There are many reasons to criticize Adam Smith’s model of capitalism, first when he defended his ideals the world was a different place, most of the people worked on farms and as craftsmen and practiced the trade. When the industrial revolution came, capitalism changed deeply.
Adam Smith defended the idea of demand and offer, which would create an invisible hand that would balance the market. But the Industrial Revolution came and changed the world deeply, the laissez-faire is not a good policy because it makes room for abuses and makes disparity grow in society. Because of that, the regulation of capitalism by the government is very important so social equality is achieved.
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
B. A new Democratic voting bloc of minorities and organized labor contributed to Roosevelt's success.
Explanation:
At the 1931 Democratic Party convention, he was elected presidential candidate.
In the 1932 election, Franklin Delano Roosevelt claimed the overwhelming victory - only six states did not vote for him.
At the presidential inauguration of 1933 in March, he promised the New Deal, social measures during a time of deep economic crisis that brought him great popularity.
