Which economist wrote The Wealth of Nations and argued for free markets?

Which economist wrote The Wealth of Nations and argued for free markets?

• A. Karl Marx
• B. Charles Darwin
• C. Adam Smith
• D. Thomas Hobbes

Answer: (C)

The main idea being tested is recognizing who linked The Wealth of Nations to free-market thinking. The wealth of nations was written by Adam Smith, published in 1776, and he argues that markets function best when they are free from heavy government control. He explains that individuals pursuing their own interests in a competitive environment unintentionally promote the common good because prices and profits guide resources to where they’re most needed. This invisible hand, along with the division of labor, boosts productivity and growth. Smith also critiques mercantilist policies that rely on strict regulations and protectionism, advocating instead for free trade and limited government intervention to maintain justice, defense, and public works. The other figures listed are associated with different ideas: Karl Marx is known for critiques of capitalism and advocacy of socialism, Charles Darwin is a naturalist, and Thomas Hobbes is a political philosopher. So the economist who wrote The Wealth of Nations and argued for free markets is Adam Smith.

The main idea being tested is recognizing who linked The Wealth of Nations to free-market thinking. The wealth of nations was written by Adam Smith, published in 1776, and he argues that markets function best when they are free from heavy government control. He explains that individuals pursuing their own interests in a competitive environment unintentionally promote the common good because prices and profits guide resources to where they’re most needed. This invisible hand, along with the division of labor, boosts productivity and growth. Smith also critiques mercantilist policies that rely on strict regulations and protectionism, advocating instead for free trade and limited government intervention to maintain justice, defense, and public works. The other figures listed are associated with different ideas: Karl Marx is known for critiques of capitalism and advocacy of socialism, Charles Darwin is a naturalist, and Thomas Hobbes is a political philosopher. So the economist who wrote The Wealth of Nations and argued for free markets is Adam Smith.