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The prevailing economic theory of the late 18th century was: nationalism industrialization merc... The prevailing economic theory of the late 18th century was: marginalization mercantilism indus... Which economic theory did some members of the Industrial Workers of the World seek to abolish? ca... Which economic theory is the belief that markets should be left alone by governments, and people sho... Which economic theory is often called command or planned economies ? free market capitalism comm... Which economic theory views that each individual in society make choices on various outcomes? A -... 8. Match the economic theory, basic principles, famous works to Adam Smith or Karl Marx. competitio... The main economic theory of the late 18th century was: nationalism mercantilism marginalization... The economic theory where colonies exist to benefit the mother country is known as The main economic theory of the late 18th century was: nationalism industrialization mercantili...