How Did Adam Smith Contribute To Capitalism
Adam Smith was a Scottish moral philosopher, known for his view and use of capitalism. Smith helped spread the ideology of privatization and free market, and is often credited on creating modern economics. Smith opposed government use and regulation in trade and consumption, arguing it was only a producer and consumers business. Smith lived in an era of mercantilism, and found it useless and unhelpful for trade, and illogical for only benefitting two countries. Smith found specialization key; the idea that a country should keep sacred to what they could produce well and set that good specifically up for trade. With this approach, he proposed a laissez-faire approach, to leave it alone. In other words, Smith advocated that countries produce