Question 3 (5 points) Use the following excerpt from Wealth Of Nations to answer the question below:
"The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with
most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever
and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.
Source: An Inquiry into the Nature and Causes of the Wealth of Nations
How does the view expressed in this excerpt compare with communist
ideology? (5 points)
•
Both believe in the private ownership of
capital and distribution of resources.
O b
Both disagree with the state
playing a large role in determining the
path of economy.
O
O d
This view differs from communism because it argues against government control of the economy.
This view is similar to communism because
argues no single person should receive the majority of economic benefits.