Adam Smith was against mercantilism and against monopolies in a time where mercantilism and monopolies prevailed. He was against slavery in a time when slavery was the norm. He was against the Empire in a time in which the Empire he was a subject of was at its peak. He was against colonialism in a time in which colonialism was the backbone of power. He was against taxation without...
In the Wealth of Nations Adam Smith presents a critique of the spirit of monopoly for the way in which it led to policy that privileged the few at the expense of the many. Implicit in this view is the idea that those who gained an advantage from the privileges they secured were what we could now call rent-seekers, who were able to alter the rules of economic exchange for their own benefit....
