Choose the given statement that is true/false:

Today's bankers and merchants wield the same level of power as they had in the eighteenth century.

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Detailed Solution

The above statement is True.
Today's bankers and merchants wield the same power as they did in the eighteenth century.
People or companies involved in trading (export and import) related work within the country or with foreign countries are known as merchants. A person relates with the money work in the bank or manages their bank or group of banks known as bankers. Merchants were more influential than bankers during the 18th century, whereas now bankers have more power. In the 18th century, merchants provided loans with a high-interest rate. With the advantages of technology and the spreading of education, bankers should provide loans and assist the finance at cheap rates. In today's scenario, bankers should follow the government's subsidies and financial yojana policies. But in the 18th century, merchants created their own rules related to financial work. So yes, Yes, the Bankers and Merchants of today wield the same power as they did in the eighteenth century because of the advancements made in technology and communication.

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