Question

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What role did Adam Smith play in moving Europe away from mercantilism?

Adam Smith argued that the value of economic socialism made up for the limits it placed on free enterprise.

Adam Smith warned against the rise of free enterprise capitalism because it was too much like mercantilism.

Adam Smith proved that capitalism, not mercantilism, let to the greatest increase in a nation's wealth.

Adam Smith proved the value of factories and mass production, which were not part of mercantilism.

Answer 1

The third statement is correct: Adam Smith argued that capitalism — free markets, competition, and specialization — led to the greatest increase in a nation’s wealth, and he used that argument in The Wealth of Nations (1776) to criticize mercantilist policies.

Briefly: Smith attacked mercantilism’s emphasis on bullion, tariffs, and state-managed trade, explained how self‑interest and the “invisible hand,” division of labor, and free exchange raise productivity and living standards, and influenced Europe’s move toward freer markets.