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The success of Adam Smith is explained by the fact that his theories rationalized the activities...

The success of Adam Smith is explained by the fact that his theories rationalized the activities of the rising capitalist class. Explain.

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Answer #1

One way to go about it would be to deal with two theories

1. Value in terms of labour

Smith out more emphasis on the labour force which was assciassoc with creating value in the market. So the greater the labour force the greater us the value created. The greater the value the greater is the profit for the capitalist class. Hence we see the emergence of slavery.

2. Accumulation of capital

The more the capital a country has the greater is the growth for the country. So the capitalist class started investing in the creation of new world and expedition to find new countries to control.

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