Adam Smith, who is considered "the father of capitalism," believed in a laissez faire approach the economy. Smith described one exception, though, when governments should get involved. What role did Smith believe government could and should play?
Role did Smith believe government could and should play is discussed below.
Explanation:
He assumed that management had a significant role to perform.
Like most contemporary followers in open markets, Smith concluded that the administration should implement agreements and grant licenses and copyrights to promote creativity and new approaches.
Adam Smith assumed that "Government should restrict its movements to serve justice, supporting private inheritance rights, and protecting the nation against invasion.
