Question by  porschemontega (20)

What contribution did Adam Smith make to economics?


Answer by  ranakhan (164)

Adam Smith is considered the father of economics.He wrote many books like "The Theory of Moral Sentiments" and "An Inquiry into the Nature and Causes of the Wealth of Nations" Smith is widely cited as the father of modern economics and capitalism.He has been professor in great universities.he travelled throughout Europe to promote his ideas


Answer by  tamarawilhite (17883)

Adam Smith defined the value of trade and the merits of free trade. He wrote the book "The Wealth of Nations". He was the first to define specialization of labor and show how this improved productivity. He was one of the first to show how government interference in trade hindered it, decreasing economic output and raising prices.

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