A major difference between Adam Smith's view of economics and that of present-day capitalist theory is that Adam Smith viewed value as a product of labor, and thus operated under the Labor Theory of Value, which was used by basically all economists until the Labor Theory of Value became central to Marxism.
<h3>
Answer:</h3>
The Proclamation of 1763 was a declaration made by the British government about American settlement.
What Did The Proclamation of 1763 Do?
The Proclamation stated that Americans could not settle any land to the west of the Appalachian mountains. The British government made the "proclamation line" which was a line that ran through Appalachia that showed the limit of American settlement. However, it is important to note that land west of the Appalachian had already been settled by many Americans, who believed they deserved that land. Additionally, the British government had almost no way to enforce this law.
Causes and Effects
The main cause of the proclamation was the French and Indian War. The war was very expensive for Britain, so they wanted to avoid possible future conflict.
But, during this time period, Americans had been used to a level of independence. Prior to this declaration, Britain had little interference in American politics or settlement. So, the sudden increase in government interference led to American resentment of the British. Also, the proclamation line was almost completely ignored by all Americans, which angered the British. The most direct effect of Americans ignoring the proclamation was that Britain sent troops to America to enforce British law.
The American resentment of the British people and government would eventually lead to Americans wanting independence. The Proclamation of 1763 and the Americans' reactions were one of the earliest signs of the Revolutionary War.
It allowed southern states to count 3/5 of the slave population as population for representatives.
