Question

What was Adam Smith’s economic theory?

Answer 1

Adam Smith was an economist and philosopher who wrote what is considered the Bible of the capitalism the wealth of nations, In which he details the first system of political economy.

Answer 2

Laissez-faire philosophies, such as minimizing the role of government intervention and taxation in the free markets, and the idea that an "invisible hand" guides supply and demand are among the key ideas Smith's writing is responsible for promoting.