However, the main reason that income inequality starts can be traced back to Adam Smith and the division of labor. In his famous book, The Wealth of Nations, Adam Smith described the free market system as a "self-regulating mechanism ", which increases society's wealth and happiness. ... Adam Smith called this system, "laissez-faire " which means leave alone and let the system regulate itself. ... According to Adam Smith, "Government involvement distorted the natural and rational exercise of free, prudent choice " (The Wealth of Nations, 54). ... Adam Smith came up with theory of "The inv...

• Word Count: 1440
• Approx Pages: 6
• Has Bibliography
• Grade Level: High School

Ever since humanity began, people of all backgrounds have had to deal with how economic wealth should be shared. America could be used an example of this, even more specific, the era of 1870 to 1920. At this time in American history, mass production evolved, and people flocked to large cities such a...

• Word Count: 2083
• Approx Pages: 8
• Grade Level: High School