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As a result this, many thinkers tried to understand this staggering changed that took place.
In addition, Britain's government pursued a relatively "hands-off" economic policy. This free-market approach was made popular through British philosopher and economist Adam Smith and his book The Wealth of Nations (1776). The "hands-off" or laissez-faire policy permitted new methods and ideas to flourish, which meant that the government could not interfere in relations between workers and business owners. In his book, Smith argued that private competition free of regulation produces and distributes wealth better than the government regulated markets...
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Common topics in this essay:
- Industrial Revolution
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