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"[Governments are]...without exception, the greatest spendthrifts in the society."
— Adam Smith

Adam Smith is one of the most influential philosophers. His work, "The Wealth of Nations," has been ranked as one of the most influential books of all time.

Do you agree with Smith that the government should not interfere in the economic marketplace? Explain your answer using what you've learned in the module lessons. You should also use specific vocabulary terms to support your thoughts.



Answer :

GinnyAnswer

Final answer:

Adam Smith supported a laissez-faire approach and believed in the invisible hand guiding economic activities.


Explanation:

Adam Smith, in his book The Wealth of Nations, advocated for a laissez-faire approach in the economy, where the government does not interfere in the market. Smith believed that a free-market system driven by self-interest and the concept of the invisible hand would lead to optimal economic outcomes.


Learn more about Adam Smith's economic philosophy here:

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