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16 July, 17:02

How do the roles of government as defined by Adam smith support a country's economic interest

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  1. 16 July, 19:17
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    The roles of government as defined by Adam smith support a country's economic interest as follows:

    In the book titled "Wealth of Nations", Adam Smith, who is also known as the father of economics, mentions that "Government should limit its activities to administer justice, enforcing private property rights, and defending the nation against aggression."

    He was in favor of a free economy and the idea of people having the required amount of freedom to make economic decisions. He meant that by doing so there will be economic prosperity, which remains as the main idea which supports free economy.
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