<span>The concept of capitalism was devised by a man named "A. Adam Smith" who wrote a book called The Wealth of Nations in 1776, since it was Smith who spoke of the "invisible hand of the market". </span>
Answer:
Colonies were new markets where merchants could sell their goods.
Colonies provided resources for making manufactured goods in industrialized countries.
Explanation:
Colonial exploitation was beneficial to the economy of the metropoles for two main reasons resulting from the Colonial Pact.
First, the colonial pact established that colonies could only buy products from their European metropole. Consequently, the colonies became new markets for the disposal of European products.
Second, the colonies became suppliers of natural resources that were exported to Europe to manufacture.
In the end, the process of import and export between European countries and colonies was beneficial to global GDP.
An event form the Gilded age that supports that “farmer were up in arms” is when a national organization of farmers met in Ocala, Florida, in 1890 to address the problems of rural America and create a platform. They demanded that Treasury notes and silver be used to increase the amount of money in circulation and they attacked the two major parties as loyal to big businesses and Wall Street Bankers. Evidence that would support the statement about farmers in this era “His burdens are heavier every year and his gains are more meager” is the falling prices of wheat, cotton and other crops due to increased American production. As prices fell, farmers needed to grow more and more to pay off old debts, which caused even lower prices. This vicious cycle led to more debts and foreclosures.What the writer most likely had in mind when he stated, “he is beginning
