Question

which of the following is a true statement?
A. Capitalists like Thomas Malthus believed poverty could be entirly eliminated from society.
B. MArxists like David Ricardo argued that wages vary inversely with profits
C. Socialists like Adam Smith believed that competition typical of capitalism was wasteful.
D. Socialists like Robert Owen favored a more even distribution of income.

Answer 1

The statement which is true is that socialists like Robert Owen favoured a more even distribution of income. Hence, Option D is correct.

Who is Robert Owen?

A textile manufacturer, social reformer, and founder of utopian socialism, Robert Owen was an industrialist. He was born in 1771 and died in 1858. He was famous for his textile factory model and village at New Lanark in Scotland.

The conditions were extremely harsh and very hazardous in early factories for all the employees. To overcome this condition, it was Robert Owen who favoured a more even distribution of income.

Thus, Option D, where socialists like Robert Owen favoured a more even distribution of income, is correct.

Learn more about Robert Owen from here:

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