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Adam Smith (1 Jan 1723 Jahr – 1 Jan 1790 Jahr)

Beschreibung:

- Scottish philosopher and political economist
- 'Father of Economics'
- Author of Wealth of Nations
- Borrowed ideas from Isaac Newton (1642-1727)
- Introduced the 'invisible hand' or 'laissez-faire'
- Free market with no intervention
- Competition eliminates monopolies
- Introduced "absolute advantage" for international trade
- Defended specialization and division of labour

Zugefügt zum Band der Zeit:

Datum:

1 Jan 1723 Jahr
1 Jan 1790 Jahr
~ 67 years