Wealth brings with it its own checks and balances. The basis of political economy is non-interference. The only safe rule is fou
nd in the self-adjusting meter of demand and supply. Do not legislate. . . . make equal laws: secure life and property, and you need not give charity. Open the doors of opportunity to talent and virtue, and they will do themselves justice, and property will not be in bad hands. In a free and just commonwealth, property rushes from the idle [lazy] and brainless, to the industrious, brave, and persevering. Read the quotation by Ralph Waldo Emerson.
Which of Adam Smith’s ideals are reflected in the quotation from Emerson?
Greater competition will benefit the consumer.
Private ownership is the basis for success.
Government should not play a role in the free market.
Only industrious people should have access to capital.
Government should not play a role in the free market.
Explanation:
It is because of this that it is known as a “free-market economy.” So is it because the government should not tell the economy where to go. When there is government control or interference in the economy, it can no longer be considered free.
By 1860, the slavery issue had come to a head. The slavery issue split the Democratic party into Northern and Southern factions, and each ran separate candidates. The Republican candidate, Abraham Lincoln won.
Voltaire called the late eighteenth century, "the century of revolutions." What examples does the text include to explain the broader context for voltaire's comments?
