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Intro To Business
Part 1 of Paper
....h of Nations, about an economy free of government intervention. Each citizen can pursue his own best interest within the economy. Inturn, the society would benefit without government becoming involved. The French term laissez faire, meaning "let them do", is generally used to describe Smith's capitalistic system.
Sm.... Part 2 of Paper
....the government should not be involved in the economy. Smith felt that the government should be limited to providing defense against foreign countries, while allowing it's citizens to control the economy. He did state that the government should make the rules, and decide if and when those rules are broken.
Karl Marx could be considered completely opposite of Smith. Known as the father of communism, Marx felt that a society whose economy was under complete government control would be the most.... |
| Number of words: 506 - Approximate pages: 2 |
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