Adam Smith, considered one of the founding fathers of modern economics, believed in limited government intervention in the economy. He advocated for a laissez-faire approach where the government's role should be limited to maintaining law and order, providing public goods, and ensuring a fair and stable market. Therefore, one example that reflects a way Adam Smith thought the government should be involved in the country is:
- The government should enforce property rights and protect individuals and businesses from fraud or theft.
Smith believed that the government's role in the economy should be minimal, allowing individuals and businesses to freely pursue their interests and engage in voluntary transactions.
Identify which of the following examples reflects a way adam Smith thought the government should be involved in the country
1 answer