The Portuguese were the first colonialists to establish sugar cane plantations on islands off the coast of Africa. The first cane plantations were established on the islands of Madiera and Sao Tomes. Sao Tomes was known as the largest sugar cane producer in the world and its economy grew to be one of the largest in the world
. Because sugar cane farming was and still is, a labor-intensive process, the Portuguese began importing large numbers of African slaves to the island of Sao Tomes.<span>
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Between 1607 and 1692, the rise in use of slaves as a form of labor shows that there was no socio economic mobility in the American colonies. Slavery developed gradually over this period but become extremely prevelant after Bacon's Rebellion (1676). This system of slavery ensured that enslaved Africans had no legal rights, were considered property, and could not earn wages. No matter how hard these individuals worked, they were still considered property and earned no money for their production. This is a perfect example of the lack of socio economic mobility in the colonies during the 17th century.
Sugar tabaco cotton and wood
Answer:
The economy runs better without governmental involvement.
Explanation:
In the Wealth of Nations, Adam Smith lays out a very robust theory about how the economy works, this is why many economists consider him to be the Father of the economic science.
Adam Smith's main thesis was that people, acting own their own interest, were guided by the invisible hand, leading to positive results that benefited the whole of society, even if that was not the main goal of economic actors in first place (their main goal being furthering their own interests).
For this reason, Smith thought that most government intervention was unecessary, since according to him, economic actors tended to self regulate in the market, and to produce an optimal result for society. He did justify some government intervention though: in the military, in the judicial system, and in some basic social services in order to care for the poor, the elderly, and the sick.
