Q1Workers were abused and mistreated under the factories. And since we have alreadyestablished that, I think we can go deeper and see why this is like this. and note that most ofthis stems from the idea that government should not intervene in the private sector of growth.Historically, the idea of a market economy stems from Adam Smith and the wealth of nations,which i think we can all agree on. And the main purpose of these ideas is to generally be moreefficient with what you do. It’s more efficient if each person only works on one specific thinginstead of doing everything yourself. This is why factories obviously improved the economyquite a bit more than serfdom.Now back onto the issue regarding worker abuse, if i remember correctly, smith did not actuallytarget this issue, because according to his book, the wealth of nations, he states that there werethree main principles of economics which are quotethe law of self-interest—People work for their own good.the law of competition—Competition forces people to make a better product.the law of supply and demand—Enough goods would be produced at thelowest possible price to meet demand in a market economy.And prioritizing this is what i would argue, was a big mistake. He did not look at the fact thatthere would be a lot of worker abuse as well as worker mistreatment. And because he did notlive to see his ideas put in place, he had no way to predict that their would be this level ofabuse. Thus, he kept pushing the narrative that the government should not intervene, and thus,we ended up with people that are using his ideas in the modern day.
