Answer:
smith stated in his theory that the free market economy is governed by "invisible hand", this stands in opposite argument of the free market economy which stated that the free market is governed by supply & demand
Erasmus of Rotterdam was one of the greatest figures of the Renaissance. Even though he received the education to be a Catholic Priest, he would become highly critic of this church. His most influential works were the rewritings of the New Testament, which served as a starting point for the Protestant Reformation during the 16th century.
He would probably support the abolishing of any sort of economic benefits received by the Catholic Church from any government. He would also support the trial of priests who have committed crimes and be completely against any sort of protection the Catholic Church would give them.
The Renaissance paved the way for an age of discovery and exploration. The Renaissance was a time when people started thinking a different way - thinking for themselves. They no longer relied on just the church for information and began to instead refer back to classical times (Greek and Roman). This led to the Scientific Revolution, Age of Discovery, and The Enlightenment.
Answer:
The primary difference between paper value and real value is that paper has no "real" value in that the currency is based entirely on faith--whereas real value (as it exists in something like Gold) is intrinsically useful.
