To recap, self-interest and competition are very important economic forces. Self-interest is the motivator of economic activity. Competition is the regulator of economic activity. Together they form what Adam Smith called the invisible hand, which guides resources to their most valued use.
Answer:
not good. lol
Explanation:
I mean would you like to get pulled away from your home?
The United States government began constructing military basa within the state in preparation for war. Although far removed from the frontlines in Europe and the Pacific, Arizona's contribution to the Allied war effort was significant. Multiple prisoner of war camps and Japanese internment camps were established across the state, as well as several new airbases and associated sites, resulting in the birth of Arizona's aviation and manufacturing industries at the end of the Depression Era. The population of the state also experienced a major increase. Many veterans returned to Arizona after the war ended, laying the foundations for the large metropolises of Pheonix and Tucson.
Answer:
The economy runs better without governmental involvement.
Explanation:
In the Wealth of Nations, Adam Smith lays out a very robust theory about how the economy works, this is why many economists consider him to be the Father of the economic science.
Adam Smith's main thesis was that people, acting own their own interest, were guided by the invisible hand, leading to positive results that benefited the whole of society, even if that was not the main goal of economic actors in first place (their main goal being furthering their own interests).
For this reason, Smith thought that most government intervention was unecessary, since according to him, economic actors tended to self regulate in the market, and to produce an optimal result for society. He did justify some government intervention though: in the military, in the judicial system, and in some basic social services in order to care for the poor, the elderly, and the sick.
