UGC 112 Adam Smith

UGC 112 Adam Smith - Gaurang Joshi Adam Smiths Wealth of...

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Gaurang Joshi Adam Smiths Wealth of Nations (WON) can be offered as a justification for the industrial revolution. WON suggests that a country should have a capitalistic government in order to be wealthy, and because of the industrial revolution European states became wealthy as an indirect cause of a more capitalistic government. More owners of business’s arose in Europe which helped in the Industrial revolution by creating jobs and making a more industrialized system throughout Europe. This is an example of a capitalistic gain. This is important because beforehand a government given job was almost the sole way to earn enough money to support a family. However now it is possible by private ownership which started the industrial revolution in England by textile mills. WON also bolsters the idea of having free competition. Adam Smith says that competition is the driving force of all humans and because of that it should be encouraged.
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UGC 112 Adam Smith - Gaurang Joshi Adam Smiths Wealth of...

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