Question

According to adam smith, the best way to advance the well-being of society is to place resources in the hands of government officials and allow politicians to allocate scarce resources to satisfy the demands of society. true false

Answer 1

Given the ideals and theoretical foundation of capitalism, first determined by Adam Smith, it is true that he would believe that giving the resources to the private citizens in society would allow them to be more effectively allocated to those in need, as opposed to handing it to the government.