How was adam smiths position about te nececity of the free trade and free markets different from how many national economies operated during this period? explain plz my test is due

smith proposed the idea of the invisible hand—the tendency of free markets to regulate themselves by means of competition, supply and demand, and self-interest. smith is also known for his theory of compensating wage differentials, meaning that dangerous or undesirable jobs tend to pay higher wages to attract workers to these positions, but he is most famous for his 1776 book: "an inquiry into the nature and causes of the wealth of nations."

ultimately through the ideas presented in "the wealth of nations," smith changed the import/export business, created the concept of what is now known as gross domestic product (gdp) and argued for free exchange.

before the release of "the wealth of nations," countries declared their wealth based on the value of their gold and silver deposits. however, smith’s work was highly critical of mercantilism; he argued that instead countries should be evaluated based on their levels of production and commerce. this sentiment created the basis for measuring nation’s prosperity based on a metric called gdp.

before smith’s book, countries were hesitant to trade with other countries, unless it benefited them. however, smith argued that a free exchange should be created, as both sides trading become better off. this led to the increase in imports and exports and countries judging their value accordingly. smith also argued for a limited government. he wanted to see a hands-off government and legislation conducive an open and free market. smith did see the government responsible for some sectors, however, including education and defense.

it granted civil rights to african americans.

superior technology and improved medical knowledge to foster imperialism. quinine enabled europeans

to survive tropical diseases and venture into the mosquito-infested interiors of africa and asia. the combination

of the steamboat and the telegraph enabled the western powers to increase their mobility and to quickly respond

to any situations that threatened their dominance. the rapid-fire machine gun also gave them a military advantage

and was in convincing africans and asians to accept western control. the following table summarizes the

causes of the new imperialism:

causes of new imperialism

economic military/political humanitarian/religious technological

need for markets need for military bases white man’s burden new medicine

raw materials national security spread of christianity new weapons

source of investments source of

pride—nationalism

social darwinism

(superiority of western

society)

transportation

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