asked 200k views
0 votes
According to Adam Smith and other classical economists, why is the economic theory supporting market economies (or capitalism) much more realistic than theories supporting command economies

asked
User Xarph
by
8.9k points

1 Answer

2 votes
According to Adam Smith and other classical economists, the economic theory supporting market economies makes far more sense because only people can truly decide what they want and will therefore purchase. The government can't possible guess accurately.
answered
User Paulo Rosa
by
7.8k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.