Comparative Advantage and Capitalist Systems
Imagine the exhilaration that was in the air as the founding fathers of the United States sat down in 1786 to draft the Constitution. Working from the ideals of Montesquieu, Jean-Jacques Rousseau, John Locke, and Edward Coke, they sought to design a more perfect nation, incorporating democratic principles into a new republic. They had a wealth of emerging thought about government and freedom to inform them. They combined and recombined their ideas until they had created a republic that would fit the circumstances of the new country and its place in the world.
They knew that they ...