Defenders of mercantilism argued that it created stronger economies by marrying the concerns of colonies with those of their founding countries. In theory, when British colonists created their own products and obtained others by trading with their founding nation, they remained independent from the infl...
The home or residence of a person, especially in the colonies. Fellowship (transitive) To admit to fellowship, enter into fellowship with; to make feel welcome by showing friendship or building a cordial relationship. Now only in religious use. The Bishop's family fellowshipped the new convert...
Smith’s best-known ideas formed the basis of economic theory, including the invisible hand theory (the idea that free-markets coordinate themselves), the division of labor (the idea that people should specialize in specific tasks), and the measurement of economic activity (Gross Domestic Product...