ECON 307

In Class Exercise Fifteen - The Socialists and Marx

1.  Generally, how is socialism defined?

2.  Most of the socialists did not see the limits of nature as the problem (in the 1800s) - but instead it was what? 

3.  Explain a criticism of capitalism given by the socialists of the time.  Do any of these criticisms remain today?  Explain.

4.  Explain one of the alternatives the socialists gave (to capitalism)?

5.  What is Marx's "Dialectical Materialism"?

6.  What is the prime mover of history, according to Marx?

7.  Explain Marx's "social pyramid" -- what is it saying, generally speaking?  Can you draw it?

8.  What would communism allow that capitalism did not, according to Marx?  Why?

9.  So how do Smith and Marx differ with respect to human nature and individual choice?

10.  Do you have any other questions over this material?