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Word Count: 650
Capitalistic Society Labor had an important role to play in the development of a capitalistic society This is the belief of a man named Adam Smith His view on the issue of labor in his time is illustrated in THE WEALTH OF NATIONS The role of labor is independent on the economy because for an economy to exist laborers must work Another economist by the name of Karl Marx held a different perspective on the importance of labor Smiths plan pertains to the development of capitalism because it involves the main characteristic of a capitalistic economy Labor was the source of income for the laborers During Smiths time every economic issue is based on private ownership of means of production and on individual freedom In able for a business to prosper they must have laborers to work for their business These owners have individual freedom which allow them to have free enterprise one main characteristic of a capitalisitec society It also allows to hire people to work for their company The number of useful and productive laborers it will hereafter appear is everywhere in proportion to the quantity of capital stock which is employed in setting them to workWealth of Nations 105 The laboreres people that work for that certain industry in return get a minimal income just barely enough to survive Labor for certain individuals was the key to survival If the laboring poor therefore could bring up their familiesenough income then they must be much more at their ease nowPoor of the Poors 288 As for the production owners labor is the key to the survival of the business Without the required labor thier company would not be in a good potential state In able for the industry to run someone must be their to run it labor-wise Even though labor gas diferential meanings for the poor and the production owners it plays
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