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aug 18, 1742 - Summary of his ideas

Description:

Adam Smith was not an economist, but wrote one of the most important economic books and is regarded as the father of economics.

He believed completely in the free market, and that if people follow their own interest that the economy would be at its best, due to things like the 'invisible hand'. This means that the government should not intervene in the economy.

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Economics Timeline

Date:

aug 18, 1742
Now
~ 276 years ago
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