In the late 1700’s and 1800’s several theories regarding the economy emerged. Some economic theorist such as Adam Smith, Karl Marx, and Friedrich Engels write about whats wrong with the economy and how they wanted to fix the economy.

The eighteenth century thinker Adam Smith (1723 – 1790) is taken as a very useful example of liberal ideas. Adam Smith was both the explained and advocate of liberal capitalism, and the forerunner of the critique of capitalism. Smith believes that societies should be protected against the invasion of other societies meaning, societies should not be affected by other societies, and all citizens should have the same justice in every way. Smith thinks the motivation of improving your self work goes to the production of goods in a economic system. People want to improve their social status with improves the economy, the reason people work is to make money and money is the foundation to a stable government. Friedrich Engles and Karl Marx, they both believed in modern day communism and socialism. they both thought that the problem with society is that it was very hard to get a job wasn't like today with you give a application and they see if you qualify, back then very few jobs not a lot of shops to work at and even if a random person got a job witch is unlikely, the job would pay horribly; and when you don't have a job your poor, on the streets and starving. So at that point you either end up stealing money and food or you just die of hunger or freeze if its cold. This is how some of the philosophers from the 1700s to 1800s thought an d how they wanted their society to change; and what they thought was wrong with the society. This is also how they thought that theie economy should change.