Question

50 PTS IF CORRECT

Which best describes Adam Smith’s view on economics and government involvement in business?

He believed the Catholic Church should oversee a nation’s business and commerce.

He wrote The Communist Manifesto and believed the government should control commerce.

He believed in a laissez-faire policy in which the government does not interfere in commerce.

He preached enlightened absolutism and the monarchy’s control of business and commerce.

Answer 1

Answer:

He believed in a laissez-faire policy in which the government does not interfere in commerce

Explanation:

In his book " The wealth of nations", he states that the key of social well being  is economic growth, which can be reflected in the division of work and in the free competition. He beleived in an "invisible hand" that would naturally regulate the behaviour of markets, without government implication in it.