Relationship between employers-employees under capitalism

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Assignment:

Source: The Wealth of Nations by Adam Smith, a Scottish Enlightenment philosopher. Published 1776. What are the common wages [payment] of labor depends everywhere upon the contract usually made between those two parties, whose interests are by no means the same. The workmen desire to get as much, the masters to give as little as possible. The former [the workmen] are disposed to combine in order to raise, the latter [the masters] in order to lower, the wages of labor. It is not, however, difficult to foresee which of the two parties must, upon all ordinary occasions, have the advantage in the dispute, and force the other into a compliance with their terms. The masters, being fewer in number, can combine [work together] much more easily; and the law, besides, authorizes, or at least does not prohibit [prevent] their combinations, while it prohibits those of the workmen.

1) Describe the relationship between employers and employees under capitalism?

2) Why does Smith believe there will always be a conflict between wage workers and capitalist owners?

3) Who does Smith believe will often win the dispute between wage workers and capitalist owners? Why?

Reference no: EM133696517

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