How are today's privatization programs, often associated with neoliberalism, an unsurprising result of Adam Smith's perspective on economic growth?

Question

Quizplus · Accepted Answer

Adam Smith's perspective on economic growth emphasized laissez-faire economics, which advocates for minimal government intervention in the economy and a free market system. Privatization, which involves transferring ownership and control of state-owned assets and services to the private sector, aligns with this perspective by reducing government control and allowing for greater competition in the market. Therefore, today's privatization programs can be seen as a logical result of Smith's ideas on economic growth.  Option A is incorrect as it is in opposition to Smith's belief in laissez-faire economics. Option B is incorrect as Smith did not call for government assistance to ensure unfettered competition in the market. Option D is incorrect as Smith's position on colonialism is not directly related to privatization.

How Are Today's Privatization Programs, Often Associated with Neoliberalism, an Unsurprising