In his 1776 work The Wealth of Nations, Adam Smith states"Commerce and manufactures, in short, can seldom flourish in any state in which there is not a certain degree of confidence in the justice of the government.” Describe at least two (2) of the roles or services Smith believes that a country's government should provide for its citizens.
Answer) Adam smith in his work The wealth of nations stated certain conditions under which commerce and manufactures could not flourish such as if people do not feel secure in possession of their property or if there is not a regular administration of justice.Adam smith believed in a role for government which would help nation progress,following are the two roles/services Smith believed that a country 's government should provide for its citizens
Besides above 2 points Smith also believed that Government should look to enforce legal and property rights as and when required,as it can be seen Smith believed in limited and defined role of Government which can act as a support for economic prosperity.
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In his 1776 work The Wealth of Nations, Adam Smith states"Commerce and manufactures, in short, can...
Adam Smith published "Wealth of Nations" in 1776. His book is regarded as the most comprehensive critique of Mercantalism in his era. He is regarded as the most important proponent of markets -- markets as the most efficient mechanisms for creating and maximizing utility. Smith is often brought forth today as the rationale for ending government regulation and cutting taxes. Yet Smith was quite explicit about what he thought government -- and only government, not the private sector -- needed...
Adam Smith in his famous The Wealth of Nations, argued that which of the following was the course of a nations wealth? gold in the treasury natural resources ability to product goods and services central bank money
Adam Smith, who first introduced the concepts of modern economics in 1776 in his book The Wealth of Nations, stated, “Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.” To complete the Discussion activity, write a post that answers the following questions: Consider your opinions on the same topics,...
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