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Sloan [31]
2 years ago
10

Describe how parties are organized at the state level.

Social Studies
1 answer:
Gemiola [76]2 years ago
7 0
I don’t know I don’t know anything
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The arrival of Commodore Perry brought this nation out of international seclusion.
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2 years ago
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Identify Adam Smith’s major contributions to classical liberal economic theory and his view of government’s proper role in the e
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AnswAnswer:

  • Adam Smith’s major contributions to classical liberal economic theory were the concept of "THE INVISIBLE HAND"
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Explanation:

Adam Smith is considerate as the father of <u>capitalism</u>. His main contribution to the classical liberal economic theory was the concept of "THE INVISIBLE HAND" (introduced in the book <u>The Wealth of the Nation</u>): he developed the idea of the existence of an invisible hand which function is regulating the markets. <u>The markets will regulate by itself</u>, by the power of this "hand" and they will find the balance by the actions of the demand and supply.

Government proper role in the economy is limited: as "THE INVISIBLE HAND" regulates the markets (by the action of the supply and demand), the government action is to  "<em>laissez-faire laissez passer</em>" (let things alone, let thing pass), it should not interfere or regulate business or industries. The G must let the private sector do without public intervention trying to regulate and controlling the private business.

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