Adam Smith
Beginning of paper
, a brilliant eighteenth-century Scottish political economist, had the
advantage of judging the significance ol colonies by a rigorous examination
based on the colonial experience of 300 years. His overview has a built-in bias:
he strongly disapproved of excessive regulation of colonial trade by pa ....
Middle of paper
.... 1776. In the passages which follow,
Smith points to the impossibility of monopolizing the benefits of colonies, and
pessimistically calculates the cost of empire, but the book appeared too late to
have any effect upon British policy. Because the Declaration of Independence and
The Wealth of Nations, the political and economic reliations of empire and
mercantilism, appeared in the same year, historians have often designated 1776
as one of the turning points in modern history. The text On the ....
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Word count: 4978
Page count: 19 (approximately 250 words per page)
