1. Industrial revolution
... They also had rich people who were willing to invest in capital and a laissez-faire government who allowed and cooperated with this new industrializing economy and society. Adam Smith was an economist who wrote the book "A Wealth of Nations" which laid the framework of a free-market economy which included and disputed issues of economic freedom. ... It covered such concepts as the role of free enterprise, the division of labor, the function of markets, and the international implications of a laissez-faire economy. Smith states that the property which every man has in his own labor, as it ...
- Word Count: 1284
- Approx Pages: 5
- Has Bibliography
- Grade Level: High School