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For supporters of the ideas of Adam Smith, the most essential  condition for the...

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debbey523 | Student, Grade 11 | eNotes Newbie

Posted May 4, 2011 at 9:36 AM via web

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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.

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pohnpei397 | College Teacher | (Level 3) Distinguished Educator

Posted May 4, 2011 at 9:50 AM (Answer #1)

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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."

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