Economics Flashcards
1
Q
what is the group of economic ppl from france called
A
physiocrats
2
Q
what did physiocrats advocate for?
A
don’t want govt. controlling buisness
3
Q
which important guy comes out of this
A
adam smith
4
Q
what’s adam smith’s famous book
A
wealth of nations
5
Q
what did he believe the govt. role is?
A
defense and protect property
6
Q
adam smith advocated for laissez-faire??
A
didn’t want mercantilism
7
Q
mercantilism
A
profitable trading (unfair trading in colonies and shit)
8
Q
what did he believe in for trade?
A
free trade
9
Q
what lead to modern capitalism (tax?_
A
no tarrifs
