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
ROosevelts speech was a great speech. his speech was definetly successesfull Despite being shot, he carried on. I truly think this inspired many americans.
It was a practice that directly affected the U.S. and was even one of the causes of the War of 1812. The British navy consistently suffered manpower shortages due to the low pay and a lack of qualified seamen. During wartime the navy forced unwilling individuals into service.
