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For supporters of the ideas of Adam Smith, the most essential condition for the...
For supporters of the ideas of Adam Smith, the most essential condition for the development of capitalism is
A. Class of entrepreneurs willing to risk capital for profit
B. Program of government grants to stimulate investment
C. Literate population capable of acquiring industrial skills
D. Strong transportation system capable of quickly moving goods.
1 Answer | add yours
Since your question asks about the supporters of Adam Smith's ideas, as opposed to Smith himself, I would argue that the best answer is A.
For whatever reason, Smith himself did not talk about entrepreneurs. However, an admirer of his named Jean-Baptiste Say did talk about them a great deal as he expanded on Smith's ideas. Say argued that entrepreneurs are the ones who create new markets and new opportunities and who, thereby, drive the development of capitalism. Without entrepreneurs, there would be no one to take the risks that allow capitalism to develop.
While the other options might all help build capitalism, none of them is actually "essential."
Posted by pohnpei397 on May 4, 2011 at 9:50 AM (Answer #1)
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