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What is laissez faire Adam Smith?

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Adam Smith’s laissez-faire economics ment: When people are given the freedom to be the best they can be, the result is the rich and the poor have a better economic situation. Yes the poor are the ones who win in the free trade capitalism of Adam Smith. read more

For Smith, laissez-faire was "a program for the abolition of laws constraining the market, a program for the restoration of order and for the activation of potential growth". However, Smith and the notable classical economists, such as Thomas Malthus and David Ricardo, did not use the phrase. read more

The doctrine of laissez-faire is usually associated with the economists known as Physiocrats, who flourished in France from about 1756 to 1778. The policy of laissez-faire received strong support in classical economics as it developed in Great Britain under the influence of economist and philosopher Adam Smith. read more

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