During The Industrial Revolution, By Karl Marx

Dear Mr. Adam Smith

My name is Karl Marx, a journalist and a revolutionary who would use my writing to represent the working class. During my involvements in several organizations and revolutions in Berlin, France, and Great Britain, I felt irritated with the way the economics and governments work in those countries. The political and economic system that is commonly applied during this period of time is capitalism. Private owners controlled all the factor of production for profit without the interference from the government. In order to stay competitive and gain high profit, the owner tended to extract the cost from labor to the lowest but high enough for the workers to survive. On the other hand, labor is originally an act of creating and

Before the Industrial revolution, and any type of economic system, wealth of a country is commonly measured by how much gold or silver it has. However, I strongly believe that the nation wealth is measured by the total of productions and the growth of its labors. As for me, for a country to push forward their productions, each individual citizens and small businesses must increase their labors effectively. This will be the light of new economic revolution. The theory is mainly based on the self-interest of each individual. Each person, for his or her best interest and need, without any interference of the outside, they will create the best outcome which will eventually lead to greater outcome for all. "It is not from the benevolence of the butcher, the brewers, or the bakers, that we can expect our dinner, but from their regard to their own

A man would be able to invest all his money and enter business for the purpose of getting higher profit without fearing the risk of government controls. He will try his best to maximize the productions. Being able to choose what he or she want to produce and what the customers’ needs would help him gain more profits. If he or she able to please the customer, his production would increase. Not only the businesses are gaining profits, but the customers are provided with good quality of product that they want. In additional, with the increasing of customers’ need, so there would be the increasing of more company with the same products which create competition and lead the economy. A nation populated with high number of successful businesses is a strong and rich nation. "No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable." Therefore, I believe free-market economic would be the best system for the