For Smith's theory does unquestionably lead to a doctrine of laissez-faire. To Adam Smith the least government ... Smith was the economist of pre-industrial capitalism; he did not live to see ...

Laissez-faire economics advocates for minimal government interference, relying on market forces. Adam Smith's notion of ... to generate wealth. Within capitalism, there are a number of different ...

In other words, many capitalist nations have elements of socialism interwoven. So even though there are different degrees or ...