According to Adam Smith, the free-market system will create maximum wealth for nations and benefit all members of society. According to Karl Marx, free market capitalism will enrich only the bourgeoisie, who will use their economic power to exploit and impoverish the workers. Capitalism is an economic and political system in which a country's trade and industry are controlled by private owners for profit. Based on the examples I see today; I believe Karl Marx was right in his theory on free market capitalism.

I believe Adam Smith wanted to see the good in capitalism. I think his point of view was based on being in the upper class so, he didn't get to see the effects of capitalism. Karl Marx spoke from the point of view of the workers. He saw the long-term effects of capitalism. In the "Communist Manifesto" Karl Marx stated "as the repulsiveness of the work increases, the wage decreases. Nay more, in proportion as the use of machinery and division of labor increases, in the same proportion the burden of toil also increases, whether by prolongation of the working hours, by increase of the work exacted in a given time or by increased speed of the machinery, etc." This statement was true in the past and it still proves to be true. Today, we see many companies conducting layoffs, to eventually rehire people into positions for lower wages. The average American does not have the energy or time to participate in a hobby after work because of the occupations. The recession has made is even more difficult to maintain the life you had a year ago. There are people that must keep two jobs just to handle the cost of groceries.

In the "Sadler Report on Child Labor", a child as young as 8 years old worked 14 hours in a day. The working conditions during the industrial revolution gave rise to the mistreatment of workers. These conditions still exist today in many underdeveloped countries. In America, we put a limit on the amount of time an individual can work a week but, the hours that you do provide can't ensure a safe home to live in. So, people are forced to work longer than legally allowed. In "Wealth of a Nation" by Adam Smith, he stated "Every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest his own way, and to bring both his industry and capital into competition with those of any other man, or order of men." This statement probably was true during the 1800s but today, if a man decides not work. He makes his family vulnerable to homelessness and poverty.

Adam Smith and Karl Marx both had different ideas on capitalism. Karl Marx's idea was more accurate. The "Commission on Women Miners" gave a glimpse into the working conditions for woman in the mines. Most woman worked long hours, for minimal pay. Today, Karl Marx's ideas remain true. The working class still face injustices and are far from resolutions.

Free market capitalism was a good idea in the beginning. However, greed and selfishness changed the trajectory of the market. Now, we must find a way to make the playing field more even so more individuals can get a piece of the pie.

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