Asked by Charbel Basset on Sep 24, 2024

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In Principles of Political Economy,John Stuart Mill

A) called for the uprising of workers to achieve better working conditions.
B) agreed with Adam Smith that the "invisible hand of the market" should be setting wages for workers.
C) agreed with Adam Smith that workers should not be overpaid but instead of market forces he claimed that God was in charge.
D) disagreed with Adam Smith and called for the government to help the workers.
E) asserted that the government should set prices and wages.

Political Economy

An interdisciplinary branch that studies the relationships between individuals, governments, and public policy, focusing on the economic implications of political actions.

Adam Smith

A Scottish economist, philosopher, and author known for his theories on free market economics presented in his book "The Wealth of Nations."

Invisible Hand

A metaphor introduced by economist Adam Smith to describe the self-regulating behavior of the marketplace, where individuals acting in their own self-interest inadvertently benefit society at large.

  • Comprehend the economic policies of the 19th century and their effects on industrial and social development.
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Madlyn Martin2 days ago
Final Answer :
D
Explanation :
John Stuart Mill disagreed with Adam Smith's laissez-faire approach and instead advocated for government intervention to protect workers and ensure better working conditions. He also argued for labor unions and collective bargaining as a means for workers to improve their circumstances.