Mckinley Vs Adam Smith

Compare the trade approach of Adam Smith to William McKinley
Trade Approach of Adam Smith Adam Smith, a great social scientist was referred as father of the liberal capitalism. Adam always had unique principles and beliefs on the politics and has a great manifesto of a trade approach that has greater impact on manufacturing. There were many critiques made on Adam Smith’s trade theories that they are totally applicable to the consumers but not to the companies or dealers.. Magarac an interviewer raised a question to Adam to specify his opinion on trade manufacturing (Adam Smith, 1776). Adam Smith was a free trader in life and Adam proposed many theories that are incorporated with core concepts of trade manufacturing Adam even argues that trade process is associated with various key social, economic and technological factors that highly influence the consumers and companies. Especially the traded agricultural goods are having negative impact on the
But McKinley strongly argues that is aim is to make economic developments in America trough trade approach (Adam Smith, 1776). McKinley strongly believes that every country needs trade manufacturing of goods and products in different sectors for overall country development but Adam opposed this statement. McKinley strongly believes that trade has a greater impact on the country economy because most of domestic individuals, dealers as well as the companies will be benefited with the traded goods.. Many capitalists across America abused the protectionism approach of trade, but McKinley was successful in controlling the monopolistic prices that are being initiated while performing trading process between the countries. The protectionism process was criticized by many practioners but still McKinley showed some examples of trade impact on American economy in the year