Adam Smith, in his book, The Wealth of Nations, advocated:
A) socialism.
B) an economy guided by an "invisible hand."
C) government control of the "invisible hand."
D) the adoption of mercantilism.

Question

Quizplus · Accepted Answer

Adam Smith advocated for an economy guided by an "invisible hand," which means that individuals pursuing their own self-interests in a competitive market will lead to a socially optimal outcome, without needing government control or intervention. He did not support socialism or mercantilism.

Adam Smith, in His Book, the Wealth of Nations, Advocated