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Why is Adam Smith important?

Anonymous

∙ 15y ago

Updated: 11/12/2022

Father of capitalism and the free market economy. Had the idea of the invisible hand leading the economy rather than the government.

We currently have a system with minor government interference, to provide for police, fire,etc... things the free market does not address.

Wiki User

∙ 15y ago

What else can I help you with?

What is the most important purpose of production according to Adam Smith?

According to Adam Smith, "consumption is the sole end and purpose of all production."

Who is referred to as the father of economics?

John Maynard Keynes

What has the author Lilian Adam Smith written?

Lilian Adam Smith has written: 'George Adam Smith'

Adam Smith what is he most known for?

Adam smith...........

Where was Adam Smith born?

Adam Smith was born in Kirkcaldy, Scotland.

How old was Adam Smith when he died?

Adam Smith was 62 when he died

How tall is Adam C Smith?

Adam C Smith is 5' 9".

The free-market system of capitalism was defended in the book The Wealth of Nations by whom?

Adam Smith wrote the book called the wealth of nations

Adam smith's parents names are?

Adam Smith shared is father's name of Adam Smith and his mother's name was Margaret Douglas.

Who advocated the theory of laissez faire?

Adam Smith

When did Adam smith die?

Janet Adam Smith died in 1999.

Adam Smith developed the theory of in 1776?

Adam Smith presented his theories in a book entitled "The Wealth Of Nations" which is among the most important books of economic theory ever written - possibly even the most important.