HISTORY
THE INDUSTRIAL REVOLUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Marx and Engels, Communist Manifesto
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Karl Marx, Capital
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Machiavelli, The Prince
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Adam Smith, Wealth of Nations
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Detailed explanation-1: -By pursuing his own interest he frequently promotes that of the society more effectively than when he really intends to promote it. ACCORDING to Adam Smith, why do most individuals work? To make/earn money and to benefit themselves.
Detailed explanation-2: -“Individual Ambition Serves the Common Good.” “Wherever there is great property, there is great inequality.” “All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.”
Detailed explanation-3: -The central thesis of Smith’s The Wealth of Nations is that our individual need to fulfill self-interest results in societal benefit. He called the force behind this fulfillment the invisible hand.
Detailed explanation-4: -Question: What, according to Adam Smith, is the best way to promote collective interest? through government making decisions about what is in the public interest.