Comparing and Contrasting Across Topics

Question 1

How are Ricardo and Adam Smith similar?

Answer 1

Both like SPECIALIZATION and FREE TRADE to create more output and consumption for everyone!

For Adam Smith: It’s on a person level (each person does their own task for making a good)

For Ricardo: It’s on a country level (each country makes their own good)

Question 2

Compare and contrast economists on the Stationary State

Answer 2

Question 3

Compare and contrast the ideas of Adam Smith, Ricardo and Marx on theories of value

Answer 3

Question 4

Compare and contrast the ideas of Adam Smith, Ricardo and Marx on specialization

Answer 4

Adam Smith and Ricardo liked SPECIALIZATION (for AS, on person level making a good. for Ricardo, on national level making a good) and TRADE to increase output/consumption

Marx did NOT like specialization bc he thought it dehumanized workers and alienated them