What 18th century economic philosopher and writer would favor an open market economy?

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2026-05-22 09:36

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The 18th-century economic philosopher who would favor an open market economy is Adam Smith. In his seminal work, "The Wealth of Nations," published in 1776, Smith advocated for free markets, competition, and the idea that individuals acting in their self-interest contribute to overall economic prosperity. He emphasized the importance of limited government intervention and the "invisible hand" guiding economic activity. Smith's ideas laid the foundation for modern capitalism and the principles of a market-driven economy.

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