Friday, February 24, 2017

TEACHING RUBBISH posts HERE this rubbish for High School History and 5 points for the correct answer:
‘Why did Adam Smith support the "invisible hand" of the market?’
A. He believed free markets were the only way to keep society from falling into chaos.
B. He believed the economy was better off without government involvement.
C. He believed laissez-faire policies were the best way to keep the three major social classes stable.
D. He believed capitalism gave the most intelligent people an opportunity for success.
None of the above.
a Given that there were no ‘free markets’ in 18th-century anywhere and no signs of “chaos”, this does not reflect his beliefs.
b Smith saw positive roles for Government - the rule of law, defence (‘first duty of government’) - which impacted on the economy, the proposition is ridiculous.
c Smith never mentioned ‘laisssez-faire’ in anything he wrote.

d Smith never used the word ‘capitalism’. It was first usedi n English in 1854 (er, Smith died in 1790)


Post a Comment

<< Home