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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 a ....
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....roughout this book, Smith stated his main theory. This theory was later known as economic liberalism. Smith believed in the term laissez-faire, which is French for hands off. Smith believed that there should not be any government intervention with the people except for only three cases. The only circumstances where the government should be able to intervene are with defense, justice, and certain public works. In Smith's view, the production and exchange of goods can be stimulated, and a rise in .... |
| Number of words: 1033 |
Approximate pages: 4 |
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