Laissez-faire, or free enterprise, economics stemmed French economic Philosophers of Enlightenment. They criticized the idea that nations grow wealthy by placing heavy tariffs on foreign goods. Adam Smith, a professor at the University of Glasgow,Scotland, defended the idea of free economy , or free markets in his book written in 1776 ( The Wealth of Nations).
Smithś economic ideaś were supported by British economists Thomas Malthus and David Ricardo, like smith they believed that natural laws governed economic life, which led to their idea of capitalism.
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