Reference no: EM133473574

Question: The British were masters at mercantilism. They were able to take advantage of the resources of their colonies. In essence, the colonies sent raw materials from their areas to the motherland and they in turn made those items and then sent them back for the colonies to purchase. With this system, the Industrial Revolution was not seen in the colonies, manufacturing here was forbidden. You had to purchase from the motherland, no ifs ands or buts.

Writings and research have indicated a different perspective on mercantilism and various prominent thinkers of the time thought mercantilism was hogwash. Making sure the American colonies kept in tune to what Britain wanted, they passed more "340 pieces of legislation known as the navigation acts." Thinkers such as Adam Smith noted "these Navigation Acts were impertinent badges of slavery, imposed ... by the groundless jealousy of merchants and manufactures." Adam Smith does discuss mercantilism and free markets.

You are tasked with discussing Adam Smith's thoughts about free markets and mercantilism. You could use the Wealth of Nations to do so other author's works on Adam Smith and his thoughts of mercantilism.