Compare And Contrast Adam Smith And Sergei Witte

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Almost three thousand miles apart and in different eras two significant philosophers developed antithetical economic strategies. On one hand we have the Scottish philosopher, Adam Smith, who crafted an innovative economic blueprint during Europe’s flourishing industrial revolution. In his novel, he strongly urged for a free economy based on open competition, few government regulations, and free trade. He anticipated Europe to continue growing at an even more efficient way because less government intervention allows businesses to take full advantage of resources without limitations. On the other hand, almost a century later Russia’s Minister of Finance, Sergei Witte took a different approach to improving his country’s economy. Russia’s stagnant

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