Lesson 23 of 84 · Enlightenment
⭐ 30 XPenlightenment: Lesson 23
The Enlightenment also influenced the economic thought of the time, particularly through the ideas of Adam Smith.
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The Enlightenment also influenced the economic thought of the time, particularly through the ideas of Adam Smith. In his seminal work 'The Wealth of Nations,' Smith advocated for free markets and the idea of the 'invisible hand' guiding economic activity. He argued that when individuals pursue their self-interest, they inadvertently contribute to the greater good of society. This concept became foundational for modern capitalism, promoting minimal government intervention in economic affairs and emphasizing the benefits of competition.
Key Facts
Adam Smith wrote 'The Wealth of Nations,' advocating free markets.
The 'invisible hand' refers to self-interest guiding the economy.
Smith's ideas laid the groundwork for modern capitalism.
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Question 1
1 of 2What economic concept did Adam Smith introduce in 'The Wealth of Nations'?
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enlightenment: Lesson 23
Connect the dots between past and present.
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