1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tju [1.3M]
3 years ago
10

who believed the best economic system was one in which businesses compete to gain profit with minnimal or no goverment control?

History
1 answer:
xxMikexx [17]3 years ago
3 0

Answer:   Adam Smith

Scottish philosopher Adam Smith (1723-1790) was strongly critical of the economic system that prevailed in his era.  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.  Colonies were created to provide raw materials and resources to the mother country and a market for the mother country's products.  Commerce was heavily controlled by the government through charters granted to specific trading companies.

Adam Smith countered by advocating a free market -- the opportunity individual businessmen and for all nations to increase their wealth by exchanging goods freely with one another according to what would become known as capitalist principles.  We also speak of <em>"laissez-faire"</em> ("let go") as a term for this sort of free-market economy, set free from government controls.  This term came from a French group of thinkers called the Physiocrats (meaning "rule by nature') who were working during the same 18th century era as Smith. The Physiocrats and Smith were in agreement about getting government out of the business of controlling business.

You might be interested in
what are some are some of the of the persecution that st. paul and other early Christions missionaries faced?​
yan [13]

Answer:

What were some of the Challenges that saint paul and other early christian missionaries faced? Tension with Jews, authorities, and they were persecuted for their faith. Describe the Scene on the morning of Pentecost from the point of view of one of the people of Jerusalem

8 0
2 years ago
What was the Double V campaign?
viva [34]

Answer:

The Double V campaign was a slogan and drive to promote the fight for democracy in overseas campaigns and at the home front in the United States for African Americans during World War II.

Explanation:

7 0
2 years ago
Read 2 more answers
Which of these statements about the Cuban Missile Crisis is true?
Afina-wow [57]
The statement about the Cuban Missile Crisis that is true would be that "<span>d. President Kennedy removed nuclear missiles from Turkey to resolve the crisis," since this was the only way to get the Russians to remove their missiles from Cuba. </span>
7 0
3 years ago
Which was not part of the irish experience on their arrival in the united states in the late 1840s and 1850s?
Ghella [55]
Soon after their arrival most Irish became strong proponents fo the Republican Party
7 0
3 years ago
The term "Hellenistic" is BEST defined as which of these? A) the philosophical movement led by Socrates, Plato, and Aristotle B)
Vadim26 [7]

Answer:

the answer is d

Explanation:

i did it and i got it right

3 0
3 years ago
Other questions:
  • The document that officially ended the american revolution was the _______.
    5·1 answer
  • Why was controlling the Mississippi River vital to the North and the South during the Civil War?
    8·1 answer
  • In the 1840 president james k polk belief in manofest destiny led to
    8·1 answer
  • What continents were affected by the spread of Islam
    8·1 answer
  • What are the two events, one in Europe and one in the Pacific, that you feel where the turning points of the war with respect to
    5·1 answer
  • A "nativist" of the late-1800s would have been MOST likely to support
    7·2 answers
  • Which are accurate statements about how Eleanor Roosevelt changed the traditional role of First Lady?
    15·2 answers
  • Who is considered to be the "Commander in Chief" of all US armed forces?
    8·1 answer
  • How does power shift during the great war of 1920s to 1930s time period? What groups that were powerless or had limited power sa
    8·1 answer
  • How do we see the Enduring Issue of Conflict affect the Greek city-states through the Greco-Persian and/or Peloponnesian Wars?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!