Adam Smith Laissez-Faire

Was Adam Smith laissez-faire? What did it mean that Adam Smith was laissez-faire? This asks another question, did Adam Smith really support an economy free from government interference? Generally yes, but there is more to the story and it is worth trying to understand more on the subject. The most important thing is to understand …

Adam Smith on socialism

The purpose of this post is to answer the question what were Adam Smith’s views on Socialism. Some people believe Adam Smith was a socialists. What would Smith think of the world today and the state-run economies? Is it all that bad? The wonderful world of Adam Smith was not so wonderful. There was slavery, …

Adam Smith on women

What did Adam Smith think of the effect of wealth on women and family? This is an interesting question as many American guys complain that American society has become so wealthy that it has corrupted women’s ability to provide a happy family life.  They feel American women are spoiled and do not make good mother’s …

Adam Smith’s invisible hand

The invisible hand conceived by Adam Smith is the greatest argument against socialism, Kings, Queens, technocrats, bureaucrats and social engineers. The theory was expressed in the An Inquiry into the Nature and Causes of the Wealth of Nations in 1776 and elements of his philosophy in The theory of Moral Sentiments in 1759. The invisible …

Adam Smith was right

Adam Smith was right. Ronald Reagan was right when he said ‘government is the problem’. Government and the economy At first I was for government intervention. I thought maybe the president was a bright strong leader and will solve many of the problems of the US economy. But it is very clear to me that …