Capitalism has come a long road before becoming the dominant social order on the planet. Adam Smith was one of the first economists to fully describe the benefits that free market capitalism can bring. Moreover, he was the first to systematically analyze the main economic categories such as wages, labor, profit, rent, population, demand, and supply. His work Wealth of Nations was groundbreaking, and he is considered one of the fathers of capitalism not without a reason. In this work, I will show that Adam Smith succeeds in his criticism of mercantilism and governmental market regulations and proves that ...
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