Marx and Mill View on Socialism and Labor Theory of Value

Marx and Mill View on Socialism and Labor Theory of Value
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Marx and Mill View on Socialism and Labor Theory of Value
Karl Marx and John Stuart Mill are some of the iconic figures in the field of social sciences. In most cases, Marx’s concepts are highly rated compared to Mill’s. Researchers have associated this with the aggression with which Karl Max showed when making his pronouncements. These two individuals played a vital role in shaping socialism in the current world. Most of their concepts around socialism and value theory on labor are in line. However, not all their ideas conform along with each other. This paper shall compare and contrast some differences in the concepts of Marx and Mill regarding socialism and the labor theory of value.
Marx and Mill View on Socialism
      One of the significant contrasts between Marx and Mill concepts is their views on socialism. Both of them advocates for equal distribution of wealth within the members of the society. This is because Marx and Mill are opposed to central form of government through which all the bureaucracies of production are directed. For instance, Marx’s concept of socialism requires individuals to produce enough products, and this should be done only when necessary (Marx, Engels & Hobsbawm, 2012). On the other hand, Mill’s theory on socialism demands that the demand for the product should influence human production.
      The socialism concept of the two individuals, as stated above, might appear to be the same in a typical context. However, there seems to be a thin line between the concepts. This is...