ECONOMICS (CBSE/UGC NET)

ECONOMICS

ECONOMIC SYSTEMS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Who were the fathers of Communism and Capitalism, respectively?
A
Locke and Voltaire
B
Meiji and Tokugawa
C
Marx and Smith
D
Cavour and Garabaldi
Explanation: 

Detailed explanation-1: -Most modern forms of communism are grounded at least nominally in Marxism, a theory and method conceived by Karl Marx during the 19th century.

Detailed explanation-2: -Adam Smith is often identified as the father of modern capitalism.

Detailed explanation-3: -The Father of Communism, Karl Marx, a German philosopher and economist, proposed this new ideology in his Communist Manifesto, which he wrote with Friedrich Engels in 1848.

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