The Division of Labour And Its Impacts: Social Sciences Essay

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The Division of Labour And Its Impacts
Karl Marx and Adam Smith are considered the greatest economists in history. Their theories helped to establish the basis for further research and understanding of the concept of economics. In their theories, Marx and Smith held similar positions on some ideas and different ones on others. It was a war of economic ideas that would determine the fate of the world. Throughout the twentieth century, it was evident how the difference in their ideas impacted the political, economic, and social policies of different countries. To date, their philosophies of capitalism and communism are still studied. In this paper, the author explores the theories of Marx (and Engels) and Smith as regards to division of labour, wealth distribution, class polarization, and commodity fetishism.
QUESTION 1
Marx (and Engels) and Smith held different views on the division of labour within society. Smith was of the view that every working individual in society played an important role because their work contributed to the overall good of the community. It was through this theory that Smith came up with the idea of specialization. According to him, if every individual in a pin-making factory were assigned a particular role, efficiency would be maximized, and so would production. In the Wealth of Nations, he noted that “This great increase of the quantity of work, which, in consequence of the division of labour, the same number of people are capable of performing, is owing to three different circumstances; first to the increase of dexterity in every particular workman; secondly, to the saving of the time which is commonly lost in passing from one species of work to another; and lastly, to the invention of a great number of machines, which facilitate and abridge labour, and enable one man to do the work of many.” (WON: 11).
Marx had a similar view to Smith’s when it came to the importance of the working individual in society. He understood the importance of production and consumption played in an economy. However, how the economy was divided is where Smith and Marx differed. Smith held a capitalist view of the economy. He supported the system where there was a small ruling class and a large working class. However, Marx was opposed to this idea. Marx held a communist view. His standpoint was that a classless society in which everybody benefited fairly from their labour was the most desirable. As seen in part II of the October reading, Marx warned that the communists would “openly declare that their ends can be attained only by the forcible overthrow of all existing social conditions.” (FCST: 57).
The capitalist theory of Adam Smith had a significant impact on social relations throughout the eighteenth, nineteenth and twentieth centuries. During this period, there was a growing class divide. There were the wealthy ruling class and the poor working class. This was made worse by the fact that during this time, slavery was a norm. Still, there was evidence that despite the efficiency of a capitalist system, the poor working class were oppressed. During the nineteenth century, Marx’s theory brought about hope for the poor working class. They...