Historical Context:Accompanying the Market Revolution America began to notice greater extremes in wealth distribution. In big cities like NYC the top 1% of the wealth holders owned a quarter of thetotal wealthin 1825 and by 1850 owned 50%.Adam Smith foresaw this possibility as he developed his ideas in The Wealth of Nations.In fact, Smith thought his greatest contribution to intellectual thought was The Theory of Moral Sentiments where he recognized the potential for a widening gap in wealth in a free market economy.Karl Marx explored this phenomenon in his book The Communist Manifesto in 1848.Question:Is the current market revolution producing the same type of wealth gap in America?Explain!