Adamsmithism

Adam Smithism is an economic philosophy based on the ideas of Adam Smith, emphasizing that individuals pursuing their own self-interest can unintentionally benefit society as a whole. Central to this is the concept of the "invisible hand," where free markets and competition guide resources efficiently, leading to wealth creation and innovation. Smith advocated for limited government intervention, believing that free trade and personal enterprise foster economic growth. Overall, Adam Smithism encourages a market-driven economy where individual choices and private enterprise serve the collective good.