According to Adam Smith, what should be the role of government in a capitalistic society?
A) collective ownership of land and resources, distribution of goods and pay according to work done and owner of industries
B) to redistribute wealth by taxing the private sector, promote social objectives, and centrally plan the economy
C) limited to providing defence against foreign enemies, ensuring internal order, and furnishing public works and education
D) controlling interest in industry, distribution of resources, and promoting social objectives

Question

Quizplus · Accepted Answer

According to Adam Smith, the role of government in a capitalistic society should be limited. The government should only provide defence against foreign enemies, ensure internal order, and furnish public works and education. Smith believed in the free market and the idea that individuals pursuing their self-interest would ultimately benefit society as a whole. He did not support government intervention in the economy beyond providing these essential services.

According to Adam Smith, What Should Be the Role of Government