for this is that people will work harder and more efficiently if they can keep the majority of the earn and he also explained that if governments grow to greedy, they will discourage and wreck peoples confidence from trying create their own wealth. He explained that Self-interest is an unchangeable part of human nature. So he was saying that it is wise for the government to let personal incentives build a richer economy. Smiths idea was thought to be kind of like Karl Maxis Utopia but it is found to be way more sophisticated. Fourthly, Adam Smith believed that the government was to be a strong necessity. Particularly, to create and enforce laws and to ensure justice. Mr. Smith strongly believed in a democratic partnership between the government and the people for whom they work for. He also knew that each should do what is best for the country. Businessmen should not have any control of the justice system or the government should not try to run the businessman out of business. Lastly, Adam Smith wrote a book of his thoughts about the economy and it was published the 1776. The name of the book was Wealth of nations. This was the first ever modern economics book and it influenced all economists since then. Readers were so delighted with his optimistic when he quoted that If the amount of global wealth was not fixed, then everyone could become wealthier. Countries could grow richer without harming their neighbours. After this, Kings, finance ministers, and readers everywhere flocked to Adam Smith, and booksellers went crazy and started putting statues of him in their shop windows. In Conclusion, Adam Smith whose ideas of market based Economics is still going on after 200 years of his death. Adam Smith has accomplished a lot with his philosophical ideas. Thus he has really deserved the name the Father of Economics....
