The Industrial Revolution has produced some negative side effects to society, such as child labor, hazardous working conditions, and low wages. In 1776, Adam Smith wrote The Wealth of Nations. He believed that if capitalism was allowed to run its course (without government regulations, little to no taxes for industrialists, and free markets), then the greed and self-interest of industrialists would produce wealth. In turn, the increased wealth would benefit not only the individual, but society as well? Do you agree that industrial capitalism produces wealth, which in turn, serves to benefit society?
- a citation from Chapter 21, Adam Smith’s Wealth of Nations, pp. 759-765 and/or Karl Marx’s Communist Manifesto, pp. 769-776
- a citation from any other primary source featured in Chapter 21
- Make specific references, and include specific examples