the Industrial revolution was the boom of factories to produce products such as clothes. The factories main use was cotton. When the demand for cotton increased the more cotton was needed to be produced in turn making agriculture rise slightly. Everyone benefited except the slaves. Another effect was the poor working conditions in the factory that led to a working class revolution
"Saratoga" is the one place among the choices given in the question that the French <span>announced support for the United States after the American victory. The correct option among all the options that are given in the question is the second option or option "B". I hope that the answer has helped you.</span>
Answer:
reason for the founding of the colony was as a buffer state and a "garrison province" which would defend the southern British colonies from Spanish Florida.
As I understand it, Laissez-faire ideology maintains that the "free market" is the best way to determine what businesses can and should do. This means that businesses, in competition with one another, should be free to determine their paths free from any government rules or regulations. The belief is that the competition among various businesses will ultimately result in the best outcomes for society in general - Adam Smith's "invisible hand". As part of this philosophy, workers should also be free to compete with each other and choose to work wherever they wish and this process will also result in the best results for the workers as well.
However, isn't there a huge assumption in this philosophy? Doesn't the whole justification of this belief depends on the condition that there is perfect competition and that any company and any worker have the equal ability to compete with one another?
What if there is no perfect competition? What if some companies have advantages - due to any of a whole array of reasons - that place them in a non-competitive position vis a vis their competitors? Without perfect competition then other companies are not necessarily able to compete with other companies that have certain advantages. If such a situation exists, then advantaged companies may have the ability to pursue a course that results in their private benefit, but not necessarily to the benefit of society as a whole. The same would apply to workers in that reduced competition among companies would result in decreased leverage for potential employees.
To recap, if the Laissez-faire ideology maintains the best economic policy for society as a whole, and it depends on there being perfect competition on an ongoing basis with minimal government intervention, doesn't it fall apart if there is less than the perfect competition?
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