0
He was the first economist to identify trade as the source of wealth rather than a stock of individual resources, such as gold or silver. He theorized that the best thing to do would be to restrict trade as little as possible, allowing the market to allocate resources and build wealth. He also coined the term "invisible hand" to refer to a free, competitive market's tendency to drive prices toward an equilibrium and efficiently allocate resources.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What were Adam Smith's views of laissez faire economics?
He was a strong supporter of laissez faire economics
Who invented laissez-faire economics?
Adam Smith
Neoclassical economists supported which of Adam Smiths theories?
laissez-faire
Laissez-faire economics was a doctrine proposed by who?
Adam Smith.
What was Adam Smith the leading advocate of?
laissez-faire economics
What were Adam Smith's views of laissez faire economics?
He was a strong supporter of laissez faire economics
Who invented laissez-faire economics?
Adam Smith
Neoclassical economists supported which of Adam Smiths theories?
laissez-faire
Laissez-faire economics was a doctrine proposed by who?
Adam Smith.
What was Adam Smith the leading advocate of?
laissez-faire economics
Is pioneer a noun?
Pioneer can be used as both a noun and a verb, as in "Adam Smith was the first pioneer of Laissez-Faire Economics" or "Adam Smith pioneered the idea of Laissez-Faire economics."
Laissez-faire economics was a doctrine proposed in the late eighteenth century by this man?
Laissez- faire was proposed by Adam Smith in his book The Wealth of Nations.
Laissez-faire economics was a doctrine proposed in the late eighteenth century by this man.?
Laissez- faire was proposed by Adam Smith in his book The Wealth of Nations.
What describes Adam Smiths ideas about the cause of economic growth?
Free markets, competition, laissez-faire
Which European social group was mots attracted to Adam smiths philosophy of laissez faire?
Business People
Who was the main proponent of laissez-faire economics during the Enlightenment period?
Adam Smith
Who was a strong advocate of Laissez-faire economic?
Laissez Faire economics was a statement of a "hands off" agreement between the government of citizens. Laissez Faire basically means hands off. Adam Smith was an advocate of this idea.
