A common misconception is that Smith advocated for zero government intervention. In Book V of The Wealth of Nations , Smith explicitly outlines three duties of the sovereign:
Smith writes that individuals pursuing their own self-interest often unintentionally promote society’s good. Market prices coordinate supply and demand without central planning.
A common misconception is that Smith advocated for zero government intervention. In Book V of The Wealth of Nations , Smith explicitly outlines three duties of the sovereign:
Smith writes that individuals pursuing their own self-interest often unintentionally promote society’s good. Market prices coordinate supply and demand without central planning. adam smit bogatstvo narodapdf 2021