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Intro To Business
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Capitalism is based upon the ideas of the economist John Smith. Smith wrote in his book, The Wealth of Nations, about an economy free of government intervention. Each citizen can pursue his own best interest within the economy. Inturn, the society would benefit without government becoming involved. The French term laissez faire, meaning "let t ....
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....omy. He did state that the government should make the rules, and decide if and when those rules are broken.
Karl Marx could be considered completely opposite of Smith. Known as the father of communism, Marx felt that a society whose economy was under complete government control would be the most prosperous. Communism was built around the belie.... |
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