What is the most famous work of Adam Smith?
Adam Smith is known primarily for a single work—An Inquiry into the Nature and Causes of the Wealth of Nations (1776), the first comprehensive system of political economy—which included Smith’s description of a system of market-determined wages and free rather than government-constrained enterprise, his system of “
Who were Necker and Turgot?
In April 1778 he remitted 24 million livres from his own fortune to the royal treasury Unlike Turgot – in his Mémoire sur les municipalités – Necker tried to install provincial assemblies and hoped they could serve as an effective means of reforming the Ancien régime
Who financed the French Revolution?
In 1781, the French navy blockaded Lord Cornwallis’s army at Yorktown Turgot’s successor Jacques Necker, a Swiss banker, financed these expenditures almost entirely through loans Although successful, France’s intervention cost 13 billion livres and almost doubled her national debt
Why did Louis XVII fire the financial advisor?
Louis XVI dismissed his financial advisor, Jacques Necker, in 1789 because Necker had made financial and political proposals that seemed to favor the
What two major reforms were proposed by Necker?
Necker: Loans and Debt He gained popularity by regulating the finances through modest tax and loan reforms
Who was French king during American Revolution?
What was the effect of Louis financial reforms?
Louis XV attempted fiscal reforms that included the taxation of the nobility but his foreign policy failures weakened France and further strained its finances As a result of lost wars, Louis was forced to cede many territories, including lucrative overseas colonies
How much debt was France in after the American Revolution?
France’s help was a major and decisive contribution towards the United States’ eventual victory and independence in the war However, as a cost of participation in the war, France accumulated over 1 billion livres in debt, which significantly strained the nation’s finances
What were the weaknesses of the French monarchy?
Weaknesses rose in their foundation They had to increase taxes and bad harvests led to a lack of food for the peasants who began to revolt The National Assembly was created by the Third Estate Violence erupted throughout France, such as the storming of the Bastille in 1789
How did the financial weaknesses of the French monarchy?
The financial weaknesses of the French monarchy lay the foundations of the revolution of 1789 because the Nobles and the Clergy were getting food and money, while the peasants were super poor and sometimes didn’t have food You just studied 22 terms!
How did the rest of Europe react to the French Revolution?
How did the rest of Europe react to the French Revolution? Increased border control, enlightened rulers turned against France, & the Legislative Assembly declared war on multiple states devince used during reign of terror to execute by beheading To deal with threats imposed upon France
How were France and its government reorganized in the early years of the revolution?
How were France and its government reorganized in the early years of the revolution? The National Assembly was the main government of France, and instead of having nobles in government, they had estates generals, which were representatives from each state
Did peasants benefit from the French Revolution?
Did French peasants benefit from it? Women did not benefit from the revolution but the peasants benefited from it because now they could a say in the government
How does the Declaration of the Rights of Man and Citizen reflect Enlightenment ideas?
How did the French Declaration of the Rights of man and Citizen relate to Locke’s Enlightenment ideas? This document reflected Enlightenment goals, set up a limited monarchy, ensured equality before the law for all male citizens, and ended Church interference in government
What was life like for peasants after the French Revolution?
Most peasants worked the land as feudal tenants or sharecroppers and were required to pay a range of taxes, tithes and feudal dues 3 A much smaller section of the Third Estate were skilled and unskilled urban workers, living in cities like Paris
Why was the Third Estate unhappy?
The members of the Third estate were unhappy with the prevailing conditions because they paid all the taxes to the government Further, they were also not entitled to any privileges enjoyed by the clergy and nobles Taxes were imposed on every essential item
What problems did peasants face?
Peasants faced challenges in finding clothing, housing as well as food Hygiene was poor Children were at the low end of the pecking order “For peasants, life was hard
What is a peasant woman?
a a member of a class of low social status that depends on either cottage industry or agricultural labour as a means of subsistence b (as modifier) peasant dress 2 Informal a person who lives in the country; rustic 3 Informal an uncouth or uncultured person
What was a peasants life like?
Each peasant family had its own strips of land; however, the peasants worked cooperatively on tasks such as plowing and haying They were also expected to build roads, clear forests, and work on other tasks as determined by the lord The houses of medieval peasants were of poor quality compared to modern houses
What did most peasants live in?
Most worked the farm lands themselves or with the aid of peasants and serfs Farmers and peasants lived in simple dwellings called cottages They built their own homes from wood and the roofs were thatched (made of bundles of reeds that have to be replaced periodically)