what best summarizes adam smiths contribution to economic theory in the 1700s? click or tap a choice to…

what best summarizes adam smiths contribution to economic theory in the 1700s? click or tap a choice to answer the question. smith wanted to see european nations grant their colonies independence. smith argued in favor of government regulation of the economy. smith was one of the first proponents of free markets and capitalism. smith believed that the treaties of westphalia would bring renewed economic prosperity.

what best summarizes adam smiths contribution to economic theory in the 1700s? click or tap a choice to answer the question. smith wanted to see european nations grant their colonies independence. smith argued in favor of government regulation of the economy. smith was one of the first proponents of free markets and capitalism. smith believed that the treaties of westphalia would bring renewed economic prosperity.

Answer

Brief Explanations:

Adam Smith is known as the father of modern economics. In his work "The Wealth of Nations," he advocated for free - market capitalism, believing that the "invisible hand" of the market would guide economic activities more efficiently than government intervention. He did not focus on colonial independence, was against excessive government regulation, and had no notable connection to the Treaties of Westphalia in economic theory.

Answer:

Smith was one of the first proponents of free markets and capitalism.