Earlier quoted context omitted.
His model of human nature and projections for capitalistic growth were also totally off. Correct. The model of human nature proposed by Karl Marx was demonstrably incorrect, and the demonstration continues in the few countries that continue to proclaim allegiance to Marxist thought. An interesting fact about free-enterprise (Marx might say, "capitalist") economies is that they are based in part on the writings of Ada…
They aren't in competition. They both were geniuses. Smith did not advocate laissez-faire capitalism. He was against any kind of cartel, oligopoly, or monopoly, and wanted the state to be more powerful than corporations, not controlled by corporations. Marx was right about capitalism but wrong about incentives. Both of them should be drawn from in the creation of a next generation economic system.
In a democracy, the best way for the Government to be more powerful than Corporations, is for the people themselves to have more direct power over the Government. The more the people loosen up their grip on the Government, the more one of the 2 things happen:
1. The Government becomes more powerful than both the people and the Corporations.
2. The Corporations become more powerful than the Government, who in turn is also more powerful than the people.