The british theory of mercantilism by which the colonies were governed held that

What was the most important document published in 1776? The Declaration of Independence is the easy answer for Americans, but many would argue that Adam Smith's "The Wealth of Nations" had a bigger and more global impact.

On March 9, 1776, "An Inquiry into the Nature and Causes of the Wealth of Nations" (commonly referred to as simply "The Wealth of Nations") was first published. Smith, a Scottish philosopher by trade, wrote the book to upend the mercantilist system. Mercantilism held that wealth was fixed and finite and that the only way to prosper was to hoard gold and tariff products from abroad. According to this theory, this meant nations should sell their goods to other countries while buying nothing in return. Predictably, countries fell into rounds of retaliatory tariffs that choked off international trade. (For related reading, see: The Basics Of Tariffs And Trade Barriers.)

The core of Smith's thesis was that humans' natural tendency toward self-interest (or in modern terms, looking out for yourself) results in prosperity. Smith argued that by giving everyone freedom to produce and exchange goods as they pleased (free trade) and opening the markets up to domestic and foreign competition, people's natural self-interest would promote greater prosperity than with stringent government regulations. Smith believed humans ultimately promote public interest through their everyday economic choices. “He (or she) generally, indeed, neither intends to promote the public interest nor knows how much he is promoting it. By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention,” states Smith in “An Inquiry Into The Nature And Causes Of The Wealth Of Nations” (1776). This free-market force became known as the invisible hand, but it needed support to bring about its magic.

The automatic pricing and distribution mechanisms in the economy—which Adam Smith called an "invisible hand"—interacts directly and indirectly with centralized, top-down planning authorities. However, there are some meaningful conceptual fallacies in an argument that is framed as the invisible hand versus the government.

The invisible hand is not actually a distinguishable entity. Instead, it is the sum of many phenomena that occur when consumers and producers engage in commerce. Smith's insight into the idea of the invisible hand was one of the most important in the history of economics and remains one of the chief justifications for free market ideologies. The invisible hand theorem (at least in its modern interpretations) suggests that the means of production and distribution should be privately owned, and that if trade occurs unfettered by regulation, in turn, society will flourish organically. These arguments are naturally competitive with the concept and function of government.

The government is not serendipitous; it is prescriptive and intentional. Politicians, regulators and those who exercise legal force (such as the courts, police, and military) pursue defined goals through coercion. However, in contrast, macroeconomic forces—supply and demand, buying and selling, profit and loss occur voluntarily until government policy inhibits or overrides them. In this sense, it is more accurate to suggest that government affects the invisible hand, not the other way around.

Which statement best describes Lincoln’s position on the slavery issue in the 1850s?
He refused to discuss slavery in his speeches and avoided taking a position.
He was a committed abolitionist and campaigned to end slavery in the United States.
He personally opposed slavery but favored popular sovereignty in the western territories.
He opposed the spread of slavery but was willing to tolerate it where it already existed.

In the 1780s, which individual in the united states was most closely identified with the ideal of virtue

Which of the following is true about the election of 1800?



All of the these


The election went to the House of Representatives, where it took 36 ballots and Hamilton's eventual support of Jefferson to break the tie.


Because of the election, the Twelfth Amendment was adopted in 1804.


It was the first election in which power was peacefully transferred from one national political party to another.

the mass emigration of the irish in the mid-19 century was primarily a result of

1) civil war
2) mandatory military service
3) famine
4) farm mechanization

Trade along the silk roads was facilitated by

How did newspaper circulation change from the 1900s to the 1930s?

What was the first major battle of the revolutionary war, which occurred shortly after washington was named commander of the continental army?

Did mitt romney win the popular vote in 2012

What happened to the remains of adolf hitler?

Which of the following might be an example of economic dominance, which Europe, the United States, and Japan often wielded over other regions?
A. a treaty signed to form a military alliance
B. a puppet government that was supported by foreign rulers
C. a military invasion that was implemented to put down revolutionary factions
D. a commercial firm that exerted political and social power in colonized regions

What motivates Romeo to sneak into Juliet’s courtyard?

The mayan political system most closely resembles which other second-wave era civilization?

The women's Christian temperance union argued that laws concerning alcohol were necessary to:

A. Decrease social problems.
B. Ensure full employment.
C. Expand democracy
D. Protect the rights of workers.

If you were a manager , which type of office document would you use to tell the employees in your office that you will be out for two days and that your secretary will handle any questions

In the late 1800s, meat and grain were processed in Chicago and sent eastward by _____.

The Roman's first code of law dealt with which issues? Select all that apply. property rights punishment for criminals elections trade agreements

One of the reasons why andrew jackson vetoed the rechartering of the bank of the united states was that it

(tco 6,8) who created session initiation protocol (sip)? explain its purpose.

How did the missouri compromise deal with the issue of slavery?
a.it required all territories to abolish slavery before becoming states.
b.it made the mississippi river the divding line between slave states and free states.
c.it prohibited slavery in most of the former louisiana territory except for missouri.
d.it stated that all future states would be required to be slave states except for missouri?

Property ownership in colonial virginia was a "double-edged sword" because it

Which term describes the practice of big business joining together to control the production and price of a product?
a- corporation
b- cartel
c- company
d- union

What is an accurate explanation for the success of the mughal empire?

how does the modern study of history challenge earlier histories

Surat and calicut were great emporium cities with warehouses full of sea road trade goods. why were these cities ideally located to be hubs of the sea rode trade

A country in Africa is experiencing a long period of time with no rainfall. Which of the following events is most likely to occur as crops begin to die?

A. An earthquake
B. A flood
C. A famine
D. A hurricane

B. why did differences between the states cause problems of representation in the new government?

How did the free-soil party influence the election of whig zachary taylor in 1848?

What happened after lexington and concord?

What was one of the contributions made by Copernicus to astronomy?

In the early 1950's, who was convicted and executed for giving atomic secrets to the soviet union