SSC
WORLD HISTORY
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Adam Smith
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Karl Marx
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Fredirich Engles
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Alfred Nobel
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Detailed explanation-1: -Adam Smith was a philosopher and economic theorist born in Scotland in 1723. He’s known primarily for his groundbreaking 1776 book on economics called An Inquiry into the Nature and Causes of the Wealth of Nations. Smith introduced the concept that free trade would benefit individuals and society as a whole.
Detailed explanation-2: -Smith’s free-market philosophy was expressed in his notion of ‘the invisible hand’: the idea that an economy can regulate itself through the actions of individuals who are seeking only their own financial gain. This idea has come to be synonymous with capitalism and laissez-faire economics.
Detailed explanation-3: -Adam Smith is often identified as the father of modern capitalism.