Economic liberalism

Adam Smith was the main figurehead of economic liberalism. His main ideas were:

  • Self-interest and the pursuit of maximum profit must drive the economy.
  • Prices must be set by supply and demand. This was called the "invisible hand"
  • The estate must not  intervene on economics (free trade), specially must not intervene on importations or exportations.
  • His main work was "An Inquiry into the Nature and Causes of the Wealth of the Nations" (1776)

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