World History

posted by Rylee

Which doctrine devised by Adam Smith argued that government should not interfere with economic matters?

pro bono
quid pro quo

On google, it says that Pr Bono was something clinics switched to, so it seems pretty obvious that that's not the right one, so I was thinking C?

  1. Ms. Sue

    I'm glad you learned the meaning of one of the terms. However, your answer is still very wrong.

  2. Ms. Sue

    What does your text say about Adam Smith?

  3. Rylee

    Part of it says 'Adam Smith became an important name in economics after the publication of Wealth of Nations.' and another part says 'The classical liberalism movement resurged in Scotland in 1714 with the publication of Bernard Mandeville’s The Origin of Moral Virtue, or The Fable of the Bees. This work inspired Adam Smith. Smith’s name is connected primarily to economic matters. Smith’s influential 1776 work The Wealth of Nations analyzed the economies of industrial societies. The British economic boom of the 1700s had created a working class. Smith maintained that a nation could ensure its economic success by promoting the welfare of its workers. Smith was also a social philosopher interested in aspects of morality in human behavior. He was an empiricist who used observation in his studies of how self-interest motivates individuals.

    Smith created a concept he called the Invisible Hand. This was the hand of the overall market itself, which could maintain an atmosphere of fair trade if left alone. This principle led Smith to support the idea of the laissez-faire economic doctrine. This holds that an economy supports itself best without government regulation.' so the answer was right in front of me the whole time. I guess I just need to pay more attention. Thanks, Ms. Sue!

  4. Ms. Sue

    :-) You're welcome.

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