Laissez faire and the invisible hand of the market

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To me, Adam Smith’s economic point of view is the most utopian, because it has yet to truly be achieved despite its support among the Western world. The invisible hand of the market seeks to destroy the “mom and pop” stores and individualized entrepreneurship, replacing them through enfranchisement, establishing large chains that are able to outsource their labor into less developed countries. Because of competition, most of the factory and agricultural labor in the United States is kept alive only through the help of government (which Smith was against). The truth is that Adam Smith’s views might have been very different in today’s age of extensive and fast transportation. With it being so easy and cheap to transport goods, why not exploit the inequality of the global economy and take advantage of cheap labor in cultures that do not adhere to the Smith way of thinking? The fact is that Smith had a disgusting amount of faith in economics and in human ethics that is ultimately untrue. Smith was right, we all are going to act in our self-interests. But when we take worldwide justice and community out of the equation of what our interests are, and limit them to making a maximum profit, checked only by our competition, the result has shown to be the exploitation of workers, a domination of franchises, and a loss of valued domestic jobs. Until all countries markets are on an equal scale and labor is valued equally worldwide, the market simply cannot efficiently work itself out. Just something I was thinking about for my economic reasoning seminar. Thoughts?