Understanding History Through Art Essay Example

Art helps us to understand history better. Through the works of Adam Smith, who is mostly regarded as the father of modern economics and Karl Marx, the industrial revolution is explained and can hence be better understood. A Wealth of Nations by Smith specifically highlights the advantages of capitalism in the economy and development of nations. Capitalistic economies are where people perform and dictate their economic activities and processes on their own. In this type of economy, wages and price usually adjust themselves through self-adjusting mechanism often brought by market forces in the economy. His ideas are more common in the current economic systems in the world. In this setup, people follow their interests and are permitted to do so by the governments and leadership systems that exist at the said time. He mainly believed