What did Adam Smith think of Class Conflict?

Thanks for the A2A! The classical period was obsessed with class. They believed in 3 main classes: 1. Workers. Who achieved no capital accumulation. They are lazy and slothful 2. Nobility. They don't accumulate capital. read more

Adam Smith believed that in order to look after the interests of society we must look after the interests of the capitalists (entrepreneurs), since their interests are the only interests that coincide. read more

Adam Smith argues that there are three basic social classes: 1. landowners, who live by renting their land; 2. wage earners; and 3. capitalists, who live off the profits they make. Smith describes the class consciousness and class interests of these three social groups in his own terms. read more