Adam Smith, who lived in the eighteenth century, provided the philosophical and most systematic arguments for the underpinnings of a laissez-faire economic system in his book “The Wealth of Nations.” Smith makes the argument that it was only the interference of government which disrupted the natural working of economic society and created poverty and decay [...]
Tag Archives: The Wealth of Nations
“FOR THE GOOD OF OTHERS”*
By Leonard E. Read A professor writes, “It seems to me that it is quite an unworthy goal for businessmen to go to work for the sake of bringing profit to the stock-holders.” The head of a large corporation bemoans the bad image of business and contends that the first consideration of American business is, [...]
Posted in Economics 101, Free Markets Also tagged Adam Smith, Foundation for Economic Education, Leonard Read, The Freeman, Thomas Jefferson Leave a comment
