Question

why did Adam Smith believe the government should have little involvement in the economy

explain in 4th grader terms in 4-5 sentences

Answer 1

Adam Smith believed that people should be free to make their own choices about what to buy and sell. He thought that if the government stayed out of the economy, businesses would compete and make better products for everyone. He also thought that people are good at making their own decisions and don't need the government telling them what to do. So, he believed that the government should only step in to help if things really got bad.