Washington urged Americans to avoid excessive political party spirit and geographical distinctions. In foreign affairs, he warned against long-term alliances with other nations. The address was printed in Philadelphia's American Daily Advertiser on September 19, 1796.
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Explanation:
William Baumol, the 88-year-old shoo-in for a Nobel Prize in economics, has spent years understanding why and how capitalism works. The key ingredient, he says, is the risk taker, the person willing to gamble time and money on an unproven idea. Since 1900 the U.S. has enjoyed a boom in productivity and living standards unparalleled in human history. The central actor in that rise has been the entrepreneur, supported by the four pillars of free enterprise: the free flow of ideas, the free flow of capital, open and fair competition, and respect for property rights. "It is like a mechanical watch, where if one wheel is missing the whole thing stops," says Baumol. On the following pages we kick off a new series in which we profile entrepreneurs who are champions of each pillar. Paul Tierney puts money into capital-starved Africa, seeking above-average returns. Krisztina Holly speeds the flow of ideas out of her university so they can turn into businesses. Alan Miller is one of the staunchest advocates for private competition in health care. Web pirate Peter Sunde, an unlikely hero of property rights, has a new company helping digital creators get paid for their work. They're proving Baumol's economic theory every day.
The one that best states the relationship between the government , company management, and striking workers during the late 1800s is : The government nearly always sided with companies against striking workers
Even back then, the companies had a really great influence within the government. And we still haven't acknowledge worker's right during that period.
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