Substantivism Is the View That Classic Economic Theory Can Be

question 36

True/False

Substantivism is the view that classic economic theory can be applied to all human societies and cultures.

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Definitions:

Whig Leadership

The guidance and direction provided by leaders of the Whig Party, an historical political party in the United States active in the mid-19th century.

American System

An economic plan proposed by Henry Clay in the early 19th century, advocating for a strong banking system, protective tariffs, and federally funded transportation projects.

Market Economy

An economic system in which the prices of goods and services are determined in a free price system, largely governed by the forces of supply and demand.

American System

The American System was an economic plan that played a significant role in American policy during the first half of the 19th century. It advocated for a strong federal government to create a protective tariff, a national bank, and infrastructure improvements.