Scottish economist Adam Smith posits that the wealth of states and of the international system is increased when

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Adam Smith believed in laissez-faire economics, which promotes minimal government intervention and allows individuals to pursue their rational self-interests in the marketplace. Smith argued that this competition and pursuit of self-interest would lead to greater specialization, innovation, and overall economic growth, which would benefit both individuals and the international system as a whole. Therefore, allowing individuals to pursue their rational self-interests without state intervention is the key to increasing wealth both domestically and internationally.

Scottish Economist Adam Smith Posits That the Wealth of States