This paper focuses on Adam Smith’s “An Inquiry into the Nature and Causes of the Wealth of Nations”, which was published in 1776 and continues to be a highly regarded contribution to economic theory. Through comparing Smith’s ideas on topics such as…
According to Adam Smith, whose insights still underpin economics as a discipline to this day, taxation is justified by the government’s ability to fulfill needs which cannot be supplied by the market and otherwise intervening to create efficiency and…