Topic > Laissez Faire Essay - 865

Although Adam Smith is an influential advocate of laissez-faire, he stated that "no society can surely be prosperous and happy, of which the greater part of the members are poor and miserable" (Henry). Naturally, as in any society, individuals have different levels of prosperity, whether they have it from birth or whether they have acquired it (Coldwell). Usually those who enjoy an abundance of prosperity in the upper class are the producers and private sectors of the economy, while the middle and lower classes are the dissatisfied and underpaid working class. In order for the working class to earn more, the increase in wages would have to come from the wealth of the producer. To counter this phenomenon, the manufacturer could impose longer working days or even more work, once again causing worker dissatisfaction and their pay not being sufficient for their economic development. Therefore, the rich get richer while the poor get poorer and inequality between classes