Friday, January 31, 2014

Which group of people supported free market ideas of Adam Smith?

Which group of people supported free market ideas of Adam Smith?
When Adam Smith published his work "Wealth Of Nations" in 1776 it was revolutionary. Opponents of new economic ideas that Smith presented were outraged. Smith's work was the beginning of modern classical economics. He advocated economic liberalism to replace the economies of the day, namely Mercantilism.
Smith condemned unwarranted State control and monopoly and argued for competition, private enterprise, and free trade, as the best method for producing wealth and prosperity.
Smith's supporters were peoples who saw the evils of Mercantilism which was the economic system supporting imperialism and colonialism.
His supporters were people who disliked government's control of economies.
This group included businessmen and free thinkers.

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