World Studies, quote application.

Question

The government of an exclusive company of merchants is, perhaps, the worst of all governments for any country whatsoever. – Adam Smith

-How does this quote apply to today?

Answer 1

When you have a government that is composed exclusively of some people, could be a family or other people that share an interest (see Russian oligarchs), then that is an oligarchy – which is a form of government among others that have existed in the world. A merchant run government could be an considered an oligarchy, excluding the participation of other groups of people. Try to find some examples of an oligarchic government today.