Adam Smith (1723-1790)

The founder of the economic system we refer to as capitalism, Adam Smith laid the groundwork for how the world was to run its business since the United States and other countries took the bold step in implementing the system. In The Wealth of Nations, Smith presented the idea that the government was not the best decision maker when it came to fiscal aspects of life. He instead argued that the market would regulate itself, with man's greed being the invisible hand that would monitor the economy and lower prices while increasing profits, the businesses would compete with each other for more sales and therefore bring more beneficial services and products to the consumer. He also argued that if man was let free, that progression would naturally follow - a point that he was dead accurate on without any debate. One could argue that The Wealth of Nations led indirectly to, among other events: The Industrial Revolution, The Cold War, and the Era of Technology.

 

 

JP Morgan (1837-1913)

JP Morgan is a shining example of what the capitalistic system can make one man. Starting out as an accountant in a banking firm, Morgan eventually began working at his father's firm where he inevitably became partner. In 1895 he reorganized the firm to be J.P. Morgan and Company, quickly establishing itself as one of the most powerful banking firms in the entire world at the time. Just prior to this huge reorganizing, he orchestrated the merger of Thomson-House Electric Company and Edision General Electric in 1891 to form General Electric, still among the premier blue chip companies in the United States' business market. As he neared the end of his life, Morgan did his best to form a vertical monopoly as he begin asserting influence over a growing share of the banking firms in the country at the time. On the day of his death in 1913, some journalists had been making the case he was the most powerful person in the world.

 

This poll closes Sunday at midnight (extra day for a weekend). As always, post your opinions, as that's the point of the whole thing anyways.

JP

 

he was one crazy dude

Smith hands down.

JP Morgan only because he is American. :mischief

 

 

No, really, its because he is one of the most influential people of the modern world. Adam Smith may have coined the concept of capitalism but JP Morgan made it flourish. But this could go either way.

Adam Smith

Adam Smith. this shouldn't be close.

Smith, because the guy who came up with the theory is greater than the guys implemented them.

Without Adam Smith, there is no JP Morgan.

JP

Adam Smith.

as successful as JP Morgan was as the premier banker in the New York district....

 

 

Without Adam Smith our economic system never does anything and the world we know today never exists.

Has to be Adam Smith. The man changed the world.

If that's the case then this isn't a fair matchup.

If that's the case then this isn't a fair matchup.

In what sense? Obviously one is going to be more influential than the other, that's the whole point of the tourney. They are both capitalists, one created capitalism while the other exceled in it. I fail to see how one side is weighted over the other by anything other than what they did for the world, which again is the point.

Adam Smith should have been around to eat Karl Marx.

If that's the case then this isn't a fair matchup.

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life also isnt fair son.

Seeing that this shouldn't be close and their is no real debate to this I figured I'd post a good story on Smith.

 

Whenever he used to work he used to do so pacing, he would get in such a trance when he was working on something important he would just meander around aimlessely ending up at the most awkward places and no one thought anything of it as they just grew used to it. He had no real idea what he was doing as he just focused on his work.

You should have had Adam Smith vs. Keynes, and Morgan vs. Rockefeller.

If that's the case then this isn't a fair matchup.

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life also isnt fair son.

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During the regular season, Smith only beat 5 ranked economists. His RPI against tycoons was horrible. The conference JP Morgan is in is so much tougher. Geez Juanky!

You should have had Adam Smith vs. Keynes, and Morgan vs. Rockefeller.

Remember, this is the first round :thumbup

Adam Smith advances (16-7) to face John D. Rockefeller in the Round of 32.