Adam Smith and the Influence on Early United States Economy

In the infantile beginnings of the United States economy all markets, trade, and revenue
passed through the coffers of Britain. Everything was controlled by the monarchy, a
system of Mercantilism and Imperialism created forced economic boundaries on all
aspects of the new colonial economy. All trade was taxed by unfair tariffs and all goods
could only be exchanged with the mother country of England. In 1776, the British
Economist, Adam Smith, would publish his work The Wealth of Nations. This formal
criticism would attack the British way of economy and promote the government "hands-
off" market known as Laissez-faire. These new theories of free trade and self regulating
economy and would make their way to the new North American colonies and in turn
cause economic lib...