The Canadian Economy- Smith Or Marx Theory?
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|The Canadian Economy- Smith or Marx Theory?
The economic concepts that were visualized by Adam Smith and Karl Marx lead to the idea that Canada fits towards both quite well. Their concepts are reflected quite clearly in the economic situation of Canada, and the theories of both can be applied. In a way, both Marx and Smith would be pleased with the economy of Canada, as it lends to their ideas and presents a positive economy for Canadian residents. While some may argue that Canadian economy should be a bit more as their southern neighbor the United States, it is also argued that Canada’s mixed economy provides a perfect blend of corporate and government responsibility.
When it comes the Smith’s theories, the one that stands out the most would be his theory of the “invisible hand”. This “hand” controlled the economy by driving prices down through competition and resources. This metaphorical “hand” exists today in Canada, as the citizens benefit from vari...
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