L5eishawbitdrias
contestada

Use the following excerpt from Wealth Of Nations to answer the question below:

"The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it."

Source: An Inquiry into the Nature and Causes of the Wealth of Nations

How does the view expressed in this excerpt compare with communist ideology?

Both believe in the private ownership of capital and distribution of resources.
Both disagree with the state playing a large role in determining the path of economy.
This view differs from communism because it argues against government control of the economy.
This view is similar to communism because it argues no single person should receive the majority of economic benefits.

Respuesta :

MrZieleniewo
This view differs from communism because it argues against government control of the economy.

In his influential book, An Inquiry into the Nature and Causes of the Wealth of Nations (published in 1776), Adam Smith argued against government control of commerce and industry.  He advocated a system that allowed business owners to operate freely and unhindered.  Smith strongly criticized the economic patterns which existed at his time, which he labeled the "mercantile system." That system restricted trade and regulated which businesses had government permission to operate.  Commerce was heavily controlled by the government through charters granted to specific trading companies.

Smith countered by advocating a free market -- the opportunity for all nations to increase their wealth by exchanging goods freely with one another according to what would become known as capitalist principles.  

This view differs from communism because it argues against government control of the economy.

Otras preguntas