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Adam Smith and Economic Liberalism
14
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Economic Liberalism
State Monopolies and Free Trade
laissez faire
Self Interest (Invisible Hand)
Government Regulation
Adam Smith
Government's Three Duties:
Defense
Police
Trains
Generally known for An Inquiry into the Nature and Causes of the Wealth of Nations (1776)
"Father of modern economics"
Professor at the University of Glasgow
"No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable."
Adam Smith and Economic Liberalism
Traveling Tutor
Organization:
Labor
"Masters"
By: Adam Baker
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