Question

Who was the first to write about the connection between economic growth and capitalism during the industrial revolution?

A. karl marx
b. thomas malthus
c. adam smith
d. eugene debs

Answer 1

adam smith was the first to write about the connection between economic growth and capitalism during the industrial revolution

Answer 2

The right answer is c. adam smith.

Adam Smith was born in Kirkcaldy, Scotland, near Edinburgh, in 1723. Adam Smith is known as the father of economics. It is widely acknowledged that his contributions helped to reshape the subject of economics on scientific lines. For Smith, economic growth is good and is achieved by the ever-widening application of the division of labor, which is organized within markets and driven by rational self-interest. His ideas regarding the market economy and the role of the state in economics laid the foundations of the modern capitalist system.