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2009-10-15 17:13:22
2009-10-15 17:13:22
Colonial Capitalism

When the American colonies were still part of the British empire, and later when they declared their independence,the capitalistic system, as we know it today, did not exist. Modern capitalism developed after the Civil War, but while we were still colonies, the ideas of capitalism were governing the British and Colonial economies. The father of modern capitalism is Adam Smith, but America had its share of capitalistic minded men such as Alexander Hamilton and Benjamin Franklin. The purpose of the colonies was to provide material to Great Britain, who in turn would manufacture goods for sale back to the colonies and to other nations. This was known as the mercantile system. In that sense, Britain and America were capitalistic nations. MrV

The answer of your question would be Adam Smith.

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