Question

“Government has no place in the economy if it wants the nation to be wealthy. Markets naturally balance themselves out through the process of supply and demand.” Which of the following is true about this quote and why? A: Adam Smith would not have agreed with this quote. He believed that protection for private property was the only way to ensure a nation’s wealth.
B: Karl Marx would not have agreed with this quote. He believed that protection for private property was the only way to ensure a nation’s wealth.
C: Adam Smith would have agreed with this quote. He believed that free competition between individuals and businesses would lead to wealth.
D: Karl Marx would have agreed with this quote. He believed that free competition between individuals and businesses would lead to wealth.

Answer 1

Im thinkin A. Because Karl Marx was the father of communism, which believes that in a sense, if I make work hard and make $100, i have to share my hundred dollars with everyone else in the country. Adam Smith I believe was a Libertarian, who's beliefs are based on owning private property and keeping what is yours.