1. By: John guy ADAM SMITH

2. ADAM’S VIEW ON GOVERNMENT Adam Smith wrote the book The Wealth of Nations which describes a self- regulating market. A self-regulating market goes based off what the people produce, what they would buy, and the what they wanted and what they could afford. Smith didn’t see silver and gold as having an absolute value, but instead he saw it as commodities of those value’s that rise and fall due to supply and demand.

3. SMITH CONT. Competition was a part of the self-regulating government. If someone felt that something was over-priced, they could just go to another grocer or another store that is selling the same thing for a lower price. Smith taught people that prices will rise and fall when the freedom is involved. An example of this: jobs requiring additional learning have fewer people in the field, like doctors, will make more money because of the number of people who actually succeed in the process of becoming a doctor.