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Why did Adam smith advise nations to allow their economies to remain as free as possible form government interference?
Wiki User
∙ 9y ago
Because the market, via the invisible hand, would correct inefficiencies and make society, as a whole, the best off. The government intervening would simply cause more problems than it could fix.
Wiki User
∙ 12y ago
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Why do the world's national economies fall inside the continuum?
because the economies wouldn't be able to stay
Did the whig party support less government interference in the nations economy?
No, they opposed the concentration of power in the chief executive
What is unrestricted trade?
Unrestricted trade means trade between nations free of government interference in the form of tariffs & other barriers.
What is the process called by which economies and cultures are many nations become integrated and interrelated?
Globalization is the process by which economies and cultures are many nations become integrated and interrelated.
How were the economies of Europe nations after World War 1?
The economies of the nations were generally in great shape, as they usually are immediately after a war. The companies are busy buying and building weapons and technology that can be used in war, and as a result, certain nations are booming in business with others and many people are in work. It is only after a war (after some time has passed) in which the economies of the nations were hit hard.
What type of economy do most nations have?
Most nations have mixed economies, where both the government and the private sector play a role in economic decision-making. In these economies, elements of both capitalism and socialism are present.
Why do the world's national economies fall inside the continuum?
because the economies wouldn't be able to stay
Did the whig party support less government interference in the nations economy?
No, they opposed the concentration of power in the chief executive
What is Today the economies of virtually all nations would be classified as?
mixes economies
What is unrestricted trade?
Unrestricted trade means trade between nations free of government interference in the form of tariffs & other barriers.
Why did western Europe economies grow faster then eastern Europe economies after World War 2?
The Eastern European Nations were controlled by the Soviet Union, a communist government, and they did not have self-rule nor could they have free trade with the rest of the world as the Western European nations did. The USSR also refused help from the democratic western nations so they did not have all that help to fix up and grow the economies of the Eastern Nations.
What was David Ricardo's belief?
he believed in -supply and demand economics -free trade between nations -market competition with minimal government interference
Why was david ricardo important?
he believed in -supply and demand economics -free trade between nations -market competition with minimal government interference
What is the process called by which economies and cultures are many nations become integrated and interrelated?
Globalization is the process by which economies and cultures are many nations become integrated and interrelated.
What are the Brics?
five nations with influential, emerging economies
What was the common in eastern bloc nations?
Controlled economies were common in eastern bloc countries.
What nations have set up a democratic government in the 1900s or 2000s?
some possible nations are ireland, india, algeria, singapore, and nepal
