History Market structure

market structure has historically emerged in 2 separate types of discussions in economics, of adam smith on 1 hand, , of karl marx on other hand. adam smith in writing on economics stressed importance of laissez-faire principles outlining operation of market in absence of dominant political mechanisms of control, while karl marx discussed working of market in presence of controlled economy referred command economy in literature. both types of market structure have been in historical evidence throughout twentieth century , twenty-first century.