Adam Smith: Questions

Which of he following does Adam smith advocate? The pursuit of self-interest ? According to Adam metalworker in a laissez faire thrift all(prenominal) member will try to pursue and maximize his own self-interest Import of restrictions to protect the municipal market ? Adam Smith believes in a free market parsimony and would disapprove of restrictions, stock-still in the name of protection. Private armies to protect the house servant market ? /? Adam Smith advocates the protection of the domestic market through an army, though I doubt he means a semiprivate army.I believe he only if supports an army that is owned and controlled by the public/the citizens. A legal system to safeguard internal peace and justice ? Adam Smith supports the laissez faire system which enjoins that the judicature or state should interfere as little as possible in the trading activities between people, as that would only harm trade. Government subsidies for the transport of infrastructure ? Adam Smi th sees this as another(prenominal) duty of the government to grant subsidies for the sake of transport and infrastructure. 2. What, according to Adam Smith, is the driving force of the economy?Adam Smith defined the factors of production as land, labor and capital. He also said that the economy was made up of individual transactions, and that buyers and sellers were looking out for their own self-interest, which was the driving force of every economy. Smith posed the idea of competition as well, and the Invisible Hand theory which dealt with competition, self-interest and protecting the consumer from government intervention. 3. Show how individuals who pursue self-interest may a)contribute to general economic prosperity(success)