Question

Marx is sometimes considered a classical economist such as Adam Smith.

Nevertheless he differed from Smith because

Answer 1

Marx and Smith, despite being well known classical economists, differed in their opinions.

While Smith argued that Capitalism is the solution to market failures and a no-government intervention rule will always be helpful in maintaining and restoring free market equilibrium, Marx believed otherwise.

As per Marx, capitalism feeds on greed and exploitation of the poor and thus it is a big No from his side. He believed that Capitalism made the rich richer and poor poorer.

This means Capitalism is a big failure in his eyes and instead he suggested Communism or equitable ownership of resources and activities as the solution. Also, unlike Smith, Marx suggested that in order to break through the struggles of their own class, each group of people needs to retaliate to make the revolution possible.