Multiple choice

Who advocated the theory of laissez faire?

  1. Marshall

  2. Malthus

  3. Adam Smith

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Adam Smith, often called the 'Father of Economics', advocated for the theory of laissez-faire in his 1776 book 'The Wealth of Nations'. Laissez-faire is an economic system in which transactions between private groups are free from government intervention. Smith argued that an 'invisible hand' would guide the market to efficiency.

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