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Europe During the Age of Metternich 1815-1848 - Saratoga High ...

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Adam Smith & David Ricardo<br />

•Beginnings <strong>of</strong> Economics<br />

–New Thoughts and Ideas<br />

× Invisible Hand<br />

× “Laissez-faire”<br />

× “Iron Law <strong>of</strong> Wages.”<br />

× When wages are high,<br />

workers have more<br />

children.

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