Wealth+of+Nations-Adam+Smith

Adam Smith (1723-1790) was an important laissez-faire economist and the author of many works, including his most influential, **//An Inquiry into the Nature and Causes of the Wealth of Nations.//** In it he described the way in which he believed the economy should run - through a free market system governed by an "invisible hand". Rather than having the government intervene whenever the market starts to take a turn or continually regulate it, he believed that it would run itself and the basic principles of capitalism would get it out of a decline. Adam Smith's basic views still have a huge influence on modern economics.

Created by Frances Grimball Feb 11, 2009

Units 7 & 8

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