam Smith, why is capitalism a beneficial economic system?

Part 2: Karl Marx / Friedrich Engels & Communism
Short documents on Karl Marx with these questions to follow:
1.In your opinion, why does Engels feel that competition is bad?
2.How can people benefit from an economic system where all people work to benefit the society?


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2
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Adam Smith vs. Karl Marx