Answer: Dwight D. Eisenhower was the United States President in the year 1957.
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Two major events triggering modernization of the middle ease would be World War I that started the rise of ethnic consciousness, overthrowing the ottoman rule. And the founding of Israel on 1948 which had established better access to other countries around the world starting the resolution of conflict with the help of UN which will then allow the countries to develop.
Adam Smith criticized what he called the "mercantile system" because it restricted trade and thus restricted economic growth. The mercantile system believed the wealth of the world was a fixed amount, measured primarily in gold and silver accumulated. The system promoted a nation selling its products abroad but not needing to buy from others, or imposing heavy tariffs if importing anything. Commerce was heavily controlled by the government through charters granted to specific trading companies.
Smith countered by advocating a free market -- the opportunity for all nations to increase their wealth by exchanging goods freely with one another according to what would become known as capitalist principles.
One of the most significant indicators that public opinion was shifting away from American isolationism in the years leading up to the US entering World War II, was that Americans began to be comfortable with the US sending military aid to countries like Great Britain.
