Adam Smith Set Out an Argument for Unrestrained Capitalism in the Wealth

question 34

True/False

Adam Smith set out an argument for unrestrained capitalism in The Wealth of Nations.

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Definitions:

Laissez-Faire Economy

An economic system where transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.

Self-Interest

A principle that assumes individuals make decisions that they perceive to be in their own best advantage, often equated with rational behavior.

Investment

The allocation of resources, such as capital or time, in expectation of future returns, typically in the form of profit, interest, or appreciation in value.

Stocks and Bonds

Financial instruments representing ownership in a company (stocks) and debt obligations issued by entities (bonds), respectively, used for investment purposes.