Opponents of free market capitalism (and proponents of state capitalism and socialism) often point to several historic periods during which popular opinion generally holds that a free market did exist, and produced nothing but exploitation, disaster, and criminal behavior by businessmen.

The following are not the only such periods in the history of the world, but are three that we will examine as examples of the rest.  They are:

1. The Industrial Revolution (1760 to 1830);
   
2. The Age of the Robber Barons (1875 to 1910) ; and
   
3. The Great Depression (1929 to 1940).

The Industrial Revolution which is most often referenced took place in Great Britain between the years of roughly 1760 to 1830.  The American Industrial Revolution took place somewhat subsequent to the British experience, and is not as often considered.

The so-called Age of the Robber Barons occurred in the United States roughly between the years 1875 and 1910.  The Great Depression occurred in the United States between 1929 and 1940, but actually started somewhat earlier in the rest of the world.

In each of these periods, much the same complaint is heard.

It is said that in each of the above periods, the United States enjoyed a free and relatively unregulated market, and that businessmen and "industrialists" could do as they pleased.

Because they were free and not as much regulated by government, it is alleged that these businessmen and industrialists were able to act unscrupulously and with great cruelty, taking advantage of their workers, employees, and customers.

For example, it is often taught in modern high school and college history books that during the Industrial Revolution, mill owners and factory owners conspired with the managers of their enterprises to keep wages down in an effort to push profits up.

Men, women, and children as young as six and seven years old it is said, were forced to work at hard labor for long hours, six and seven days a week in these "sweat shops", and were paid wages barely enough to keep them alive.

Conditions in these factories it is alleged were deplorable.  People were commonly crippled through their hard labor, some made into hunchbacks with club feet, others having their hands, arms, and legs torn off by unsafe machines.  Health was ruined.  People were poor and unable to rise above their situation.  They were almost without exception, exploited and victimized by the factory owners and managers.