Adam Smith
Adam Smith believed in limited government and that the government should focus on areas like; enforcing contracts, and granting patents and copyrights to foster technological improvements. He also thought that the government should provide for public works, such as roads and bridges that would also assist in commerce.
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Adam Smith delivered the most logical and complete study of economics up until that time, and his concepts of the free market were based on universal natural laws. His ideas have also stood the test of time - more than those of any other economist. |
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