The social thinker whose ideas most supported the operation of a free-market economy

Question

Quizplus · Accepted Answer

Adam Smith is widely considered the "father of economics" and his ideas on free-market capitalism heavily influenced the development of the modern capitalist economy. In his book "The Wealth of Nations," Smith argued that an economy guided by the "invisible hand" of self-interest and competition would lead to the greatest prosperity and efficiency for all. He believed that government regulation and intervention should be limited in order to allow the market to operate freely.

The Social Thinker Whose Ideas Most Supported the Operation of a Free-Market