Adam Smith Wealth of Nation

Adam Smith Wealth of Nation

Adam Smith Wealth of Nation

Adam Smith discussed the benefits and costs of European colonization in The Wealth of Nations. Smith discussed the general benefits that the whole of Europe derived from having some of its constituent countries in possession of colonies. His views were divided into the benefits that Europe enjoyed as a whole from the discovery and colonial control of other countries and benefits that individual countries enjoyed from having colonies. In particular, he examined the impact that the discovery of America had on European economies. He also expounded on his thoughts about the mercantilist system which he saw as an impediment to the creation of wealth.

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The impact of European colonization on the Native peoples of the East and West Indies Adam smith was of the opinion that the indigenous peoples of the East and West Indies had fallen on misfortune due to the effects of European colonization on them. He specified that the situation they found themselves in was as a result of their inability to defend against the overwhelming European force. The Europeans according to Smith had used their superior military strength to conduct all manner of injustices on the natives. He was of the opinion that all inhabitants; both native and colonials should be treated equally as it would increase the productivity of the locals.

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