Part one of term paper
Developments in the 18th century paved the way for the emergence of modern capitalism. Among these developments was the thought of British philosopher, Adam Smith. Smith tried to show the existence of an economic order that would function most efficiently if the state played a limited role. He saw in the division of labor and the extension o ...

Part two of term paper
... opposition. Abusive child labor, long working hours, and dangerous and unhealthy workplaces were common. These conditions led German political philosopher, Karl Marx, to produce his massive indictment of the capitalist system. In the late 19th century, as capitalism became a dominant economic system, opposition arose as a response to its tendency toward corporate control of manufacturing. This brought about fear of monopolies or trusts that could control an entire industry. For most of the 20th ...