= Founding father of laissez-faire. -Quizlet: = Scottish economist who wrote the Wealth of Nations a precursor to modern Capitalism. = Adam Smith (5 June 1723 - 17 July 1790) was a Scottish moral philosopher and a pioneer of political economy. = Adam Smith is significant because of his ideas regarding political economy. He is known today as the ''father of modern economics.'' = Laissez Faire economic theory. = a Scottish economist who wrote Inquiry into the Nature and Causes of Wealth of Nations who believed economic liberty was the foundation of natural economic system. He attacked England's mercantile system because he believed if hindered the expansion of wealth and production. According to Smith the best way to encourage growth was to let individuals pursue their own selfish economic life known as laissez-faire economic policy. For him the government's role in the economy should be limited to such activities as providing armies, navies, roads, and schools. = His Wealth of Nations (1776) laid the foundations of classical free-market economic theory, government should not interfere with economics. Advocates Laissez Faire and founder of "invisible hand" -Other: = Adam Smith FRSA was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment, also known as ''The Father of Economics''. 14.Manila Galleons: -Book: = Ships crossed the Manila Galleons, which crossed between Manila in the Philippines, where they picked up Asian luxury goods, and Acapulco on the west coast of Mexico, where they loaded their large cargo areas with silver. -Quizlet: = Spanish trading ships; route discovered by Ferdinand Magellan = Heavily armed, fast ships that brought luxury goods from China to Mexico and carried silver from Mexico to China. = They were Spanish trading ships that made round-trip sailing voyages once or twice per year across the Pacific Ocean from the port of Acapulco in New Spain to Manila in the Spanish East. = Connected the global silver market. -Other: = were Spanish trading ships which for two and a half centuries linked the Philippines with Mexico across the Pacific Ocean, making one or two round-trip voyages per year between the ports of Acapulco and Manila, which were both part of New Spain 15.Olaudah Equiano: -Book: = Born east of the Niger Delta, kidnapped as a slave in Africa, and crossed the Middle Passage to be sold in the New World. = Learned English and later became active in the abolitionist movement. -Quizlet: = An antislavery activist who wrote a famous account of his enslavement.
= sold into slavery at age 11; after gaining freedom, he spoke out against slavery and published his autobiography, The Interesting Narrative of the Life of Olaudah Equiano. = wrote first great black autobiography which influenced colonists = Married Susannah Cullen = Defined himself as "the African" = His narrative was: The Interesting Life of Olaudah Equiano or Gustavus Vassa, the African and it was about: end of puritan period and beginning of age of reason - slavery in colonies since 1690