Adam Smith: The Grandfather Of Economics
Economics Explained
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The Role of Government in the Free Market
The act of trading also has its inherent benefits. Savvy individuals will logically do what is going to be most profitable for them. The aggregate result of very profitable individuals is a very wealthy nation. This whole idea was really highlighted by Adam Smith and was dubbed the guiding hand of the free market. To Smith, the role of government was only to make sure that markets were maintained - jailing scammers and enforcing contracts.
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