Answer:
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Explanation:
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Speak softly and carry a big stick you will go far
In 1796 Farewell Address of President George Washington, he warned the citizens that the forces of geographical sectionalism, political factionalism and the involvement of foreign powers in the nation's affairs will threaten the stability of the Republic. The European interest that Washington has in mind is to protect the nation from the possibility of foreign influence and corruption. This will change the policy of one country subject to the policy of the other. He said that Europe has a set of interests which are not related to our nation. He also stated that foreign influence is alarming to an enlightened and independent patriot.
Indeed, during the 20th Century, the general trend in the United States was to move closer to the ideas of Adam Smith about the role of government.
<h3>What were the ideas of Adam Smith about the government's role?</h3>
Adam Smith, who emphasized the importance of productive labor, self-interest, capital investments, and profits, believed that the limited and well-defined role of government in capitalism should concentrate on:
- Enforcing contracts
- Administration of justice
- Provision of public goods
- Provision of national defense
- Granting of patents and copyrights
- Encouraging inventions and new ideas.
Adam Smith declared that the invisible hand or self-interest should guide economic productivity because capital investments always aim toward profitability.
He firmly believed that the market forces of supply and demand, division of labor, and pursuit of self-interest, with little government intervention, should form the bedrock of capitalism.
Thus, it is true that during the 20th Century, the general trend in the United States was to move closer to the ideas of Adam Smith about the limited role of government.
Learn more about Adam Smith's ideas on capitalism at brainly.com/question/15619229
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