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Marxist Criticism of Adam Smith’s Economic Ethic Thoughts

【Abstract】 Adam Smith not only was a great economist, but also a prominent eighteen century ideologist. His profound economic thinking has influenced the world for more than 100years, is famous even today, and is still the subject of extensive, scholarly research.Researchers continue to refine and perfect their understanding of his thought. But everytheory has its weaknesses. The Marxist criticism of Adam Smith’s thoughts economicethics concept is through the Marxist theory of Weltanschauung and the Marxistmethodology. First, this paper analyzes existing scholarly research on Adam Smith’sfree market economy ethic. Next, IT explains the necessity of exploring and criticizingthe ethic. Then, IT explores the rational underpinnings of Adam Smith’s ethic, especiallyin terms of human nature. Lastly, IT explores in detail two Marxist criticisms: Smith’snon-treatment of class considerations and Smith’s faulty perception of human nature.Through criticism of Adam Smith’s thoughts economic ethic, we can better understandbeliefs underlying his thoughts of economic ethic, and the economic ethic’s limitationsin terms of Social classes and epistemology. This is especially important in our country,which currently has a flourishing market economy. In this paper, we systematicallyand critically explore Adam Smith’s method of thinking, which has importanttheoretical and practical significance. We critically absorb its rationale in order to usesome of its contents to reform traditional societal and economy concepts, and to furtheradvance the development of the socialist market economy.

Title: Marxist Criticism of Adam Smith’s Economic Ethic Thoughts
Category: Economics papers economics
Filename: Marxist Criticism of Adam Smith’s Economic Ethic Thoughts.pdf
Pages: 186
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