At the time, conditions were perfect in Britain for the Industrial Revolution. ... What set Britain apart from the others however, were three unique social elements: education, "modern" work attitudes, and a "modern" government. ... The Enlightenment had not only meant a larger educated population but also more modern views on work. ...
Among these false perceptions include the view that the people of Lesotho have not had modern conveniences of schools, hospitals and roads even after independence and they have migrated to their "rich" neighbor, South Africa, as a response to declining agricultural production. However, Ferguson provides evidence that most of the people of Lesotho largely derive their income from wage labor, had established modern hospital, schools and markets even during colonial times, and migrated to South Africa long before a decline in agricultural production to buy other goods as well as to pay...
Free trade only works in a world of perfect conditions, meaning that all countries follow suit and remove barriers to trade but in fact western nations have gradually increased their barriers preventing the access of goods into their markets. ...
Adam Smith was born in Kirkcaldy, Fife, Scotland in 1723. His father died before he was born and was raised by his mother. He attended Glasgow University for three years and later on went to Balliol College, Oxford for the next six years of his life. Afterwards, he decided to return to Kirkcadly in 1746. In 1751, Smith was appointed professor of logic at Glasgow University, transferring in 1752 to the chair of moral philosophy, lecturing on several topics including natural theology, ethics, and political economy. ...
