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Adam Smith
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grew up in Scotland, which is home to David Hume, who is perhaps one of England’s greatest philosophers. Smith had a good childhood, he was raised with some money at hand, but he was certainly not rich. As far as his family goes, his father was a lawyer and held a public office in Scotland and his mother was a member of the Scottish Gentry. ....
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....n of most governmental economic policies today. Its main thesis is that capital is best employed for the production and distribution of wealth with the government interfering as little as possible. Throughout this book, Smith stated his main theory. This theory was later known as economic liberalism. Smith believed in the term laissez-faire, which .... |
| Word count: 1033 |
Page count: 4 |
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