1. The Enlightenment: An Era of Optimism
... Smith became the father of modern economics during the Enlightenment. After in depth analysis of economies in centuries before, he came to the conclusion that getting rid of mercantilist monopolies and restrictions would give people more incentive to produce more product. Smith is also responsible for the development of the invisible hand metaphor and early stages of laissez-faire economics. The field of philosophy saw great development during the Enlightenment through the contributions of Voltaire, Helvetius ... , and Bentham. Voltaire developed his belief that an enlightened monarchy w...
- Word Count: 1343
- Approx Pages: 5
- Grade Level: Undergraduate