Question

- What is the role of the state in an ideal economy for Marx and Smith?

- What is Smith’s theory of development and free market and the actual globalized market?

-Durkheim’s idea of “social divisions of labor” compared to Ibn Khaldun and Adam Smith theory of DoL?

-Revise Smith/Marx/Weber/Durkheim Khaldun theory of human nature and their difference?

Answer 1

Karl Marx and Smith have different views on the role of state in an ideal economy.According to Marxian theory state is also known as the political power or organized power of one class for oppressing the other fair.Karl Marx supported the state intervention.He was against the principle of laissez faire.Accordind to Marx state had an important role to play and the social economic decisions were take by the state or not government and not merely by the producers and consumers.
On the other hand Adam Smith was against the state intervention.According to Smith theory of ideal economy the state had only limited role to play.Smith was in favor of laissez faire policy and believed in a system of free market where individuals where free to make decisions without much state intervention.

In Adam Smith theory of development, Smith was in favor of laissez faire policy and favored the idea of free market.According to Smith for the development to take place in an economy there should be minimum state intervention and individuals should be free to make decisions.Smith in his theory asserted that everyone should be given the freedom to produce and exchange goods as per their will.Smith was in favor of free market and asserted that individuals self interest will promote development rather than the strict regulations of the government.According to Smith producers should be free to produce goods as per their wish and promote the actual globalization.

In Durkheims idea of social division of labor he discusses how the division of labor benefits the society. In his theory he asserts when specific jobs are assigned to certain people the society will benefit as it will increase the skill of the workers and thus there will be an increase in the productivity.According to Durkehims theory the division of labor is directly proportional to the moral density.Moral density refers to the contact among the people .When there is greater density there is more specialization of labor.
According to Ibn Khaldum theory of division of labor there will be gain only if there is division of labor.The value of a product and gain from that product will depend upon the specialization of labor involved in producing that product.
Adam Smith Theory of division of labor has certain similarities with the Durkehims idea of division of labor.Smith also stated that the division of labor will lead to specialization and enables the workers to specialize in certain specific tasks and thus increases the productivity.Accordin to Adam Smith division of labor is a concept which states that the production process should be divided in to different stages and should enable the workers to perform certain specific tasks.

According to Adam smith humans are selfish,self centered,egoistic ,self love and are concerned for themselves.The main preference of humans was material wealth.According to Marxian theory human nature as part of the nature .According to Marxian theory the human nature is conditioned in accordance with the way in which individuals value their life. In Marxian theory humans had enough powers to protect their rights.According to Weber humans had the ability to fight against the resistance.In his theory he tried to identify the weakness of human nature .According to Durkheims theory of human nature he considers humans to be homo duplex ,egoistic and the human nature are constrained by social norms.