Social Studies, 12.03.2020 05:13 loveyeti106838

Adam Smith's arguments in favor of free markets with the advantages of free markets presented in your text. Explain whether these advantages support or challenge Adam Smith's arguments.

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Answer from: sarah1tice

The free market is an economic power founded by Adam Smith, which is based on liberal and neoliberal economic ideas.

Although I agree with Smith's advantages, I cannot ignore the fact that this model has a very dangerous consequence for society.

The validation of Adam Smith's arguments:In this concept, Smith ensures that the forces of demand and supply will determine how the economy is built without the need for government involvement, i.e., the government will not interfere with a country's economy, giving businesses entire control over how theirs is run. The use of raw materials, the company's interaction with competitors, and how items would be presented to customers are all factors to consider. The advantages of this economic model, according to Adam Smith, would be the diminution of the public machine, the development of private company services, a higher and continuous flow of international money, and individual enrichment of countries.The complications with Adam Smith's arguments are namely the increase in social inequality because the government cannot impose regulations on entrepreneurs who exploit the working class ruthlessly.

Learn more about Adam Smith's arguments refer to the link below:

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Answer from: oof5221

The free market is an economic power created by Adam Smith, based on the liberal and neoliberal thoughts of the economy. In this model, Smith guarantees that the forces of demand and supply would determine how the economy should be established, without any government intervention, that is, the government could not interfere in the economy of a country, offering the companies complete freedom over how theirs would be. consumption of raw materials, the relationship with its competitors, or how products would be offered to consumers.

Adam Smith guaranteed that the advantages of this economic model, would be the reduction of the public machine, the improvement of the services provided by private companies, a greater and continuous flow of international capital and the individual enrichment of nations. Although I agree with the advantages defended by Smith, I cannot fail to notice that this model generates a very serious consequence for society, which is the increase of social inequality, through the free market, the government could not impose rules on entrepreneurs who could exploit cruelly the working class.

Answer from: Quest

no, dan should reduce his discretionary spending. not long-term goals involve more planning than short-term goals do

Answer from: Quest

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