What is the following is the free market economist Adam Smith not known for?

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1021941

2026-04-05 18:20

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Adam Smith is not known for advocating strict government intervention in the economy or for supporting the idea of central planning. Instead, he is famous for his belief in the self-regulating nature of markets and the "invisible hand" concept, which suggests that individuals pursuing their own interests can lead to positive economic outcomes for society as a whole. Additionally, his work primarily focuses on the principles of capitalism rather than socialism or communism.

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